Friday, March 01, 2024 – A New York Appeals Court judge has denied former President Trump’s request to delay payment of the $464 million owed to the state after Attorney General Letitia James’ lawsuit, but said he will temporarily allow the 2024 front-runner and his sons to continue running their business during the appeals process.
Trump and his sons Donald Trump Jr. and Eric Trump were
barred earlier this month from operating their business in New York for a range
of two to three years. Trump was also found liable for hundreds of millions of
dollars in damages in the civil fraud case brought against him, his family and
the Trump Organization by New York Attorney General Letitia James.
Trump appealed the ruling but on Wednesday, a New York
Appeals Court judge ruled that the former president must post a bond for the
full amount of the judgment and the independent director of compliance will be
appointed.
The judge will temporarily allow Trump and his sons to
continue running the business as they appeal the decision.
The filing is a temporary order before the motion goes
before the full Appeals Court. James’ brief to the panel is due March 11, and
Trump's replies are due March 18.
The ruling comes after New York Judge Arthur Engoron (pictured below) handed down a ruling earlier in February after a trial beginning in October and coming from James' lawsuit alleging the former president inflated his assets and committed fraud.
Engoron ruled that Trump and
other defendants were liable for "persistent and repeated fraud,"
"falsifying business records," "issuing false financial
statements," "conspiracy to falsify false financial statements,"
"insurance fraud" and "conspiracy to commit insurance
fraud."
The judge also barred Donald Trump Jr. and Eric Trump from
serving as an officer or director of any New York corporation or legal entity
in New York for two years.
Engoron also "permanently" barred defendants Allen
Weisselberg, the former chief financial officer of the Trump Organization, and
former corporate controller Jeffrey McConney from "serving in the
financial control function of any New York corporation or similar business
entity registered and/or licensed in New York State" and as a director of
any New York corporation or other legal entity in New York for three years.
Trump dismissed the trial as a "witch hunt"
throughout the process, accusing both Engoron and James of serving as political
operatives for Democrats. Trump's legal team also repeatedly blasted the lack
of a jury in the trial.
Trump and his family denied any wrongdoing, with the former
president saying his assets had been undervalued. Trump's legal team insisted
that his financial statements had disclaimers, and made it clear to banks that
they should conduct their own assessments.
Trump has said his financial statements were
"perfect," and stressed that the bank loans were repaid and "as
happy as can be."
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