Trump gets lower bond amount, loses bid to postpone Hush-Money trial | national news

Former President Donald Trump will have more time to pay less money in the civil fraud judgment filed against him.

A New York appeals court ruled Monday that Trump can have 10 days to post $175 million in bail, less than half of the roughly $464 million he must pay in financial penalties and interest. the same day the decision was rendered.

But even as the former president avoided a potentially ruinous financial judgment, he lost an attempt in another courtroom to further delay a case against him over alleged hush money payments to a porn actress. That case will begin April 15, forcing the presumptive GOP presidential nominee to pursue a criminal case as he runs for president.

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Trump, complaining he did nothing wrong and claiming he had $500 million in cash while his lawyers said he couldn't get anyone to guarantee bail, faced Monday to a delay that could have led New York's attorney general to begin the foreclosure process. its advantages.

Team Trump had asked the court to overturn an earlier ruling ordering him to post bail for the full judgment against him, plus interest compounded daily while he appeals the outcome of the financial fraud case brought by the state Attorney General Letitia James. While Trump has repeatedly bragged about his wealth, his lawyers said he could not convince a bank or bond company to help with an amount totaling about half a billion dollars, underwriters did not not accepting real estate as collateral.

In what amounts to a significant victory for the former president, a five-judge appeals court panel gave Trump 10 days to come up with $175 million, an amount that is certainly easier, if not certain, to raise for Trump.

Trump, who appeared in a New York court Monday in connection with the separate hush money case, said in a statement that he would “respect the decision” and post bond, securities or money for the $175 million.

James' office rejected the decision, saying Trump's day of reckoning was approaching.

“Donald Trump continues to be held accountable for his staggering fraud. The court has already ruled that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family and his organization. The ruling of $464 million plus interest against Donald Trump and other defendants still stands,” the attorney general's office said in a statement.

The case of silence dates back to Trump's presidential campaign in 2016. The former president is accused of having included $130,000 in his company's books as legal fees, when this sum would have been paid to the porn actress Stormy Daniels to cover up her allegations of extramarital sex with Trump. Trump wanted to keep voters from knowing about the relationship, prosecutors say.

The Trump team sought to further delay the trial that at one point was scheduled to begin Monday, arguing that it needed time to review documents it had recently received from federal prosecutors. The former president has also followed such a strategy in other cases he faces, seeking to push the litigation beyond Election Day in November.

But the trial judge, Juan M. Merchan, found nothing wrong with the late disclosure and ordered that jury selection begin as scheduled. See you all on the 15th, Merchan said as he closed the hearing.

Trump, speaking to reporters after the ruling, called it election interference, claiming, without evidence, that the affair was being carried out by President Joe Biden and his thugs.

The two rulings in New York came after a tense weekend for Trump, who was under pressure to provide money in the fraud case or face the possibility of having bank accounts and assets seized, potentially financially devastating for a man who presented himself as a business. genius when he ran for president in 2016.

The damage to Trump could have been twofold: Not only could he have lost some of his most valuable real estate, but the properties could have been sold at what Trump called “fire sale” prices due to its vulnerable position.

Eric Trump, the former president's son, said Sunday that no one would give his father such a massive bond.

“Every single person when I came to them and said, Hey, can I get a half-billion dollar bond? Maria, they were laughing. They were laughing,” he told Fox News' Maria Bartiromo.

This confirms what Trump's lawyers had argued before the appeals panel, that they had approached about 30 bond underwriters and had been rejected. Trump claimed in a social media post on Friday that he actually had nearly $500 million in cash, most of which he intended to use for his presidential campaign. He accused prosecutors and the judge of trying to deprive him of the money he needed to run his campaign, which already lags far behind Biden's in fundraising.

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