A New York appellate judge has denied Donald Trump’s request to pause the collection of a $454 million civil fraud penalty while he appeals, Associated Press reports.
The judge rejected Trump’s offer of a $100 million bond but granted a stay on part of the verdict that banned Trump and his company from borrowing money from New York financial institutions. Trump’s lawyers argued that the lending ban made it impossible for him to secure a bond for the full amount.
Trump’s legal team argued that he may need to sell properties to cover the penalty, which is increasing daily by $112,000 due to interest, and expressed concern over his ability to regain them if his appeal succeeds. Trump has until March 25 to secure a stay before facing asset seizure.
The judgment stems from allegations that Trump and his company inflated his wealth to deceive banks and insurers to secure favorable loans and deals. The judge’s decision is temporary, pending further review by a five-judge appellate panel, with a ruling expected in a few weeks.
