Trump bond cut by 68% to $175 million as he appeals NY fine

Mar25,2024



A new york appeals court agreed to cut Donald Trumpbondage in new york fraud case The verdict was cut by more than two-thirds to $175 million while the verdict was being appealed, giving the former president a financial lifeline as the state prepared to seize his assets.
The decision was handed down on Monday as Trump faced a deadline to either pay the $454 million judgment or post a bond for 120% of the judgment while he appeals. This would amount to approximately $545 million dollars, which is more than Trump has on hand. The former President was given 10 days to file the new bond.
The appeals court did not provide any explanation behind its decision.
The billionaire real estate mogul had sought to write off the bonds entirely or post just a small $100 million bailout, claiming he would have to sell loss-making properties to raise cash. The new bond is still more than what Trump said he could arrange, but the former president indicated he is willing to pay it. But the ruling means Trump may be able to pursue his appeal without the risk of having his assets seized by New York Attorney General Letitia James. James had said she was prepared to seize Trump's assets, including skyscrapers and golf courses in Manhattan, to pay the judgment.
The verdict is the latest twist in the case as Trump was found liable for inflating the value of his assets by billions of dollars a year to get better terms on loans from Deutsche Bank AG and other lenders. A major decision was announced in February.



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