Trump's lawyers condemn Letitia James for denying $454 million appeal

Attorneys for former President Donald Trump criticized New York Attorney General Letisha James, who asked an appeals court on Wednesday to deny Trump's request to lower or delay his $454 million bail to cover civil fraud charges.

James argued that Trump had not explored all options for paying the lien, including securing multiple small liens or taking the property to court. She asked the court to deny Trump's request for a stay of foreclosure without collateral while his attorneys finalize the appeal process.

Trump's attorney Clifford Robert said James' proposals were "illogical," "unconstitutional," "impractical" and "unfair." In a letter to the New York Appellate Division, Robert wrote, "Worst of all, the Attorney General argues that Defendants should be forcibly divested of iconic multibillion-dollar real estate properties in a 'divestiture.'" "As set forth in Defendants' pleadings, these separate liens would still require full collateralization in cash or cash equivalents in excess of $557 million, regardless of how many sureties are involved," Robert explained of James' proposal to secure several smaller liens.

Robert continued: "It would be wholly illogical - and would be an example of an unconstitutionally high monetary sanction and misappropriation - to require Defendants to sell real estate in general, and especially under the 'unbundling' program, in order to be able to appeal the Supreme Court's lawless decision, as it would cause damages that cannot be recovered once Defendants win, which is very likely on appeal."

Trump needs to submit liquid collateral (cash, securities) covering the full amount of the $454 million judgment to stay his execution, but 30 cautionary companies have informed Trump that they will not accept real estate as collateral. If Trump can't pay the $454 million bond, James could freeze his bank accounts and real estate.

According to USA Today, James may try to recover the said amount in three ways: putting a lien on the property, collecting rent from the property, and transferring funds from Trump's New York accounts. "There are quite a few options in New York," Mitchell Epner, a longtime New York litigator, told USA Today. "It's not just limited to real estate here."