Monday, July 22, 2024
Monday, July 22, 2024

Milwaukee Press Club 'Excellence in Wisconsin Journalism' 2020, 2021, 2022 & 2023 Triple GOLD Award Recipients

HomeBreakingAppeals Court Reduces $464M Bond in Trump's Fraud Case, Gives Him More...

Appeals Court Reduces $464M Bond in Trump’s Fraud Case, Gives Him More Time


A New York appeals court on Monday gave former President Donald Trump a lifeline in his New York fraud case, allowing Trump to post a much lower bond while he appeals the verdict in the case.

Trump was expected to come up with $464 million or a bond for that amount Monday to appeal a ruling by Superior Court Judge Arthur Engoron in a civil fraud lawsuit brought by New York Attorney General Letitia James in 2022.

In an order, the five-judge state appeals court panel said it would give the Trump Organization and top executives 10 days to post a $175 million bond.

Engoron found that Trump, his company and top executives – including his sons Donald Trump Jr. and Eric Trump – deceived banks and insurers by inflating the value of his family’s wealth on financial statements used to secure loans.

Trump said Monday that he planned to comply with the order.

“We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash,” he posted on Truth Social. “This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million.”

Trump’s attorneys previously said he couldn’t get a bond for the full amount and asked to put up a $100 million bond instead. James wanted Trump to have to put up the full amount and had said she will seek “judgment enforcement mechanisms in court” if Trump can’t come up with the money.

Brett Rowland
Go to Source
Reposted with permission

Latest Articles