Your tip
RadarOnlineRadarOnline
BREAKING NEWS

Donald Trump's $454M Civil Fraud Appeal Bond Reduced to $175M Hours Before Deadline

donald trump m appeal bond reduced m
Source: MEGA

A state appeals court lowered Donald Trump’s $454 million civil fraud appeal bond down to only $175 million this week.

Mar. 25 2024, Published 1:04 p.m. ET

Link to FacebookShare to XShare to Email

A state appeals court lowered Donald Trump’s $454 million civil fraud appeal bond down to only $175 million this week, RadarOnline.com can report. The court also gave the ex-president an additional ten days to post the nearly $200 million.

In a sudden and shocking development to come just hours before Trump’s deadline to post the initial $464 million civil fraud appellate bond, the court stated that Trump and his co-defendants now have ten days to post a $175 million bond – a nearly $300 million reduction from the original $464 million judgment that was initially due on Monday.

Article continues below advertisement
donald trump m appeal bond reduced m
Source: MEGA

The court stated that Trump and his co-defendants now have ten days to post a $175 million bond.

The ruling, which was issued by a panel of state appellate division judges who were all appointed by Democratic governors, no doubt came as a major relief for Trump.

Trump’s legal team argued last week that coming up with the initial $464 million bond amount was close to impossible.

Article continues below advertisement

The appeal court’s ruling on Monday temporarily prevents New York Attorney General Letitia James from collecting the massive civil fraud judgment.

“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 10 days,” Trump said following Monday’s ruling, “and I thank the appellate division for acting quickly.”

Article continues below advertisement
donald trump m appeal bond reduced m
Source: MEGA

“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 10 days."

Article continues below advertisement

As RadarOnline.com previously reported, Trump was facing a liability of $454 million prior to Monday’s ruling – a sum that was increasing daily due to added interest.

Trump recently mentioned having cash reserves for his potential 2024 presidential campaign – despite not funding his previous campaigns personally since 2016 – in an attempt to address the financial challenge.

MORE ON:
Donald Trump
Article continues below advertisement

The embattled ex-president also recently hinted at the possibility of mortgaging or selling off his properties at discounted prices – referring to it as a “fire sale” – to cover the initial $464 million appellate bond.

“Nobody has ever heard of anything like this before,” Trump fumed on Truth Social last week. “I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense?”

“WITCH HUNT,” the ex-president added at the time. “ELECTION INTERFERENCE!”

Article continues below advertisement
donald trump m appeal bond reduced m
Source: MEGA

The appeal court’s ruling on Monday temporarily prevents New York Attorney General Letitia James from collecting the massive civil fraud judgment.

Article continues below advertisement

Trump’s lawyer asked the appeals court to step in last Monday after admitting that it was “practically impossible” for Trump to secure a bond to cover the $454 million judgment appeal.

The 45th president’s lawyer claimed that over 30 lenders refused to loan Trump the money needed to post the initial appellate bond – a claim that Eric Trump later corroborated.

Never miss a story — sign up for the RadarOnline.com newsletter to get your daily dose of dope. Daily. Breaking. Celebrity news. All free.

Article continues below advertisement
donald trump m appeal bond reduced m
Source: MEGA

Trump now has until April 4 to post the $175 million civil fraud appellate bond before AG James is allowed to start seizing his assets.

Article continues below advertisement

“Defendants' ongoing diligent efforts have proven that a bond in the judgment's full amount is a practical impossibility,'' the Trump lawyer’s court filing read. “These diligent efforts have included approaching about 30 surety companies through 4 separate brokers.”

Trump now has until April 4 to post the $175 million civil fraud appellate bond before AG James is allowed to start seizing his assets.

Advertisement

DAILY. BREAKING. CELEBRITY NEWS. ALL FREE.

Opt-out of personalized ads

© Copyright 2024 RADAR ONLINE™️. A DIVISION OF MYSTIFY ENTERTAINMENT NETWORK INC. RADAR ONLINE is a registered trademark. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Service, Privacy Policy and Cookies Policy. People may receive compensation for some links to products and services. Offers may be subject to change without notice.