Court lowers bond in Trump fraud judgment appeal to $175 million

Published 7:15 pm Monday, March 25, 2024

A New York appeals court on Monday agreed to hold off collection of former President Donald Trump’s more than $454 million civil fraud judgment if he puts up $175 million within 10 days.

If Trump does, it will stop the clock on collection and prevent the state from seizing the presumptive Republican presidential nominees assets while he appeals. The appeals court also halted other aspects of a trial judges ruling that had barred Trump and his sons Eric Trump and Donald Trump Jr., the family companys executive vice presidents, from serving in corporate leadership for several years.

In all, the order was a significant victory for the Republican expresident as he defends the real estate empire that vaulted him into public life. The development came just before New York Attorney General Letitia James, a Democrat, was expected to initiate efforts to collect the judgment.

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Trump, who was attending a separate hearing in his criminal hush money case in New York, hailed the ruling and said he would post a bond, securities or cash to cover the $175 million sum in the civil case. Speaking in a courthouse hallway, Trump revisited his oftstated complaints about civil trial Judge Arthur Engoron and the penalty he imposed.

“What he’s done is such a disservice and should never be allowed to happen again,” said Trump, who argues that the fraud case is discouraging business in New York.

James office, meanwhile, noted that the judgment still stands, even if collection is paused.

“Donald Trump is still facing accountability for his staggering fraud, the office said in a statement.

Trump’s lawyers had pleaded for a state appeals court to halt collection, claiming it was “a practical impossibility” to get an underwriter to sign off on a bond for such a large sum, which grows daily because of interest. The Trump attorneys had earlier proposed a $100 million bond, but an appellate judge had said no late last month.

Mondays ruling came from a fivejudge panel in the state’s intermediate appeals court, called the Appellate Division, where Trump is fighting to overturn Engorons Feb. 16 decision. Trump attorneys Alina Habba and Christopher Kise characterized Monday’s ruling as a key first step.