Posted on 03/25/2024 8:41:04 AM PDT by bitt
A New York appeals court paused for 10 days a massive civil fraud judgment against former President Donald Trump.
The court also and sharply reduced the bond he would have to post to obtain a longer stay to $175 million.
Trump’s lawyers in a court filing last week said that it was “impossible” for him to get an appeal bond of $454 million to satisfy the judgment in that amount, having approached more than 30 surety companies without success.
A New York appeals court on Monday paused for 10 days a massive civil fraud judgment against former President Donald Trump, and sharply reduced the bond he would have to post to obtain a longer stay to $175 million.
Trump’s lawyers in a court filing last week said that it was “impossible” for him to get an appeal bond of $454 million to satisfy the judgment in that amount, having approached more than 30 surety companies without success.
None of those companies were willing to write a bond without Trump posting cash or some other liquid asset, the attorneys wrote in their filing with the Manhattan Supreme Court appellate division panel.
Because of the size of the fraud judgment, the companies insisted that Trump show “cash reserves approaching $1 billion,” according to his lawyers. But neither Trump nor the Trump Organization company has that amount of cash on hand, the filing said.
(Excerpt) Read more at cnbc.com ...
bttt
"Trump New York fraud bond cut to $175 million in appeal from $454 million"
FR: Never Accept the Premise of Your Opponent’s Argument
If I understood Eric Trump correctly, he had pointed out on FN that Trump's original 8th Amendment violating (imo) bond was a record-breaking high amount. Is that still the case with reduced amount?
THAT JUDGE NEEDS a GOOD DOSE OF KARMA!! Also needs a GOOD EXORCISM BY HIS RABBI!
Looks like the left blinked first.
Fox News’s Harris Faulkner is covering this story, and she is truly “fair and balanced”, and absolutely NOT a Trump hater!
LeTITia is deeply CORRUPT!
Trump responses just now
https://truthsocial.com/@realDonaldTrump/posts/112157116408288187
https://truthsocial.com/@realDonaldTrump/posts/112157136459344593
LeTITia DIDN’T BRING IT DOWN....the APPEALS COURT DID! SHE IS PURE EVIL!
I’m certain that Obama and Kamala made this happen...to protect Leticia’s big fat ......
For all situations where a federal and/or state attorney general and/or district attorney maneuvers to freeze and/or seize assets within the U.S.A. - the state (never the federal government) legislature shall choose the dollar amount from an established table of ranges of value.
The purpose of this bill:
To severely restrict the lawfare piracy that is the nature of district attorneys and attorneys general who are using government offices as their own private law firms.
Drop it off in pennies and nickels.
LeTITia DIDN’T BRING IT DOWN....the APPEALS COURT DID! SHE IS PURE EVIL!
Eric Trump spoke with all the bonding companies who said the largest bond ever secured was for $25M for the big Boston dig over 25 years. 175M is still not feasible, nor does he feel he should be required.
I understand seizures of his properties would be extremely difficult—requiring years to untangle —with all the parties involved in each property.
And, he may want the publicity.
Praise God. Even though the fine should be zero, at least this is helpful and shows the initial fine was outrageous.
Any explanation of the decrease from the court.That ought to make a good ad.
She didn’t cut it...the Appeals Court Judge did. And there’s a lot more than that. Read post 6
Maybe the Bond companies didn’t trust NYC to give back the money ,LOL
Yes!
This is an important point to make.
Yes....a Certified Check...should do it.
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