An appeals court drastically reduced former President Trump’s bond payment from $464 million to $175 million on Monday, giving him 10 days to make the payment. Trump had faced the initial deadline as a result of civil fraud allegations brought by New York Attorney General Letitia James. Trump vowed to fight the case all the way to the U.S. Supreme Court and criticized the judge’s handling of the matter, calling the situation a bad one for New York State and the rule of law.
Despite Trump’s claims of innocence and accusations against Judge Arthur Engoron and Letitia James, the court decision to lower the bond was seen as a victory for Trump, who indicated that he would comply with the new ruling. The reduced $175 million bond would prevent James from seizing Trump’s assets while he continues his appeal. However, Trump continued to express frustration with the court’s handling of the case, particularly Judge Engoron’s decisions regarding the value of Trump’s properties.
James’ spokesperson emphasized that Trump still faces accountability for the alleged fraud, with a $464 million judgment plus interest still hanging over him. Trump’s legal team has appealed the ruling and requested a stay on the civil fraud judgment, arguing that the bond was too high to be practical for a private company like Trump’s. Despite his ability to afford the bond, Trump is resisting paying it, citing the unfair treatment in the legal proceedings conducted by Engoron and James.
The trial, stemming from James’ investigation into Trump’s business practices, concluded with Engoron finding Trump and other defendants liable for various charges, including persistent fraud, falsifying records, issuing false financial statements, and insurance fraud. Despite Trump’s denials, the court’s ruling stands for now, pending the outcome of Trump’s appeal. Throughout the case, Trump has accused Engoron and James of being politically motivated in their actions against him, while his legal team has questioned the lack of a jury trial in the proceedings.
Trump’s legal defense presented witnesses, including former Deutsche Bank executives and accounting experts, who testified in support of Trump’s innocence. The defense argued that there was no evidence of accounting fraud or wrongdoing in Trump’s financial statements, attributing any discrepancies to errors. Despite the defense’s efforts to discredit the charges against Trump, the court ruled in favor of James’ accusations of fraud and upheld the $464 million judgment against him. The appeals court decision to reduce the bond payment provided a temporary reprieve for Trump, allowing him to continue his legal battle against the civil fraud allegations.
