New York appeals courts cut Donald Trump a major break after ruling that the former president and his sons Eric and Donald Trump Jr. have 10 days to pay the new bond of $175 million.
“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, and I thank the appellate division for acting quickly,” said Trump.
In February, Engoron ruled that Trump and his sons, Eric and Donald Trump, Jr., must pay $464 million for crimes that include inflating the former president’s net worth. Trump was stated to have used a real estate tactic known as “comparables” to misrepresent the worth of his properties by comparing them to other properties worth considerably more money.
Trump has repeatedly made claims that he has hundreds of millions of dollars in liquid assets. However, he has struggled to come up with the money to pay his bond. According to Trump, much of the cash that he allegedly has is to be used toward his 2024 presidential campaign fund.
If he fails to pay, his assets could be frozen as a way of using his property as collateral. New York Attorney General Letitia James could consider using subpoenas and a seizing of assets. Trump has stated that he could possibly begin selling off his own assets and properties in an attempt to come up with the money.
“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,” said Attorney General Letitia James's office.
Trump is still facing four separate lawsuits for federal election interference, mishandling classified documents, election racketeering and civil fraud.
