Court Lowers Trump’s Bond in NY Fraud Case to $175 Million

Former President Donald Trump’s bond in the New York civil fraud case has been reduced by an appeals court from $454 million to $175 million, with a deadline of ten days for payment.

This development coincides with Trump’s appearance at a hearing in New York regarding the hush money case against him. 

The decision to lower the bond amount came on the same day when New York Attorney General Letitia James could have initiated the seizure of Trump’s real estate assets and bank accounts to settle the original judgment. 

However, this action has been temporarily halted by an order from a five-judge panel in Manhattan Supreme Court’s appellate division.

Trump’s Response

Trump promptly responded to the ruling, stating on social media that he would comply by posting a bond, equivalent securities, or cash as required by the appeals court. 

Earlier, he expressed frustration in a post on Truth Social, suggesting the possibility of selling his real estate assets to meet the substantial judgment while he appeals the case.

 The lawsuit alleges that Trump and others artificially inflated property values over several years.

Trump’s legal team had proposed a $100 million appeal bond, citing difficulties in obtaining the initially demanded $454 million.

They noted in a recent court filing that numerous surety companies were unwilling to provide a bond of such magnitude without Trump presenting substantial cash reserves, an amount which neither he nor his company possesses.

While the appeals court’s decision reduces the bond requirement, it doesn’t diminish the overall judgment. 

Trump and his co-defendants would remain liable for the full amount if they lose their appeal, unless the appeals court revises the judgment accordingly.

Furthermore, the appeals court’s order overturns certain restrictions imposed by Trial Judge Arthur Engoron, including a ban on Trump’s involvement in New York company leadership positions for several years. 

However, it upholds the extension of a financial overseer’s role, appointed by Engoron, to monitor the Trump Organization’s financial affairs.