(PatriotNewsDaily.com) – On Wednesday, a New York appellate division judge ruled that there would not be a pause on the multimillion-dollar penalties that former President Donald Trump is facing in his civil fraud case as he is trying to appeal the ruling. However, Trump is given the option to apply for loans.
Justice Anil Singh has denied Trump’s request to pause the over $454 million in penalties that were imposed on him by a different New York judge relating to a case of fraud and having conspired to change his net worth to receive more insurance and tax benefits.
Trump has offered that while waiting for the appeal process to be completed he could post a $100 million bond. He further wrote in a court filing that the judgment in the case had effectively made it “impossible” for him to get access to a bond that would cover the entire amount, which would automatically pause the penalties enforcement.
Singh did however agree to a temporary pause on two of the other elements of the ruling against Trump and his co-defendants. Judge Arthur Engoron had previously ruled that Trump was not allowed to serve in a leadership position in any business in the state and had barred Trump from applying for loans from any financial institution in the state.
Earlier on Wednesday Trump’s lawyers stated that the ruling by Engoron effectively precluded them from being able to get a surety for the entire amount. This would mean that Trump would be required to provide all of the cash on his own, which is something that could potentially require him to liquidate other assets and properties.
Copyright 2024, PatriotNewsDaily.com
