On October 25, 2023, former US President Trump attended the Trump Organization civil fraud trial held at the New York State Supreme Court in Manhattan, New York City.
Gina Moon | Reuters
A New York judge on Thursday ordered Donald Trump’s companies to notify court-appointed financial regulators of any future efforts to obtain bonds to secure a $454 million civil fraud judgment against the former president.
Judge Arthur Engoron’s order comes as Trump appeals a business fraud conviction in Manhattan Supreme Court in an attempt to avoid paying the judgment.
Trump’s lawyers told an appeals court panel on Monday that it was “impossible” for him to post a bond to prevent New York Attorney General Letitia James from collecting the verdict while she appeals. Lawyers say more than 30 surety companies have rejected Trump’s appeal bond requests.
James can begin seizing Trump’s properties next Monday to collect the judgment unless an appeals court grants him an exemption or unless he manages to obtain a bond or put the real estate as collateral in court.
In Thursday’s order, N’Golon told the Trump Organization that its financial supervisor, Barbara Jones, must be “notified in advance of any effort to secure a surety bond.”
Judge Arthur Engoron sits with his clerk as he presides over the civil trial against former President Donald Trump and his children in the New York State Supreme Court on November 13, 2023. Fraud trial.
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The company must inform Jones of any claims made by the Trump Group to obtain the bonds, any personal guarantees by Trump or other defendants and any conditions imposed on the company.
This level of disclosure would far exceed the $91.6 million in appeal bonds Trump recently received from a Chubb insurance subsidiary to secure a civil defamation verdict in favor of author E. Jean Carroll.
Jones, a retired federal judge, was appointed by Ngolon to be the Trump Organization’s financial monitor. The company was outraged by her oversight and complained about her in filings with Engoron.
Ngoren ruled last month that Jones will remain as monitor for another three years after finding that Trump, his two adult sons, his company and two executives fraudulently promoted Trump for financial gain for years. asset value and bear civil liability.
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