Trump given 30 days to find $454M as Engoron officially files civil fraud ruling
February 23, 2024
Former President Donald Trump has 30 days to come up with $454 million, in cash or bond, after Judge Arthur Engoron officially filed his massive civil fraud trial ruling Friday, court records show.
The official filing, titled "JUDGMENT - MONEY," also starts the clock on the 9 percent per annum interest Trump must pay on the judgment, the Attorney General's office told the New York Daily News.
"That figure includes prejudgment interest," noted Law360 reporter Stewart Bishop. "If Trump wants to stay that order while he appeals, he's going to have to post a bond or deposit probably around $454 million with the court."
Trump has pledged to appeal the landmark ruling — delivered after a months-long trial in New York City civil court — and can ask the appellate court to lower the amount he pays on a bond, noted New York Daily News courts reporter Molly Crane-Newman.
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Engoron found Trump liable for defrauding investors by inflating Trump Organization assets. The ruling was made in a summary judgment before the trial even began, spurring the former president to declare he was the victim of a political witch hunt.
The trial that followed was largely to decide damages — which were announced last Friday. He was hit with $355 million in damages, but with a hefty rate of interest.
Perhaps in anticipation of the incoming ruling, New York Attorney General Letitia James posted a small message to X roughly two hours before it was filed.
"Friday feeling: No one is above the law," she wrote.