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NY Court grants Trump extension to post bond; lowers amount
Trump said he will abide by the appellate court ruling and post a bond for the lowered amount
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Donald Trump / Instagram - @realdonaldtrump
A New York state appeals court ruled in favor of Donald Trump in the civil fraud case that required him to post a $464 million bond by Monday Mar. 25 or risk losing his assets.
The court lowered the bond amount to $175 million and gave Trump an extension of ten days to post it. This comes after the former president’s attorneys claimed that it would be practically “impossible” to secure a full appeals bond due to lack of cash on hand.
However, Trump in a Truth Social post recently wrote that he has nearly $500 million in cash which he intends to use for his presidential campaign.
Welcoming the recent judgement, Trump wrote, “We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million.”
“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!,” his post further read.
The Monday ruling also put a stay on the part of the original judgment that barred Trump from serving as a public officer of a company and obtaining loan from a NY bank as well as the prohibitions placed on Weisselberg, McConney, Donald Trump Jr. And Eric Trump. However, it did not rule on the surveillance of the family businesses by a court- appointed independent monitor.
The original judgement was delivered by New York Supreme Court Justice Arthur Engoron who found that the former president and his company guilty of falsely stating the value of his assets from 2011 to 2021. The lawsuit was brought about by New York Attorney General Letitia James.
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