An appeals court on Monday reduced former President Trump’s bail, saying he must pay $175 million within the next 10 days.
President Trump previously faced a Monday deadline to pay $464 million bail stemming from allegations of civil fraud by New York Attorney General Letitia James.
President Trump vows to fight New York lawsuit ‘all the way to the U.S. Supreme Court’ as $454 million deadline approaches
The New York Court of Appeals drastically reduced that bond hours before the $464 million payment was due. The court ordered President Trump to pay $175 million within 10 days.
President Trump said he would “comply” with the appeal decision and post bail of $175 million.
If President Trump pays the $175 million by the new deadline, it will effectively block James’ attempts to seize his assets as he continues to appeal New York Judge Arthur Engoron’s ruling.
“Judge Engoron refused to abide by the Appellate Division’s decision on the statute of limitations. This is a conflict between the judges and those who rule over them, and it puts New York state and the rule of law in a very bad situation.” Engoron disrespected the Appellate Division and its very clear and precise ruling,” President Trump posted on Truth Social on Monday. “The gag order should be lifted at the same time as they are allowed to do so.”
President Trump said Monday’s appellate court decision was “the fifth time this case has been overturned, which is a record.”
President Trump criticized Judge Arthur Engoron, saying, “His trust and Letitia James’s trust has been shattered.”
“We will post bonds, equivalent securities, or cash in accordance with the Appellate Division’s decision,” Trump said. “This also shows how ridiculous and outrageous Engoron’s initial decision of $450 million was.”
In all caps, President Trump said, “I did nothing wrong. New York should never be in a situation like this again.” Businesses are fleeing, violent crime is rampant, and we need to tackle this problem once and for all.” It is very important that this is resolved.” as soon as possible. thank you!”
Meanwhile, a spokesperson for Mr. James said Monday that Mr. Trump “remains held accountable for his extraordinary misconduct.”
A spokesperson for Mr James said: “The court has previously found that he engaged in a long-standing fraud scheme to unfairly inflate his net worth and enrich himself, his family and his organization.” Ta. “The $464 million plus interest judgment against Donald Trump and other defendants remains in effect.”
Trump, the 2024 Republican presidential candidate, and his legal team had filed an appeal, demanding a halt to the presidential election. $454 million civil fraud judgment. Trump’s lawyers said the initial bond requested was “unprecedented for a private company” and that it would be “practically impossible” to count toward the full amount of the judgment.
President Trump has vowed to fight the case “all the way to the U.S. Supreme Court if necessary.”
Former President Trump speaks to the media after voting at a polling place at the Morton and Barbara Mandel Recreation Center in Palm Beach, Florida on March 19, 2024. (Joe Radle/Getty Images)
In an exclusive interview with Fox News Digital on Friday, President Trump said he could afford to post bail but was working with his defense team to file a full appeal of the sentence.
President Trump has said he has nearly $500 million in cash. Trump Media & Technology Group, the parent company of his company, Truth Social, is scheduled to go public after the merger on Monday. The company trades on the Nasdaq market as “DJT.”
Trump owns more than 78 million shares, worth about $4 billion.
“That doesn’t mean I’m going to give money to a corrupt, incompetent judge, a puppet of a corrupt attorney general who has failed on violent and immigration crimes and whose only purpose in life is to get Trump.” ” Trump said. Fox News Digital mentions Mr. Engoron and Mr. James.
However, his shares are frozen at this point. The company’s board of directors can vote to unfreeze these assets if necessary.
Engoron’s sentence came after a months-long non-jury trial stemming from James’ years-long investigation. When James was campaigning for attorney general, he vowed to “get Trump.”
New York Court of Appeals allows Trumps to continue business, rejects request for delayed payments
“We’re definitely going to sue him. It’s going to really hurt,” James once told supporters in a video.
Attorney General Letitia James arrives for a press conference following the verdict against former President Donald Trump in the civil fraud trial in New York City on February 16, 2024. (Michael M. Santiago/Getty Images)
Engoron accused Trump and the other defendants of “persistent and repeated fraud,” “falsification of business records,” “issuance of false financial statements,” “conspiracy to falsify false financial statements,” “insurance fraud,” The court found them liable for “conspiracy to commit insurance fraud.” . ”
The appeals court overturned Mr. Engoron’s ruling, which allowed Mr. Trump and his sons to continue running the family business while appealing the decision.
Mr. James originally filed a lawsuit accusing Mr. Trump and the Trump Organization of deceptive business practices. The court proceedings were contentious, with Engoron repeatedly defeating Trump. partial gag order This is to prevent him from criticizing court officials.
Throughout the trial, President Trump dismissed the trial as a “witch hunt” and criticized both parties. Engoron and James Serving as a political operative for the Democratic Party. Trump’s lawyers He also repeatedly criticized the lack of jurors in the trial.
Former U.S. President and Republican presidential candidate Donald Trump departs after voting in the Florida primary election at the Morton and Barbara Mandel Recreation Center polling place in Palm Beach, Florida, on March 19, 2024. (left) and former first lady Melania Trump. ((Photo Credit: GIORGIO VIERA/AFP) (Photo Credit: GIORGIO VIERA/AFP, Getty Images))
Trump banned from business, ordered to pay more than $350 million in New York civil fraud case
“A jury trial was never an option,” a spokesperson for President Trump told Fox News Digital. “It is unfortunate that a jury will not be able to hear how absurd the merits of this case are and conclude that no wrongdoing occurred.”
President Trump and his family have denied any wrongdoing, and the former president said his assets were undervalued. Trump’s lawyers argued that there was a disclaimer in his financial statements and made it clear that banks should conduct their own evaluations.
Throughout the trial, Mr. Trump’s lawyers called witnesses, including former Deutsche Bank executives, who testified that the banks viewed Mr. Trump as a “customer whale” and sought additional business from him.
Trump’s defense also brought in expert witnesses, including New York University accounting professor Eli Bartov, who reviewed Trump’s financial statements at issue in the case and found no evidence of accounting fraud. Stated.
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Bartov testified last month that President Trump’s financial statements did not violate accounting principles, suggesting that everything at issue, including the estimated value of his Trump Tower penthouse, which increased significantly from year to year, was simply a mistake. did.
“My main finding is that there is no evidence of any accounting fraud,” Bartov testified. He said there were “no material misstatements” in President Trump’s financial statements.
