Appellate judge rejects Trump's request for stay on collection of "exorbitant" civil fraud case fine
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Donald Trump on Feb. 24 in Columbia, South Carolina. Photo: Win McNamee/Getty Images
A New York appellate judge rejected former President Trump's request Wednesday to halt the collection of penalties in his civil fraud case until his appeal is complete.
Why it matters: Trump's lawyers wrote in a court filing that he intends to post a $100 million bond — significantly less than the sum he's been fined.
- But Judge Anil Singh ruled Wednesday that the former president must post bond for the full amount he owes in order to stop enforcement of the judgment.
- The judge did, however, grant Trump's request to pause a three-year ban to bar him from pursuing loans from banks in New York, potentially allowing him to collect funds for his bond.
State of play: On Feb. 16, New York Judge Arthur Engoron ordered Trump to pay a base sum of $355 million plus interest.
- Trump is responsible for about $112,000 in interest per day. New York Attorney General Letitia James posts a running tally of what the former president and other defendants in the case owe on her X account. James' total is based on the full $364 million fine set by Engoron for all defendants, not just Trump.
- Engoron also prohibited Trump, his defendants, and his company from getting loans from New York banks for three years, per AP.
- Trump filed an appeal challenging the ruling on Monday.
Between the lines: In Monday's court filing requesting the interim stay, Trump's lawyers deemed the fine "unprecedented and punitive."
- The request for an interim stay is coupled with the lower bond amount. If Trump posted a bond covering the full amount owed, it would trigger an automatic stay of enforcement, per AP.
- "The exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond," Trump's lawyers wrote.
- "Appellants nonetheless plan to secure and post a bond in the amount of $100 million," they added.
The other side: The New York Attorney General's Office responded to the stay request in its own court filing Wednesday, writing that it "intends to oppose the stay motion in full."
- The attorney general's office wrote that there was "no merit" to Trump's argument that posting a full bond is unnecessary because Trump is willing to post a partial bond amount.
- Trump's lawyers "all but concede ... that Mr. Trump has insufficient liquid assets to satisfy the judgment ... These are precisely the circumstances for which a full bond or deposit is necessary," per the filing.
Neither Trump's lawyers nor the New York Attorney General's Office responded to Axios' request for comment.
