Trump's $454M judgment bond slashed by more than half in appeals court ruling

Posted 19 days ago

From WWW.FOXNEWS.COM

An appeals court slashed former President Trump's bond payment on Monday, saying Trump must pay $175 million within the next 10 days.

Trump had previously faced a Monday deadline to pay a $454 million bond payment that came as a result of civil fraud allegations from New York Attorney General Letitia James.

A New York Appeals Court, hours before the deadline to post the $464 million, lowered that bond considerably. The court ordered that Trump post $175 million within 10 days.

Trump said he will "abide" by the appeals decision and post the $175 million bond.

If Trump does post the $175 million by the new deadline, it would effectively block James from attempts to seize Trump's assets as he continues to appeal the judgment by New York Judge Arthur Engoron.

"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," Trump posted on his Truth Social Monday. "He should be made to do so, and at the same time, release the GAG ORDER."

Trump said the appeals ruling Monday is "the 5th time in this case that he has been overturned, a record."

Trump blasted Judge Arthur Engoron, saying "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," Trump said. "This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million."

Trump added, in all capital letters: "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!"

Trump said 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?" he posted.

Trump attorney Christopher Kise, reacting to the ruling, said it "represents a great first step towards the ultimate reversal of a baseless and reckless judgment."

"The First Department no doubt recognized the rule of law must triumph over the political agenda of the Attorney General," Kise said in a statement. "President Trump looks forward to a full and fair appellate process which overturns the judgment and ends the Attorney General's abuse of power and tyrannical pursuit of the front running candidate for President of the United States."

Meanwhile, a spokesperson for James on Monday said Trump "is still facing accountability for his staggering fraud."

"The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization," James' spokesperson said. "The $464 million judgment – plus interest – against Donald Trump and the other defendants still stands."

Trump, the 2024 presumptive GOP presidential nominee, and his legal team had appealed and requested a stay on his $454 million civil fraud judgment. Trump's legal team said the initial requested bond was "unprecedented for a private company," and said to post it in the judgment's full amount was a "practical impossibility."... (Read more)