Trump’s bid to overturn $454 million civil fraud verdict

Former President Donald Trump on Monday appealed the $454 million verdict handed down on Feb. 16 by New York Judge Arthur Engoron in the civil fraud case against him.

Trump’s lawyers filed the appeal asking the state’s intermediate appellate court to overturn the decisions made by Engoron in the case brought on by Attorney General Letitia James.

“They’re asking the appeals court to decide whether Engoron ‘committed errors of law and/or fact’ and whether he abused his discretion or ‘acted in excess’ of his jurisdiction,” per The Associated Press. “Trump’s appeal won’t automatically halt enforcement of the judgment.”

Interest on Trump’s judgment will accumulate at a rate of $111,984 daily until the amount is settled, according to CNBC News.

The 2024 presidential frontrunner has until March 25 to obtain a stay, which is a legal tool that halts the collection process during an appeal. To secure an automatic stay on the judgment while the appeal is underway, Trump is required to post the full sum as a bond.

“The notices do not indicate that Trump has secured an appeal bond, which is required in order to pause the judgment from being enforced,” CNBC News added. “Experts have said that Trump could face challenges finding a bond agency to work with him and that he may have to liquidate some of his assets.”

Trump and his two sons, who are also defendants in the case, are contesting all penalties in Engoron’s decision in the appeal, which include a pause on them being able to do business in the state of New York.

Alina Habba, one of Trump’s attorneys on the case said, “We trust that the Appellate Division will overturn this egregious fine and take the necessary steps to restore the public faith in New York’s legal system,” per CBS News.

If the appellate court upholds the verdict made by Engoron, Habba said, “it will serve as a signal to every single American that New York is no longer open for business,” according to the AP.