Former President Donald Trump won a victory in a New York appeals court on Monday, allowing him to post a lower bond in his civil business fraud judgment. Instead of the originally required $464 million, Trump now only needs to guarantee $175 million. This ruling gives Trump an additional 10 days to post the bond and continue running his business in New York.
The decision came after the deadline for Trump to post the bond had passed, potentially allowing New York Attorney General Letitia James to seize his assets. However, the appeals court ruling prevents James from pursuing this action for now.
Prior to this ruling, Trump's lawyers argued that the original bond amount was a practical impossibility for him to attain, as much of his wealth is tied up in real estate, which bond companies are hesitant to accept as collateral.
The civil charges against Trump were brought by James, alleging that he inflated his net worth and misled investors. Judge Arthur Engoron ruled in favor of James last month, ordering Trump to pay $464 million, including interest. Trump's co-defendants were also ordered to pay $10 million.
Trump is also facing a separate civil case alleging falsifying business records related to an alleged affair with Stormy Daniels. He has criticized these cases as rigged and coordinated by the White House and Department of Justice for election interference.
Despite these legal challenges, Trump remains defiant on social media, claiming he has done nothing wrong and that the cases against him should be dismissed. He has also expressed his intention to use nearly $500 million in cash for his 2024 presidential campaign.
Overall, the appeals court decision to lower Trump's bond amount will allow him to continue his business operations in New York while navigating the ongoing legal battles against him.