Donald Trump’s lawyers haven’t properly explained their request to postpone payment on the massive $364 million bank fraud judgment (plus interest) levied against the former president last week, the judge in the case said Thursday before denying their demands.
It’s a major blow to Trump’s pocketbook, even as he vows to appeal the decision and denies any wrongdoing.
“You have failed to explain, much less justify, any basis for a stay,” Manhattan Supreme Court Justice Arthur Engoron wrote Thursday in an email to Trump’s legal team. “I am confident that the Appellate Division will protect your appellate rights.”
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New York Attorney General Letitia James, whose office handled Trump’s civil case, submitted to the court a judgment order earlier this week—a document that when approved would begin the state’s collections process.
Trump’s lawyers claimed that James had made errors in the proposal, and even attempted to argue that they should be allowed to submit a “counter judgment”—something Engoron seemingly balked at.
He signed James’ order Thursday after addressing the Trump legal team’s concerns. After his clerk signs—something that is expected to happen almost immediately—the former president will have 30 days to appeal the judgment.
James said earlier this week that if Trump refused to pay the amount he owes, she would not be afraid to seize some of his beloved New York properties—including Trump’s eponymous office building in the financial district.
“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James told ABC News Tuesday.
“We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day,” she added.
