Donald Trump wins pause of $454 million civil fraud ruling, averting asset seizures

Mar25,2024



New Delhi: Former US President Donald Trump A victory was scored on Monday as a mid-level state appeals court accepted his request to temporarily block a $454 million civil fraud judgment against him. The ruling allows Trump to defer payment of a larger judgment if he posts the smaller amount of $175 million. deeply concerned Within the next 10 days, protect him Property From seizure By New York State officials.
Trump, who is facing financial challenges, described this decision as an important relief from the impending cash crisis. He had expressed concerns about selling assets at discounted prices to meet the original bond amount.
Under the court's ruling, if Trump meets the new bond requirement within a specified deadline, state officials will be barred from initiating asset seizures. However, the decision does not indicate how the appeals court will ultimately rule on the case or address its merits, a process that could last a year or more.
Speaking to reporters outside a New York courthouse, where he was attending a separate criminal case, Trump expressed his respect for the court's decision and promised to immediately meet the bond requirement.
Meanwhile, the office of New York Attorney General Letitia James, which is handling the civil case, insisted that Trump be accountable for the alleged fraud. The civil case accuses Trump of inflating his net worth to defraud investors and lenders, allegations Trump has vehemently denied.
In addition to the civil case, Trump is also embroiled in multiple criminal proceedings while campaigning to oust Democratic President Joe Biden from office in the upcoming election. Their legal battles have resulted in delays to several criminal trials, although a New York judge recently ruled that a case related to hush money paid to a porn star will proceed on April 15.
Before the court's decision to block the $454 million judgment, Trump faced a deadline to settle the amount, which he claimed not to meet. Failure to comply could have resulted in the seizure of assets, including Trump's prized real estate holdings such as 40 Wall Street in Manhattan.
Trump's financial struggles have extended to his campaign and legal expenses, as he has maintained his innocence in the criminal cases and denounced the civil lawsuits as politically motivated attacks.
The civil case against Trump alleges fraud in the appraisal of other properties, including Mar-a-Lago in Florida and Trump Tower in Manhattan. Despite his ongoing legal battles, Trump remains steadfast in his denial of any wrongdoing.



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