Zero Hedge reports that a New York court of appeals has significantly reduced the bond amount required for President Trump to cover the cost of his New York civil fraud trial.
Just hours before New York Attorney General Letitia James promised to begin seizing Trump’s assets in order to settle the excessive $454 million judgment, a panel of five appellate judges significantly reduced the amount to $175 million, roughly a 62% reduction.
Even more favorable for President Trump, the court granted a ten-day extension to fulfill the fund requirement.
Last Thursday, New York Attorney General Letitia James took the first step in seizing assets belonging to Trump. She filed judgments in Westchester County, where Trump’s private estate and golf course, Seven Springs, are located.
President Trump was given until Monday to either pay the bail or persuade the appellate court to allow him to postpone the payment while the appeal is ongoing.
BREAKING: New York Appeals Court Grants Trump 10-Day Extension to Secure $175 million bond while awaiting a ruling on his appeal, instead of of the initial $464 Million.
— Simon Ateba (@simonateba) March 25, 2024
NOTE: The ruling is seen as a victory for Trump, as it prevents the New York Attorney General from seizing… pic.twitter.com/gfWAckQkY5
ABC News reported:
A New York appellate court has ruled that former President Donald Trump can post a lower bond to cover his $464 million civil fraud judgment.
The Appellate Division, First Department said Trump can post a bond “in the amount of $175 million” to cover the judgment.
Trump’s attorneys had argued obtaining a bond for the full amount of $464 million was a “practical impossibility.”
The panel of five judges also opted to delay enforcement of the $464 million judgment by ten days.
President Trump issued a response to the appellate court’s favorable ruling.
Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him – A very bad situation in which to place New York State and the Rule of Law! Engoron has disrespected the Appellate Division and its very clear and precise ruling. He should be made to do so, and at the same time, release the GAG ORDER. This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered. We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS TOTALITY AS SOON AS POSSIBLE. THANK YOU!
In a subsequent statement, Trump demanded that Letitia James and Judge Engoron explain why they determined that Mar-a-Lago was valued at only $18 million.
Judge Engoron and Letitia James should be forced to explain why he ruled that Mar-a-Lago was worth $18,000,000 when, in fact, it is worth from 50 to 100 times that amount. How did the Attorney General of the State of New York force this Corrupt Judge to do that in order to help her narrative – AND WHY?
Trump responded to the New York Appeals Court ruling as he exited the courthouse in Manhattan.
Watch:
🚨 President Donald J. Trump Reacts to New York Appeals Court Ruling pic.twitter.com/AsTD0MWKAo
— Team Trump (Text TRUMP to 88022) (@TeamTrump) March 25, 2024
