'No reason why' appeals court reduced Trump bond to $175m: Sue Craig
MSNBC・7 minutes read
New York Appeals Court reduces Trump's bond to $175 million for the civil fraud judgment, giving him 10 days to pay up. Attorney General James warns that Trump still faces accountability for fraud, with a $454 million judgment against him.
Insights
- Donald Trump has 10 days to pay a $175 million bond to block collection on a civil fraud judgment, with plans to use cash to meet the requirement and avoid associated fees, potentially preventing asset freezes or property seizures.
- Attorney General Letitia James emphasizes that Trump remains accountable for fraud despite the reduced bond, as a $454 million judgment stands against him and other defendants, setting the stage for a potential prolonged legal battle if the bond is not paid.
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Recent questions
How much is the bond amount set for Donald Trump's civil fraud judgment?
The New York Appeals Court has accepted a smaller bond of $175 million for Donald Trump's civil fraud judgment.
What consequences could Donald Trump face if he fails to pay the bond within ten days?
If Donald Trump fails to pay the bond within ten days, Attorney General Letitia James could freeze his assets or seize properties, potentially leading to a lengthy court battle.
What is the status of the $454 million judgment against Donald Trump and other defendants?
Attorney General Letitia James states that Donald Trump still faces accountability for fraud, with the $454 million judgment against him and other defendants standing.
How does Donald Trump plan to meet the bond requirement despite past financial challenges?
Donald Trump claims to have more than enough cash to meet the bond requirement and plans to put it up quickly, potentially paying the bond in cash to avoid fees associated with bonds.
What provision does the ruling allow for Donald Trump and his sons to continue operating their corporation?
The ruling allows Donald Trump and his sons to continue operating their corporation while having an independent compliance officer within the company. Additionally, Trump's new media company, Truth Social, could potentially raise his net worth, but using its shares as collateral is uncertain.
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Summary
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Trump's $175 Million Bond Accepted by Court
- New York Appeals Court accepts a smaller bond of $175 million for Donald Trump's civil fraud judgment, giving him 10 days to put it up to block collection.
- Trump claims to have more than enough cash to meet the bond requirement and plans to put it up quickly.
- Attorney General Letitia James states that Trump still faces accountability for fraud, with the $454 million judgment against him and other defendants standing.
- If Trump fails to pay the bond within ten days, James could freeze his assets or seize properties, leading to a potential lengthy court battle.
- Trump's previous bond payment in another case was $91 million, but he may pay the current bond in cash to avoid fees associated with bonds.
- Trump's exact cash position is unknown, but he sounds confident about meeting the bond requirement despite past financial challenges.
- The ruling allows Trump and his sons to continue operating their corporation while having an independent compliance officer within the company. Trump's new media company, Truth Social, could potentially raise his net worth, but using its shares as collateral is uncertain.
