Δ
Thanks for contacting us. We’ve received your submission.
Donald Trump was granted a partial reprieve as an appeals court drastically cut the $454 million bond he was required to post in his New York civil fraud case Monday.
The court reduced the massive amount to $175 million, a reduction of nearly 62%, and gave him 10 days to come up with the funds.
The embattled presumptive Republican presidential nominee must either fork over the money or post a bond for the amount as he seeks to appeal the massive judgement ordered against him last month.
“There should be no FINE,” Trump, 77, posted on Truth Social earlier Monday, repeating he “did nothing wrong!”
“Why should I be forced to sell my ‘babies’ because a CORRUPT NEW YORK JUDGE & A.G. SET A FAKE AND RIDICULOUS NUMBER.”
Trump’s attorneys have said they couldn’t secure a bond and didn’t want to sell his properties at “fire sale” prices to come up with the funds.
New York Attorney General Letitia James — whose office prosecuted the case — said she wouldn’t hesitate to seize his prized Big Apple buildings if Trump didn’t pony up.
Trump was separately required to show up to Manhattan court Monday in a criminal “hush money” case.
He has maintained his innocence in both that criminal case and the AG’s case accusing him of inflating his net worth to the tune of billions a year on annual financial statements to get an edge on loan and insurance terms.
But Manhattan Supreme Court Justice Arthur Engoron — who oversaw the non-jury trial for three months last year — found Trump had committed fraud and ordered he pay the hefty penalty Feb. 16.
The real estate tycoon has asked an appeals court to pause the order forcing him to post the bond while he fights the case in the higher court. But the Appellate Division, First Department has yet to rule on the request.
But Manhattan Supreme Court Justice Arthur Engoron — who oversaw the non-jury trial for three months last year — found Trump had committed fraud and ordered he pay the hefty penalty Feb. 16.
Trump has a few options for how he could deal with the Monday deadline including, simply putting up the bond, attempting to protect his assets by filing for chapter 11 bankruptcy, waiting to see if the appeals court will stay the bond or letting the deadline lapse, allowing the AG to start going after his properties.
The 45th president either owns or has a stake in New York City buildings including Trump Tower, 40 Wall St, the Trump International Hotel and Tower, Trump Park Avenue and 1290 Avenue of the Americas.
The former commander-in-chief fired off a series of other posts on Truth over the last 24 hours alleging all four criminal cases and the civil fraud case against him are part of President Biden’s alleged attempt to interfere with the 2024 election by carrying out “lawfare” against him.
In addition to the criminal and civil New York cases, Trump also faces a criminal case in Georgia for alleged election fraud, he faces a case accusing him of illegally hoarding government documents in Mar-a-Lago and he faces a case in Washington D.C. for his alleged involvement in the Jan. 6 Capitol Riot.
Advertisement