Politics
Trump now only needs $175 million for bonds
Photo: ANGELA WEISS/AFP via Getty Images
As Monday's deadline approached for Donald Trump to post a colossal $454 million bond, a New York appeals court gave him some very good news: a panel of five judges from the Division of he New York Supreme Court appeal ruled that Trump would only need to post $175 million bail. A $1 million bond to stay enforcement of his civil judgment for business fraud while he appeals the verdict. The court also gave Trump ten more days to secure bail, meaning New York Attorney General Letitia James will not be able to seize his assets on Monday, when the deadline was set to expire.
It was once again a close game for the former president in a season that was defined both by his legal risks and a series of timely breaks in his favor. On Monday morning, his lawyers argued that he had failed to find a company to allow him to appeal the $454 million judgment, even though Trump claimed Friday that he had half a billion in species. If Trump manages to post that $175 million bond next week, it will prevent Letitia James from seizing her assets during the appeal process, which could take several months. I greatly respect this decision, Trump said Monday. We will respect the decision of the Appellate Division and post either a bond, equivalent securities or cash.
With banks and bond companies refusing to take Trump's assets as collateral, a $175 million bond is far more feasible than $454 million. Earlier this month, Trump was granted $91 million bail to appeal the judgment in the E. Jean Carroll defamation case. If he doesn't have the cash to secure a $454 million bond, he may be able to handle less than half that, although that would still eat into his cash flow over the course of a year of fees unfathomable legalities.
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