Trump to face 1st criminal trial on April 15, sees bond requirement lowered in civil case
If Trump can now put up $175M US within 10 days, he can forestall seizure of assets in civil case
A New York judge has scheduled an April 15 trial date for Donald Trump in what will be the first criminal case involving an ex-president, involving allegations that he falsified business records during the 2016 presidential campaign.
Judge Juan M. Merchan made the ruling Monday, but not before scolding the former president's lawyers as he weighed when to reschedule the trial, after a last-minute document dump caused a postponement of the original date. Merchan had bristled at what he suggested were baseless defence claims of "prosecutorial misconduct."
Trump's defence team, which subpoenaed for the records in January, didn't bring up concerns about potentially missing documents weeks earlier.
"Why did you wait until two months before trial? Why didn't you do it in June or July [2023]?" Merchan asked Todd Blanche, a Trump lawyer.
Trump has pleaded not guilty to charges that he falsified business records. Manhattan prosecutors say Trump did it as part of an effort to protect his 2016 campaign by burying what he says were false stories of extramarital sex. It is alleged three people received such payments: a former Trump Tower doorman; porn actress Stephanie Clifford, a.k.a. Stormy Daniels; and Karen McDougal, a former Playboy Playmate of the Year.
Trump on Monday repeated to reporters his claims that the case is a "witch hunt" and "hoax," though he has not addressed the merits of the case recently.
When reports about a possible payment from Trump to Clifford first came to light years ago, Trump at first denied a payment had been made. He later admitted he encharged his former lawyer Michael Cohen to make the payment to "stop the false and extortionist accusations made by her about an affair."
The case, brought by Manhattan District Attorney Alvin Bragg, centres on allegations that Trump falsely logged $130,000 US in payments as legal fees in his company's books "to disguise his and others' criminal conduct," as Bragg's deputies put it in a court document.
Trump is the Republican Party's presumptive nominee for the presidency for a third consecutive time.
The New York trial represents one of four criminal indictments the former president faces, involving nearly 90 charges. Trial dates for two of the other cases have been postponed pending legal wrangling, while a date in a Georgia election interference case has not yet been set.
Bond requirement cut substantially
Meanwhile, a New York appeals court on Monday agreed to hold off collection of Trump's $454 million US civil fraud judgment — if he puts up $175 million within 10 days.
If he does, it will stop the clock on collection and prevent the state from seizing his assets while he appeals.
The development came just before New York Attorney General Letitia James was expected to initiate efforts to collect the judgment.
Earlier this week, Trump's lawyers pleaded for a state appeals court to halt collection, claiming it was "a practical impossibility" to get an underwriter to sign off on a bond for such a large sum.
The ruling was issued by the state's intermediate appeals court, the Appellate Division of the state's trial court, where Trump is fighting to overturn a judge's Feb. 16 finding that he lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
Under New York law, filing an appeal generally doesn't hold off enforcement of a judgment. But there's an automatic pause if the person or entity posts a bond that covers what's owed.
The ex-president's lawyers have said it's impossible for him to do that. They said underwriters wanted 120 per cent of the judgment and wouldn't accept real estate as collateral. That would mean tying up over $557 million in cash, stocks and other liquid assets, and Trump's company needs some left over to run the business, his attorneys have said.
Trump's attorneys have asked an appeals court to freeze collection without his posting a bond. The attorney general's office has objected.
With files from CBC News