The Supreme Court of the State of New York Appellate Division agreed to block former President Donald Trump’s $464 million bond if he posts $175 within the next ten days for his New York civil fraud case.
Trump’s lawyers asked the court to lower the bond of pause payment, which was due today.
I think we can all agree that Judge Arthur Engoron went overboard with his ruling. He placed the bond on Trump but also banned him from running any New York company and from obtaining loans from New York banks.
Trump’s sons faced the same punishment.
The order also granted an extension of staying enforcement in other parts of the judgment:
(1) ordering disgorgement to the Attorney General of $464,576,230.62, conditioned on defendants-appellants posting, within ten (10) days of the date of this order, an undertaking in the amount of $175 million dollars(2) permanently barring defendants Weisselberg and McConney from serving in the financial control function of any New York corporation or similar business entity(3) barring defendants Donald J. Trump, Weisselberg and McConney from serving as an officer or director of any New York corporation for three years;(4) barring defendant Donald J. Trump and the corporate defendants from applying for loans from New York financial institutions for three years; and(5) barring defendants Donald Trump, Jr. and Eric Trump from serving as an officer or director of any New York corporation in New York for two years.
“The aforesaid stay is conditioned on defendants-appelants perfecting the appeals for the September 2024 Term of this Court,” the five-judge panel wrote.
The panel denied two parts of the motion:
(1) extending and enhancing the role of the Monitor and(2) directing the installation of an Independent Director of Compliance.
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