BREAKING: Appeals Court Reduces Trump’s Bond To $175 Million, Gives Him Ten More Days To Find Funds

March 25, 2024 BREAKING NEWS

Bloomberg News reports:

A New York appeals court agreed to slash the amount of the bond Donald Trump must post to cover a $454 million civil fraud verdict while he appeals it, reducing it to just $175 million after the real estate mogul claimed he’d have to sell properties at a loss to raise cash.

The ruling Monday comes as Trump faces a deadline on the same day to either pay the fine or post a bond for 120% of the judgment to put it on hold while he appeals. That would have amounted to nearly $545 million dollars. He has 10 days to post the bond, the court ruled.

The New York Times reports:



The ruling by a five-judge panel of appellate court judges is a crucial and unexpected victory for the former president, potentially staving off a looming financial disaster. Had the court denied his request — and had he failed to obtain the full bond — Mr. Trump was at risk of losing control over his bank accounts and, eventually, even some of his marquee properties.

For now, those dire outcomes might be on hold. The bond will prevent the New York attorney general’s office, which brought the fraud case against Mr. Trump, from collecting the judgment while Mr. Trump appeals.

Mr. Trump has 10 days to obtain the bond, and two people with knowledge of his finances said he should be able to secure it by then.

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