Judge rejects $100 million bail proposed by Trump when appealing fraud fine

A judge rejected the former US president’s offer this Wednesday donald trump pay a bail of 100 million dollars to partially cover the fine of more than 355 million that a court of New York imposed on him for civil fraud.

Trump, who rose to public prominence as a real estate developer and businessman in New York Before entering politics, he may have to sell some of his historic properties to cover the fine if his ongoing appeal is rejected.

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Trump has been asked to post bail to face a Feb. 16 ruling that he manipulated the value of his properties to obtain more favorable interest rates on loans and insurance.

The bond is a guarantee that you will pay any fine imposed on you if your appeal is rejected and would normally be underwritten by an insurance company or specialist bond company.

Trump, who is likely to be the Republican presidential nominee in November’s presidential election, was also banned from conducting business in New York state for three years and from taking out loans from institutions based there.

Instead of providing a full $355 million guarantee, plus considerable interest, Trump’s lawyers asked the Resources Division from the New York Supreme Court “a bond worth 100 million dollars”.

The writing said that “big“Trump real estate”would be sufficient in themselves to adequately secure any sentence that is confirmed”.

“(The) bond would simply serve as additional collaterall”, according to the former president’s defense.

Trump’s lawyers scratched the judge’s original ruling Arthur Engoron as “exorbitant and punitive”.

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O “Engoron’s illegal and unconstitutional total ban on loan transactions would make it impossible to secure and pay a full bond“they said.

Trump, who faces 91 criminal charges in other cases, has used his legal troubles to energize his supporters and denounce his likely rival, the president. Joe Bidenstating that the processes are “just one way“to do this”damage to elections”.

Trump repeatedly attacked Judge Engoron during the proceedings, accusing him of being “out of control”.

Source: Elcomercio

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I am Jack Morton and I work in 24 News Recorder. I mostly cover world news and I have also authored 24 news recorder. I find this work highly interesting and it allows me to keep up with current events happening around the world.