Former President Donald Trump has expressed his commitment to covering the bond required for appealing the judgment in New York’s civil fraud case, following its recent reduction.
Speaking to reporters on Monday, Trump said, “I greatly respect the decision of the appellate division.”
“And I’ll be [posting] either $175 million in cash or bonds or security or whatever is necessary very quickly, within the ten days. And I thank the appellate division for acting quickly,” he added.
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Former President Trump: “I greatly respect the decision of the appellate division. And I’ll be post either $175 million in cash or bonds or security or whatever is necessary very quickly, within the ten days. And I thank the appellate division for acting quickly.” pic.twitter.com/ReJSn03eyE
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On Monday, the deadline for the ex-president to pay the bond was extended by 10 days by a New York appeals court. The court also reduced the amount to $175 million.
As CNN notes, “It’s a major lifeline for the former president, who, along with his adult sons and his company, were fined more than $464 million, including interest, after Judge Arthur Engoron found Trump and his co-defendants fraudulently inflated the value of his assets.”
“The ruling staves off the prospect, for now, of New York Attorney General Letitia James seeking to seize the former president’s property to enforce the judgment against him. Trump had been struggling to come up with the means to post a bond of more than $500 million, the total that he would have needed before Monday’s appellate decision,” it added.
The media source further clarified that the New York attorney general will not have the opportunity to attempt to enforce the ruling until September at the earliest, along with additional consequences stemming from the ruling.
