Published March 25, 2024
Monday was supposed to be a celebration day for the anti-Trump/liberal forces where they could revel in former President Donald Trump having his properties seized because they were asking him to pony up a ridiculously unfair bond in his civil fraud case in New York so that he could appeal the judgment.
But the day didn’t go as the anti-Trump forces might have liked.
As we reported, former President Donald Trump scored some major breathing room as a NY appellate court reduced the requisite appeal bond to $175 million and extended the deadline for paying it by 10 days. I would noted that’s still a high and unfair amount given the nature of the case, but certainly a more achievable number to make.
This decision also may be a sign that the penalty is going to get reduced on appeal, if Trump doesn’t win the appeal outright. I’ve felt since the decision it would be reduced because it’s so unhinged from reality.
Then on top of that, Trump’s net worth skyrocketed to about $6.5 billion, and according to Bloomberg making him one of the 500 wealthiest people in the world, with a merger between Trump’s social media company, Trump Media & Technology Group, and a shell company, Digital World Acquisition Corp.
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SOURCE: www.redstate.com
RELATED: Letitia James Fires Back After Donald Trump’s Bond Reduction
Published March 25, 2024
After an appeals court ruled on Monday that Donald Trump could proceed with a much lower amount than the $454 million penalty against him in his civil fraud case, New York Attorney General Letitia James fired back at the former president.
“Donald Trump is still facing accountability for his staggering fraud. The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization. The $464 million judgment – plus interest – against Donald Trump and the other defendants still stands,” James said in a statement.
Context:
Last month, Judge Arthur Engoron ruled in favor of James’ lawsuit against Trump, his sons, Eric Trumpand Donald Trump Jr., and The Trump Organization over allegations that the former president inflated the value of his properties and his own net worth by billions of dollars on financial statements provided to banks and insurers to make deals and secure loans. The former president, who maintains his innocence, was ordered to pay over $400 million in penalties and has been barred from conducting business in New York for three years.
In an effort to pursue an appeal, the former president was seeking a bond of $464 million to cover his fines and the disgorgement for his sons. Although Trump can appeal the ruling against him without a bond or paying the cash, the former president would be required to post a bond of slightly more than the amount of the penalty against him to stop the collection of his assets.
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SOURCE: www.newsweek.com
RELATED: Donald Trump’s bond reduced to $175mn in civil fraud case
New York appeals court gives former US president a reprieve even as he faces start of first criminal trial on April 15
Published March 25, 2024
A New York appeals court has allowed Donald Trump to post just $175mn to delay enforcement of a $464mn fraud judgment, in a victory for the former US president who had claimed it would be “impossible” to obtain a bond for the full amount.
The ruling came as a 30-day grace period granted to Trump by Letitia James, the New York attorney-general, who brought the fraud case, was set to expire, paving the way for her office to seize Trump’s cash and properties across the US.
In an order on Monday morning, a panel of five justices at the appeals court gave Trump 10 days to find the new sum. They also agreed to delay the enforcement of non-monetary penalties imposed as part of the judgment, such as the barring of Trump and his elder sons from running a business in New York and applying for loans in the state.
But they ruled that a monitor would remain in place at the Trump Organization in the interim, as would an “independent director of compliance”.
Trump was at a separate court across the road when the order was published, attending a hearing over whether to further delay his criminal trial over the alleged cover-up of “hush money” payments to an adult film star. The judge declined to do so, setting jury selection to begin on April 15 in what will be the first criminal trial against a former US president.
