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Trump fraud sentencing deadline nears as son complains

by SuperiorInvest

Former US President Donald Trump speaks to the media after voting at a polling station set up at the Morton and Barbara Mandel Recreation Center on March 19, 2024, in Palm Beach, Florida.

Joe Raedle | fake images

Donald Trump faces the serious risk that New York's attorney general will begin trying to collect a $454 million civil commercial fraud judgment against him on Monday, unless an appeals court gives the former president a final pardon. minute.

Trump's son Eric, a co-defendant in the fraud case, accused Attorney General Letitia James on Sunday of trying to bankrupt his father with the sentencing.

Donald Trump's lawyers have said he cannot afford an appeal bond that would prevent the attorney general from collecting the judgment as he seeks to overturn the fraud verdict, and James told an appeals court last week that he should reject his request for suspend the sentence. go into effect.

“They're trying to deprive him of his money, they want to bankrupt him, they want to hurt him badly,” Eric Trump told Fox News in an interview.

“And it's going to backfire, because he's going to win in November, and everyone in this country universally knows exactly what these people are doing,” Eric said.

Eric also said: “No one has ever seen a bonus of this size.”

“Every person I approached said, 'Hey, can I get a $500 million bonus?' … [T]Hey, they were laughing. They were laughing,” Eric said.

Eric's complaint came days after news that James' office had recorded the massive fraud judgment in the Westchester County, New York, clerk's office. Registration is required if James is to seize Trump's golf course and Seven Springs property in that county to partially satisfy the judgment.

Donald Trump, the presumptive Republican presidential candidate, Eric, and his other adult son, Donald Trump Jr., were found responsible for fraud at the Trump Organization along with the company itself and two executives after a trial in Manhattan Supreme Court. James' office was the plaintiff in the case.

Last month, Judge Arthur Engoron found that the defendants had fraudulently inflated the stated value of Trump's assets to increase his purported net worth and obtain more favorable loan terms for Trump Organization properties. Donald Trump Jr. and Eric Trump have run his father's company since he was elected president in 2016.

Eric Trump, son and co-defendant of former US President Donald Trump, gestures as he walks out of the courtroom on the day of the Trump Organization civil fraud trial, at the New York State Supreme Court in the Manhattan borough of New York City, United States, on November 3. , 2023.

Shannon Stapleton | Reuters

Trump's father is responsible for most of the $464 million in disgorgement and interest that Engoron ordered as damages in the case. However, Trump's children were ordered to pay $4 million each.

Donald Trump asked a mid-level appeals court last week to stay the ruling, and his lawyers said he had found it “impossible” to obtain appeal bail.

Such bail would ensure that the state would receive the sentence if Trump loses his appeal of the case and is otherwise unable to satisfy it.

Trump's lawyers said the surety companies wanted him to have more than $1 billion in cash or equivalent before considering issuing an appeal bond in this case.

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Lawyers said in a court filing that the more than 30 companies he approached for bail refused to accept real estate as collateral.

If the appeals court does not grant Trump a temporary waiver of sentencing, he could ask the state's highest court, the Court of Appeals, to grant it. However, it is not clear that Trump will have much success at that level.

Monday is the first day James can begin the process of seizing Trump property to satisfy the judgment without a court order preventing him from doing so.

Losers in New York civil cases must post an appeal bond or be liable for judgments against them when they appeal a verdict.

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