On Monday, Donald Trump agreed to post a bond of $175 million after the appeals court handed him a 68 percent victory in the New York civil fraud case. The court cut the original bond amount from $464 million to $175 million after Trump’s lawyers said he could not raise the original amount. The court also gave Trump 10 days to post the bond.
A panel of state Appellate Division judges gave Donald Trump a last-minute ruling in his favor. The major victory and relief is a reprieve for the former president as Attorney General Letitia James’ office cannot collect on the judgment as yet.
The court also upheld the judgment barring Trump from serving as a public officer in a company. It kept prohibitions on Donald Trump Jr., Eric Trump, Jeffrey McConney, and Allen Weisselberg.
The court did not grant Trump’s request to prohibit the independent monitoring or installation of an independent director of compliance.
Trump said in front of cameras, “I greatly respect the decision of the appellate division, and I’ll post the $175 million in cash or bonds or security or whatever is necessary very quickly within the ten days, and I thank the appellate division for acting quickly.”
Earlier Friday, Donald Trump said he had almost $500 million in cash. Last week, he also spoke of a potential mortgage or sale of properties at “Fire Sales prices.” However, his lawyers had argued that the large bond amount of $464 million was a “practical impossibility.”
Donald Trump is also looking at a windfall on Tuesday as the new company formed by the merger of SPAC DWAC with Trump’s parent media company TMTG, owner of the app Truth Social, will reportedly start trading on Tuesday. The new company’s board might allow him to sell shares earlier than the six-month prohibition period during which company shareholders are not allowed to sell their shares.
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