Trump Wins Stay of New York Fraud Judgment, Reduced Bond

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The court blocked collection of the former president’s fraud judgment, and ruled he has 10 days to post a drastically reduced $175 million bond

Donald Trump was supposed to have to post a $464 million bond by Monday or else the state of New York could begin collecting on the massive civil fraud judgment leveled against him earlier this year. An appeals court bailed him out, blocking collection of the judgment and giving the former president 10 days to post a drastically reduced $175 million bond.

The order is a huge win for Trump, whose assets were going to be subject to seizure if he couldn’t post nearly half-a-billion dollars by Monday. His lawyers said last week he wasn’t going to be able to come up with the money after 30 underwriters rejected him. The New York Times has reported that Trump is expected to be able to scrounge the new, reduced $175 million bond.

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Trump has been ranting incessantly about the case. He’s spent the last week-plus posting a torrent of all-caps tirades on Truth Social about how everyone involved is corrupt and that he did nothing wrong. He even shared a message he says was sent to him Monday morning comparing his plight to the persecution of Jesus Christ.

Trump celebrated the news from New York, where he was attending a hearing for his criminal hush-money trial. “New York State is being battered by his decision so I greatly respect the decision of the appellate division and I’ll post either $175 million in cash or bonds or security or whatever is necessary very quickly within the 10 days,” he said after the ruling was handed down, adding that “Judge Engoron is a disgrace to this country and this should not be allowed to happen.”





Source link: https://www.rollingstone.com/politics/politics-news/trump-wins-stay-new-york-fraud-judgment-reduced-bond-1234993811/

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