Trump Says He’ll Pay Civil Fraud Bond After It’s Reduced to $175 Million
The former president has ten days to put up the money or risk having his properties seized.
President Trump has won relief, at least temporarily, from a New York judge who ruled Monday that the former president has ten days to put up a $175 million bond for his civil fraud judgment. Mr. Trump was previously ordered to pay more than $450 million by today or risk losing parts of his real estate empire.
“Businesses are fleeing, and crime is flourishing all over the state,” Mr. Trump told reporters as he left the courtroom shortly after the judge granted him his reprieve. “I greatly respect the decision by the appellate division, and I’ll post either $175 million in cash or bonds or security very quickly, within the ten days.”
“This is all about election interference,” the former president later said at a press conference.
Mr. Trump is still appealing his case to higher state courts and has denied all wrongdoing.
New York’s attorney general, Letitia James, was on track to begin the process of seizing some of Mr. Trump’s properties on Monday before the New York appellate court reduced Mr. Trump’s bond and gave him a ten-day grace period.
The properties that she has the ability to seize and then sell for the benefit of the state include Mr. Trump’s Westchester County golf course and the famous Manhattan tower that bears his name.
In a statement released after the ruling, Ms. James’ office said Mr. Trump is still on the hook for the original penalty, which totaled more than $454 million and continues to grow by more than $100,000 a day due to interest.
“Donald Trump is still facing accountability for his staggering fraud,” the office said. “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.”
Mr. Trump has promised to appeal Judge Arthur Engoron’s judgment that the former president engaged in fraud “all the way to the U.S. Supreme Court” if necessary.
Mr. Trump faced another legal hurdle on Monday for a criminal matter — the alleged hush-money payment sent to porn star Stormy Daniels, whose real name is Stephanie Clifford, in 2016.
On Monday, Judge Juan Merchan scheduled the criminal trial to begin on April 15 after the original March 25 start date was delayed following the release of documents from federal prosecutors. The district attorney’s office agreed to have the trial delayed while Mr. Trump’s attorneys review the more than 10,000 pages of documents related to the hush money investigation and the prosecution of his former lawyer, Michael Cohen.