New York Attorney General Letitia James appeared to taunt former President Trump about the interest he may own in a civil fraud judgment.
Trump’s legal team on Monday appealed a Feb. 16 ruling from New York Judge Arthur Engoron’s finding him liable for more than $350 million in damages in the civil fraud case brought against him by James. Engoron ordered Trump to pay just over $354 million, with post-judgment interest accruing at nearly $112,000 per day.
“In a massive victory, we won our case against Donald Trump for engaging in years of incredible financial fraud to enrich himself. Trump, Donald Trump, Jr., Eric Trump, and his former executives must pay over $450 million in disgorgement and interest,” James wrote on X, celebrating on the same day of the judgment.
On Feb. 23, James, who has denied having a “personal vendetta” against Trump despite remarks suggesting otherwise, posted flatly, “$464,576,230.62.”
“+$114,553.04,” she added in another post the next day, referring to the potential added interest Trump may be on the hook for.
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Again, on Feb. 25, James posted, “+$114,553.04 = $464,805,336.70.”
New York Attorney General Letitia James said she is “prepared” to ask the judge to seize former President Trump’s assets if he cannot pay the $354 million judgment handed down in his civil fraud case. (ABC News/Screenshot/Brendan McDermid-Pool/Getty Images)
James’ case also targeted Trump’s family and the Trump Organization.
Engoron ruled that Trump and co-defendants – his adult sons, Donald Trump Jr. and Eric Trump and two former Trump Organization executives – were liable for “persistent and repeated fraud,” “falsifying business records,” “issuing false financial statements,” “conspiracy to falsify false financial statements,” “insurance fraud,” and “conspiracy to commit insurance fraud.”
The former president’s lawyers filed notices of appeal Monday, asking the state’s mid-level appeals court to overturn Engoron’s Feb. 16 verdict in James’ lawsuit and reverse staggering penalties that threaten to wipe out Trump’s cash reserves.
Former President Trump, center, surrounded by South Carolina Gov. Henry McMaster and Lt. Gov. Pamela Evette, on Feb. 24, 2024 in Columbia, South Carolina, before Trump defeated opponent Nikki Haley in the state’s Republican primary. (Win McNamee/Getty Images)
Trump’s lawyers wrote in court papers that they are 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. A notice of appeal starts the appeals process in New York. Trump’s lawyers will have an opportunity to expand on their grievances in subsequent court filings.
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Trump was not required to pay his penalty or post a bond in order to appeal, and appealing will not automatically halt enforcement of the judgment.
The Republican presidential frontrunner has until March 25 to secure a stay, a legal mechanism pausing collection while he appeals. Trump would receive an automatic stay if he puts up money, assets or an appeal bond covering what he owes. Trump’s lawyers could also ask the appeals court to grant a stay without obtaining a bond or with a bond for a lower amount.
New York Attorney General Letitia James addresses the verdict against former President Trump in a civil fraud trial on Feb. 16, 2024 in New York City. (Michael M. Santiago/Getty Images)
There was no indication on the court docket Monday that Trump had already posted an appeal bond or asked for a stay, according to The Associated Press.
“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,” Trump lawyer Alina Habba said.
Trump maintains that he is worth several billion dollars and testified last year that he had about $400 million in cash, in addition to properties and other investments.
James, a Democrat, told ABC News that if Trump is unable to pay, she will seek to seize some of his assets.
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Trump said Engoron’s decision, the costliest consequence of his recent legal battles, was “election interference” and “weaponization against a political opponent.” Trump said he was being punished for “having built a perfect company, great cash, great buildings, great everything.”
Fox News’ Anders Hagstrom and The Associated Press contributed to this report.