A New York appeals court has extended the time for former President Donald Trump to post a bond to satisfy a civil fraud judgement against him. The amount required has been reduced to $175 million, providing a lifeline for Trump and his co-defendants, who were fined over $464 million for fraudulently inflating the value of his assets. This ruling delays any possibility of New York Attorney General Letitia James seizing Trump’s property to enforce the judgement against him, as Trump had been struggling to come up with the original bond amount of over $500 million.
Despite the reduction in the bond amount, Trump still needs to find a way to post $175 million by next week. His attorneys had previously stated that they were having difficulty obtaining approval from banks for a bond exceeding $100 million. The bond will remain in effect until at least September, giving Trump more time to secure the necessary funds. This delay means that James cannot enforce the judgement against Trump until after September.
The appeals court order not only reduced the bond amount but also stayed the enforcement of additional penalties imposed by Judge Arthur Engoron. This includes allowing Trump and his sons to continue running a business in New York and obtain loans from New York financial institutions for the time being. However, the court-ordered monitor and compliance director appointed by Engoron will remain in place, ensuring that Trump and his co-defendants continue to comply with the terms of the judgement.
Overall, the appeals court decision provides Trump with some breathing room in terms of satisfying the civil fraud judgement against him. The reduced bond amount and delayed enforcement of penalties offer some reprieve for the former president, who had been struggling to come up with the necessary funds. However, he still faces the challenge of posting $175 million by next week and complying with the terms of the judgement until at least September. The court’s decision to maintain the monitor and compliance director ensures that Trump must continue to adhere to the court’s orders.
