Former President Donald Trump is currently facing legal troubles related to a civil fraud case, as he attends his Trump Organization civil fraud trial in New York State Supreme Court. Despite the ongoing legal battle, Trump’s lawyers recently highlighted the challenges he faces in obtaining an appeal bond to prevent New York’s attorney general from collecting on a $454 million civil fraud judgment against him.
The situation escalated when more than 30 surety companies rejected Trump’s request for a bond, pushing Attorney General Letitia James closer to seizing Trump’s properties to collect the judgment. In response, Judge Arthur Engoron issued a significant order, demanding that Trump’s company, the Trump Organization, must inform a court-appointed financial watchdog, Barbara Jones, about any future attempts to secure surety bonds. This mandate includes disclosing details about the claims, personal guarantees, and conditions associated with the bond-seeking process.
Interestingly, the level of disclosure required by the court surpasses what was previously revealed about a $91.6 million appeal bond that Trump recently obtained through a Chubb insurance subsidiary in a separate civil defamation case. Barbara Jones, a retired federal judge appointed as the financial monitor for the Trump Organization by Engoron, plays a pivotal role in overseeing the company’s financial activities.
Despite resistance from the Trump Organization, which has expressed grievances against Jones in court filings, Engoron has maintained her position as the monitor for the company for a three-year term. This decision follows Engoron’s ruling holding Trump, his sons, his company, and two executives civilly liable for engaging in fraudulent practices to manipulate Trump’s asset values for personal gain.
As this legal saga unfolds, the outcome remains uncertain, with the potential for updates and developments in the near future. Stay tuned for more information on this evolving story.