Trump bond lowered to $175 million as he appeals civil fraud judgment in New York
Trump bond lowered to $175 million as he appeals civil fraud judgment in New York
A New York appeals court has given Donald Trump 10 more days to post his bond as he appeals the civil fraud judgment against him and cut the amount necessary to $175 million
cross-posted from: https://lemmy.world/post/13534176
A New York appeals court has given Donald Trump 10 more days to post his bond as he appeals the civil fraud judgment against him and cut the amount necessary to $175 million.
It’s a major lifeline for the former president, who, along with his adult sons and his company, were fined more than $464 million, including interest, after Judge Arthur Engoron found Trump and his co-defendants fraudulently inflated the value of his assets.
The ruling staves off the prospect, for now, of New York Attorney General Letitia James seeking to seize the former president’s property to enforce the judgment against him. Trump had been struggling to come up with the means to post a bond of more than $500 million, the total that he would have needed before Monday’s appellate decision.
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The ruling stated that the $175 million bond will be in place until at least September, meaning James won’t be able to seek to enforce the judgment against Trump until then.
This is the best summary I could come up with:
It’s a major lifeline for the former president, who, along with his adult sons and his company, were fined more than $464 million, including interest, after Judge Arthur Engoron found Trump and his co-defendants fraudulently inflated the value of his assets.
The ruling staves off the prospect, for now, of New York Attorney General Letitia James seeking to seize the former president’s property to enforce the judgment against him.
Trump had been struggling to come up with the means to post a bond of more than $500 million, the total that he would have needed before Monday’s appellate decision.
Trump said on Truth Social on Monday that he would “abide by the decision and post either a bond, equivalent securities, or cash” to meet the terms of the judgment.
The ruling stated that the $175 million bond will be in place until at least September, meaning James won’t be able to seek to enforce the judgment against Trump until then.
The order blocked those penalties in the judgment but also stated that the court-ordered monitor and the appointment of a compliance director will remain in place.
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