An appeals court panel said Monday that former president Donald Trump would be allowed to post a $175 million bond to stave off enforcement of a nearly half-billion dollar civil judgement against him and his business.
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The order on Monday morning was a significant win for Trump, who was otherwise facing a massive cash crunch and the prospect of New York Attorney General Letitia James seizing some of his assets as soon as this week.
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The appeals panel gave Trump 10 days to come up with the reduced bond of $175 million.
James, who brought the civil lawsuit against Trump and his company, said Trump misstated the value of his properties and other assets by up to $2.2 billion a year from 2011 to 2021. A judge in February ordered that Trump pay more than $450 million as a penalty. Trump’s attorneys have suggested that he would struggle to finance a bond of that size, saying they had tried and failed to get more than two dozen companies to help secure the bond.
Cut through the 2024 election noise. Get The Campaign Moment newsletter.
The order on Monday morning was a significant win for Trump, who was otherwise facing a massive cash crunch and the prospect of New York Attorney General Letitia James seizing some of his assets as soon as this week.
Follow Election 2024
The appeals panel gave Trump 10 days to come up with the reduced bond of $175 million.
James, who brought the civil lawsuit against Trump and his company, said Trump misstated the value of his properties and other assets by up to $2.2 billion a year from 2011 to 2021. A judge in February ordered that Trump pay more than $450 million as a penalty. Trump’s attorneys have suggested that he would struggle to finance a bond of that size, saying they had tried and failed to get more than two dozen companies to help secure the bond.