Trump’s Bond In Civil Fraud Case Reduced And Delayed

Former President Donald Trump’s $464 million bond in his civil fraud case has been reduced to $175 million. A New York appeals court made the decision on Monday, granting him a 10-day delay to pay the reduced bond.

The court’s decision, which came on the day the deadline for the payment hit, was a saving grace for the GOP presumptive nominee whose assets were at risk. New York Democratic Attorney General Letitia James was prepared to move on his assets as soon as Monday if he failed to make payment.

After New York Judge Arthur Engoron ruled that Trump should pay about $464 million in fine plus interest, Trump’s lawyers said he could not post the full bond, which adds up to $545 million, 120% of the $464 million required to appeal the ruling.

In an appeal to the appellate court, Trump asked for the judgment to be paused or for his bond to be reduced to $100 million. With Monday’s ruling, Trump would not be faced with the tough choice of losing his assets or giving up the nearly $500 million he said he intended for his campaign. As long as Trump posts the renewed $175 million bond in time, James cannot seize any of his assets while his appeals play out.

In addition to reducing his bond, the appeals court also put a hold on other penalties, such as the barring of Trump and top executives from serving in leadership roles in the business in New York for years.

One of his main attorneys in the case, Alina Habba voiced satisfaction with the appellate court’s ruling.

“This monumental holding reins in Judge Engoron’s verdict, which is an affront to all Americans. This is the first important step in fighting back against Letitia James and her targeted witch hunt against my client, which started before she ever stepped foot in office,” she said.

Trump also said after the ruling that he supports the court’s decision. “We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash,” he stated.

Speaking to reporters outside a Manhattan courtroom on Monday, he said, “I thank the Appellate Division for acting quickly, but Judge Engoron is a disgrace to this country, and this should not be allowed to happen.”