A New York appeals court ruled that former President Donald Trump does not have to come up with $464 million to appeal the judgment against him in his civil fraud trial, and must only provide a bond in the amount of $175 million. The court stayed much of the judgment of the lower court, which had ordered Trump and his co-defendants to pay a financial penalty of nearly $465 million, including daily interest, as a way to claw back the amount they benefited from the scheme. The appeals court also lifted certain bars imposed on Trump and his associates, such as restrictions on applying for loans and serving in financial control positions at New York businesses.
Under the appellate ruling, Trump now has 10 days to come up with the $175 million bond. The appeals court also kept in place the lower court’s order for an independent monitor to oversee the Trump Organization and the installation of a compliance director. The office of the New York attorney general responded to the ruling by stating that Trump is still facing accountability for his fraud, as the judgment against him and the other defendants still stands. Trump accepted the appeals court’s ruling and stated that he will abide by it, while also criticizing Attorney General Letitia James and Judge Arthur Engoron, claiming their credibility has been shattered.
If Trump produces the bond within 10 days, he will have months to prepare for the appeals case, as arguments will not take place until at least after the appeals court’s fall term begins in September. Trump must now perfect his appeal, which involves making all necessary preparations and getting the case onto the court’s calendar. The appeals court’s decision marks a significant development in Trump’s legal battle, as he seeks to overturn the judgment against him in the civil fraud trial. Despite the reduced bond amount, Trump still faces significant financial liability and restrictions as a result of the court’s ruling.
Overall, the appeals court’s ruling represents a mixed outcome for Trump, as he no longer has to come up with $464 million to appeal the judgment, but still must provide a substantial bond of $175 million. The court also maintained certain restrictions on Trump and his associates, such as the appointment of an independent monitor and compliance director for the Trump Organization. Trump’s response to the ruling, in which he accepted the decision while criticizing the attorney general and judge, reflects his ongoing dispute with the legal system and efforts to defend himself against allegations of fraud. The coming months will be crucial for Trump as he prepares for the appeals case and seeks to overturn the judgment against him in the civil fraud trial.
