Former President Trump's attorneys have formally requested a 30-day extension to pay the $355 million business fraud verdict imposed on him by New York Attorney General Letitia James (D).
The attorneys, in a letter to Judge Arthur Engoron, raised concerns about the hurried enforcement, citing the significant magnitude of the judgment. They argued that New York Attorney General Letitia James was rushing to enforce the judgment, calling it "unseemly."
"If the court decides to enter the attorney general's judgment, the defendants request the Court stay enforcement of that Judgment for thirty (30) days," Trump's attorney wrote in the filing, as reported by CNN. "Given that the court-appointed monitor continues to be in place, there is no prejudice to the Attorney General in briefly staying enforcement to allow for an orderly post-judgment process, particularly given the magnitude of Judgment."
The request, if granted, would delay the enforcement of the verdict by 30 days. In such a case, Trump would have one month to post bond and appeal the decision.
James had previously warned of seizing Trump's assets if he failed to comply with the financial penalty. The recent verdict and an additional $100 million in prejudgment interest represent the most substantial financial sanction imposed on Trump and his corporate entities.
Legal experts anticipate that satisfying this penalty may necessitate Trump to liquidate some of his real estate holdings.
In response to the looming enforcement, Trump's attorney proposed a temporary stay on the judgment's execution. The attorney emphasized the continued presence of a court-appointed monitor and asserted that a brief delay would facilitate an orderly post-judgment process. The request aligns with the standard 30-day period granted for posting a bond and lodging an appeal following the entry of a judgment.
The fraud case stemmed from Trump's falsification of his net worth and property values to obtain more favorable financing terms, as alleged by the state of New York. Accusations included submitting misleading information to financial institutions and insurers, constituting evidence of fraudulent practices.
Meanwhile, the verdict also entails a three-year ban on Trump's involvement in business operations within New York state, a measure he has vowed to challenge through the appeals process.
The judicial response to Trump's extension plea remains pending as the legal dispute unfolds amidst escalating financial and reputational stakes for the former president.
