In a significant development, a New York appeals court has granted former President Donald Trump an additional 10 days to post his bond in an ongoing civil fraud case. The court also reduced the required bond amount to $175 million, providing a significant reprieve for Trump.
The former president, along with his adult sons and his company, were previously fined over $464 million, inclusive of interest. This came after Judge Arthur Engoron ruled that Trump and his co-defendants had fraudulently inflated the value of his assets.
The recent ruling temporarily halts the potential for New York Attorney General Letitia James to seize Trump’s property to enforce the judgment against him. The former president had been grappling with the challenge of posting a bond exceeding $500 million, the total amount required prior to Monday’s appellate decision.
Trump, in a statement on Truth Social on Monday, committed to “abide by the decision and post either a bond, equivalent securities, or cash” to meet the judgment’s terms. His legal team had previously indicated that he was struggling to secure a bond to cover the full amount, as banks were unwilling to approve a bond exceeding $100 million.
The ruling stipulates that the $175 million bond will remain in effect until at least September. This means that Attorney General James will be unable to enforce the judgment against Trump until that time. The order also stayed the enforcement of several penalties that Judge Engoron had imposed in addition to the fine.
For the time being, Trump and his sons can continue to operate a business in New York and secure loans from New York financial institutions. The order blocked these penalties in the judgment but maintained that the court-ordered monitor and the appointment of a compliance director will remain in place.
This story will be updated as more information becomes available.