Former president now has 10 days to come up with $175 million.
By | Mar 25, 2024 | Articles, Law @ Liberty Nation News
Monday, March 25 was the deadline for former President Donald Trump to fork over the massive $454 million judgment bond so that he could file an appeal against the decision in his civil fraud case. Instead, an appeals court in New York has slashed the bond to $175 million, which Trump must pay within 10 days.
The ruling is a blow to New York Attorney General Letitia James, who was geared up to begin seizing Trump’s assets. If Trump puts up the $175 million before the 10-day deadline passes, James will be unable to go after Trump’s New York assets until the appeal is resolved.
Several additional penalties imposed by Judge Arthur Engoron have also now been placed on hold. Shortly after the appeals court decision, Trump signaled that he will abide by the ruling and “post either a bond, equivalent securities, or cash.”
In remarks to the media shortly after the ruling, Trump claimed the legal moves against him were all about election interference run by “Biden and his thugs.”
Judges reduces Trump’s Bond by $300 Million – READ IN FULL
Five appeals court judges agreed to reduce the amount former President Donald Trump would have to post to appeal a civil conviction in New York, from over $464 million to $175 million. They also nixed most other restrictions the Democrat Attorney General Letitia James wanted, including barring his sons from being corporate officers in the state, or applying for loans there.
Liberty Nation believes you should have all the facts without the spin. As such, we republish the ruling here in full.
From the New York Supreme Court Appellate Division
Appeals having been taken to this Court from an order of the Supreme Court, New York County, entered on or about February 16, 2024 (Case No. 2024-01134), and from a judgment of the same Court and Justice entered on or about February 23, 2024 (Case No. 2024-1135),
And defendants-appellants having moved, pursuant to CPLR 5519 (c), to stay enforcement of the aforesaid order and ensuing judgment, pending hearing and determination of the appeals taken therefrom,
Now, upon reading and filing the papers with respect to the motion, and due deliberation having been had thereon,
It is ordered that the motion is granted to the extent of staying enforcement of those portions of the Judgment
- ) ordering disgorgement to the Attorney General of $464,576,230.62, conditioned on defendants-appellants posting, within ten (10) days of the date of this order, an undertaking in the amount of $175 million dollars;
- ) permanently barring defendants Weisselberg and McConney from serving in the financial control function of any New York corporation or similar business entity;
- ) barring defendants Donald J. Trump, Weisselberg and McConney from serving as an officer or director of any New York corporation for three years;
- ) barring defendant Donald J. Trump and the corporate defendants from applying for loans from New York financial institutions for three years; and
- ) barring defendants Donald Trump, Jr. and Eric Trump from serving as an officer or director of any New York corporation in New York for two years. The aforesaid stay is conditioned on defendants-appellants perfecting the appeals for the September 2024 Term of this Court. The motion is otherwise denied, including to the extent it seeks a stay of enforcement of portions of the judgment
- ) extending and enhancing the role of the Monitor and
- ) directing the installation of an Independent Director of Compliance.
ENTERED: March 25, 2024
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