Trump's astronomical bond slashed by appeals court

 March 25, 2024

This story was originally published by the WND News Center.

A bond demanded by a leftist judge in New York who decided in a case that had no victims that President Donald Trump committed fraud and should be fined almost half a billion dollars has been slapped down by an appeals court.

The Daily Caller News Foundation reports the ruling means the court will block the collection of Engoron's judgment, a punishment demanded by New York Attorney General Letitia James as the answer to her campaign promise to "get" Trump if Trump's companies can post a bond of $175 million in 20 days.

The original deadline for the bond was Monday. And Trump's lawyers already had offered to post a bond of $100 million to appeal Engoron's punishment.

Trump said, "Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those who rule above him - A very bad situation in which to place New York State and the Rule of Law!

"Engoron has disrespected the Appellate Division and its very clear and precise ruling. He should be made to do so, and at the same time, release the GAG ORDER. This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered.

"We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million.


Earlier in the case, Trump, and many other experts in real estate, guffawed when Engoron claimed Trump's Mar-a-Lago property in Florida was worth only $18 million. In reality, real estate values in the exclusive neighborhood could make it worth 50 times that much, or more.

"How did the Attorney General of the State of New York force this Corrupt Judge to do that to help her narrative - AND WHY?" he posted.

Trump has reported nearly $500 million in cash. Fox News reported his company, Trump Media & Technology Group, the parent company of Truth Social, is set to become public after a merger on Monday. The company will trade on the Nasdaq as "DJT." Trump owns more than 78 million shares of the stock, valued at nearly $4 billion."

Engoron's decision came without any jury after months of James' claims about activities that commercial real estate brokers have described as ordinary.

Trump and his companies have denied any wrongdoing. The appeals decision will allow him to continue running the company, something James opposed, while the appeal is being considered.

"Trump's defense also brought in expert witnesses, including New York University accounting professor Eli Bartov, who reviewed the Trump financial statements at issue in the case and said he found no evidence of accounting fraud," the report said.

Trump's lawyers had explained a week ago bonding companies were unable to consider a bond of that magnitude.

There also had been arguments against Engoron's financial demands based on the constitutional principles against excessive punishment, and equal access to the courts, meaning Engoron's demands might have been established simply to prevent Trump from being able to appeal his ruling.

The report noted that legal analysts had predicted James "will most likely move to seize former President Donald Trump's bank accounts" without a bond being provided.

They said the bank accounts likely would be more readily seized than property, with its complicated ownership status.

WND reported earlier that a commentary published at the Washington Examiner warned the agenda pursued by James and Engoron was turning America into a "3rd World" country with their attack on Trump.

They worked together to come up with a $450 million penalty for Trump and his business through an archaic fraud law – despite the fact there were no complaints against Trump, no one lost any money, all the loans were repaid, and the factors involved essentially included routine real estate deal procedures.

"The biggest casualty of this grotesque abuse of prosecutorial power will be America. We are losing the one thing that separates us from Third World countries: equal justice under the law," explained Elizabeth Stauffer, a fellow at the Heritage Foundation Academy and a contributor to multiple publications.

She pointed out that James repeatedly has threatened that if Trump cannot pay the fine plus interest, she will move to seize his New York assets.

The appeals court's decision to suspend Engoron's decision and allow a bond means Trump's case then can be heard by appeals judges.

The commentary pointed out, "Not only was this a victimless crime, according to George Washington University Law School professor Jonathan Turley, but during the trial, 'witnesses [loan officers] testified that they wanted to do more business with Trump, who was described as a ‘whale’ client with high yield business opportunities.'"

And the ramifications already have started, with Shark Tank star Kevin O’Leary perceiving the Democrats’ abuse of the legal system against Trump as an "attack on America."

"The reason this is the No. 1 economy on Earth is because we have laws and we have due process. And we have property rights. It attracts capital from all around the world. All of that is being shaken to the core here. It has absolutely nothing to do with Donald Trump at this point, in my view, and it is completely bipartisan. This is an attack on America. No one is going to put any money to work in New York in these amounts until this thing settles down. The whole world is watching, and everybody’s waiting for one thing we haven’t got yet: adult supervision," he said.

Stauffer suggested given the goals established by James and Engoron, "What investor, foreign or domestic, would risk buying property in New York? Or in any other Democratic-run U.S. city? James is going for immediate gratification here and ignoring the unintended medium- and long-term consequences that will surely follow. "

"O’Leary is right. Love him or hate him, this is bigger than Donald Trump. The biggest casualty of this grotesque abuse of prosecutorial power will be America."

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