Former U.S. President Donald Trump attends the Trump Organization’s civil fraud trial in the New York State Supreme Court in the New York borough of Manhattan on October 25, 2023.
Jeenah Moon | Reuters
A New York judge on Thursday ordered Donald Trump’s company to disclose to a court-appointed financial regulator any future efforts to raise bonds to secure a $454 million civil fraud judgment against the former president.
Judge Arthur Engoron’s order came as Trump sought to avoid paying that judgment while appealing the white-collar fraud verdict in Manhattan Supreme Court.
Trump’s lawyers told an appeals court on Monday that it would be “impossible” for him to enter into a bond that would prevent New York Attorney General Letitia James from collecting the judgment during her appeal. The lawyers said more than 30 bail companies rejected Trump’s request for bail.
James can begin seizing Trump’s property next Monday to collect the judgment unless the appeals court grants him a waiver or he manages to secure bail or post properties as collateral for the court.
In his order Thursday, Engoron told the Trump Organization it must notify its financial regulator, Barbara Jones, “in advance of any efforts to secure guarantees.”
Judge Arthur Engoron sits with his clerk as he presides over the civil fraud trial of former President Donald Trump and his children in the New York State Supreme Court on November 13, 2023 in New York City.
Curtis means | Getty Images
The Company must inform Jones of any claims by the Trump Organization to receive the bonds, of any personal guarantees made by Trump or other defendants, and of any conditions imposed on the Company.
This level of disclosure would go well beyond what Trump disclosed about a $91.6 million appeal he recently received from a Chubb insurance subsidiary to win a civil defamation judgment in favor of writer E. Jean Carroll.
Jones, a retired federal judge, was appointed by Engoron to be the Trump Organization’s financial monitor. The company became disgruntled under her watch and complained about her in filings with Engoron.
Engoron decided last month that Jones would remain as monitor for three years after finding that Trump, his two adult sons, his company and two executives were civilly liable for fraudulently inflating Trump’s assets for years for financial gain to achieve.
This is breaking news. Please check back for updates.
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2024-03-21 18:35:45
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