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Saturday, May 25, 2024
Criminal JusticeGov & Politics

Trump Demands NY Court give him a lower bond after it was already drastically reduced

Complaining about a lower bond is just a sign of the Trump family privilege.

Donald Trump gets bailed out and received a lifeline from a New York appeals court, but his son Eric Trump still complains about the lowered bond.

With Donald J. Trump on the clock to secure a nearly half-billion-dollar bond in his civil fraud case, a New York appeals court appears to have handed the former president a lifeline on Monday, saying it would accept a far smaller bond of $175 million.

The ruling by a five-judge panel of appellate court judges was 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 risked of losing control over his bank accounts and, eventually, even some of his marquee properties.

For now, those dire outcomes might be on hold. If Mr. Trump obtains the smaller bond, it would prevent the New York attorney general’s office, which brought the case accusing him of fraudulently inflating his net worth, from collecting while Mr. Trump appeals the $454 million judgment imposed by a trial judge. The appeal could take months or longer to resolve.

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

In a statement, Mr. Trump said he would “abide by the decision” and post either a bond from an outside company or put up the money himself. He added that the appellate court’s decision to reduce the bond “shows how ridiculous and outrageous” the $454 million judgment is.

Read more from The New York Times.

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