SUBSCRIBE TO OUR FREE NEWSLETTER
Daily news & progressive opinion—funded by the people, not the corporations—delivered straight to your inbox.
5
#000000
#FFFFFF
5
#000000
#FFFFFF
Former U.S. President Donald Trump sits at the defense table with his lawyers in a Manhattan court during his arraignment on April 4, 2023, in New York City.
(Photo: Seth Wenig/pool/Getty Images)
NY Appeals Court Delivers Reprieve for Trump on $454 Million Bond
"They sure let him twist in the wind until the last moment," said one legal expert.
Mar 25, 2024
As the deadline arrived Monday for Donald Trump to pay a $454 million bond following a New York judge's ruling that the former Republican president and his company committed fraud, an appeals court in the state ruled that Trump would be permitted to post a vastly reduced amount.
The appeals court panel said the presumptive 2024 GOP presidential nominee could pay $175 million after the former president indicated he was unable to pay the full amount, having sought the bond from more than two dozen surety companies.
New York Attorney General Letitia James indicated earlier this month that she could begin seizing Trump's assets as soon as Monday if he was unable to pay the $454 million judgment.
Trump was hit with the fine as the result of James' civil fraud case against the former president and his real estate company, the Trump Organization. Judge Arthur Engoron found Trump and the firm had committed "repeated and persistent fraud," including by falsifying financial statements by as much as $2.2 billion.
The former president is appealing the ruling and had looked for companies to guarantee the full amount of the bond in the event that he lost the appeal, but with much of his fortune tied up in his properties, he was unable to come up with the collateral demanded by the institutions.
Trump said Monday that he plans to "post either a bond, equivalent securities, or cash" within the 10 days granted by the appeals court in order to delay enforcement of the full fine.
Former U.S. Attorney Harry Litman, now a senior legal affairs columnist for the Los Angeles Times, said the "pro-business" appellate court's decision was not surprising and was "reasonable," considering that "a bond is designed to secure eventual payment, not to financially wreck the defendant."
"In a sense the decision reducing Trump's bond and giving him more time is consistent with the 'treat Trump like any other litigant' credo," said Litman, "but they sure let him twist in the wind until the last moment."
James' office responded to the appeals court's decision by focusing on the fact that the full judgment against Trump, his sons Eric Trump and Donald Trump Jr., and former executive Allen Weisselberg still stands.
"Donald Trump is still facing accountability for his staggering fraud," said a spokesperson for James. "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."
We are at a crossroads
This country and this world are at a monumental crossroads. US voters have an opportunity to beat back the forces of fascism and confront the billionaires who are rigging the economy, our media system, and our democracy, making it increasingly impossible for ordinary people to get by. We’re not just talking about the election. We’re talking about what must be done once these fascist elements are vanquished from power. We need a bolder set of solutions than what either major party has so far been willing to offer and a working-class movement ready to fight like hell for it. Trump didn't emerge from nowhere. The conditions that fueled MAGA authoritarianism were created by decades of radical neoliberal economic policies and a corrupt political system dominated by corporate interests. They slashed taxes on the super-rich, promising that the benefits would trickle down. They said giveaways to the corporate titans would make life more affordable for the rest of us. It was all bullshit. And when a bitter, betrayed populace searches for someone to blame, right-wing demagogues have little trouble finding scapegoats. People know when they're being lied to, but you won't hear any of this from the corporate media. Only independent journalism—powered and funded by people who believe in building a better world—can deliver truly trustworthy daily news. If you share our vision, please contribute whatever you can to sustain our work. |
Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.
As the deadline arrived Monday for Donald Trump to pay a $454 million bond following a New York judge's ruling that the former Republican president and his company committed fraud, an appeals court in the state ruled that Trump would be permitted to post a vastly reduced amount.
The appeals court panel said the presumptive 2024 GOP presidential nominee could pay $175 million after the former president indicated he was unable to pay the full amount, having sought the bond from more than two dozen surety companies.
New York Attorney General Letitia James indicated earlier this month that she could begin seizing Trump's assets as soon as Monday if he was unable to pay the $454 million judgment.
Trump was hit with the fine as the result of James' civil fraud case against the former president and his real estate company, the Trump Organization. Judge Arthur Engoron found Trump and the firm had committed "repeated and persistent fraud," including by falsifying financial statements by as much as $2.2 billion.
The former president is appealing the ruling and had looked for companies to guarantee the full amount of the bond in the event that he lost the appeal, but with much of his fortune tied up in his properties, he was unable to come up with the collateral demanded by the institutions.
Trump said Monday that he plans to "post either a bond, equivalent securities, or cash" within the 10 days granted by the appeals court in order to delay enforcement of the full fine.
Former U.S. Attorney Harry Litman, now a senior legal affairs columnist for the Los Angeles Times, said the "pro-business" appellate court's decision was not surprising and was "reasonable," considering that "a bond is designed to secure eventual payment, not to financially wreck the defendant."
"In a sense the decision reducing Trump's bond and giving him more time is consistent with the 'treat Trump like any other litigant' credo," said Litman, "but they sure let him twist in the wind until the last moment."
James' office responded to the appeals court's decision by focusing on the fact that the full judgment against Trump, his sons Eric Trump and Donald Trump Jr., and former executive Allen Weisselberg still stands.
"Donald Trump is still facing accountability for his staggering fraud," said a spokesperson for James. "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."
From Your Site Articles
- Trump Fraud Case Finding Suggests 'Major Tax Evasion': Watchdog ›
- $3 Billion From Truth Social Merger Unlikely to Fix Trump's Money Trouble ›
- Major Asset Seizure Likely as Trump Can't Afford Bond for NY Fraud Case ›
Related Articles Around the Web
As the deadline arrived Monday for Donald Trump to pay a $454 million bond following a New York judge's ruling that the former Republican president and his company committed fraud, an appeals court in the state ruled that Trump would be permitted to post a vastly reduced amount.
The appeals court panel said the presumptive 2024 GOP presidential nominee could pay $175 million after the former president indicated he was unable to pay the full amount, having sought the bond from more than two dozen surety companies.
New York Attorney General Letitia James indicated earlier this month that she could begin seizing Trump's assets as soon as Monday if he was unable to pay the $454 million judgment.
Trump was hit with the fine as the result of James' civil fraud case against the former president and his real estate company, the Trump Organization. Judge Arthur Engoron found Trump and the firm had committed "repeated and persistent fraud," including by falsifying financial statements by as much as $2.2 billion.
The former president is appealing the ruling and had looked for companies to guarantee the full amount of the bond in the event that he lost the appeal, but with much of his fortune tied up in his properties, he was unable to come up with the collateral demanded by the institutions.
Trump said Monday that he plans to "post either a bond, equivalent securities, or cash" within the 10 days granted by the appeals court in order to delay enforcement of the full fine.
Former U.S. Attorney Harry Litman, now a senior legal affairs columnist for the Los Angeles Times, said the "pro-business" appellate court's decision was not surprising and was "reasonable," considering that "a bond is designed to secure eventual payment, not to financially wreck the defendant."
"In a sense the decision reducing Trump's bond and giving him more time is consistent with the 'treat Trump like any other litigant' credo," said Litman, "but they sure let him twist in the wind until the last moment."
James' office responded to the appeals court's decision by focusing on the fact that the full judgment against Trump, his sons Eric Trump and Donald Trump Jr., and former executive Allen Weisselberg still stands.
"Donald Trump is still facing accountability for his staggering fraud," said a spokesperson for James. "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."
From Your Site Articles
- Trump Fraud Case Finding Suggests 'Major Tax Evasion': Watchdog ›
- $3 Billion From Truth Social Merger Unlikely to Fix Trump's Money Trouble ›
- Major Asset Seizure Likely as Trump Can't Afford Bond for NY Fraud Case ›
Related Articles Around the Web
We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.
To inform. To inspire. To ignite change for the common good.
News & Opinion
Trending
Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit
Privacy Policy