‘Temporary relief’ for Donald Trump as US court cuts bond to $175m, gives new deadline
WASHINGTON – Former American president Donald Trump was supposed to pay bond to cover a $464 million fraud judgment against him or have his assets seized, the court barred authorities in New York from beginning to seize his assets in grace period.
New York state appellate court approved Trump’s plea to extend the deadline for payment and reduce the bond amount while he appeals a ruling.
Instead of immediately paying $454 million, the Republican party leader now has 10 days to cover $175 million bond. The verdict comes after former president was found liable for overstating his net worth to deceive investors and lenders.
Trump’s legal team argued that the original bond amount was exorbitantly high, and he would not be able to cover it within time. On the other hand, NYC Attorney General Letitia James threatened to seize Trump’s assets if he missed the deadline.
Trump, who is facing multiple legal challenges, including civil and criminal cases, accused authorities of politically motivated actions to undermine his re-election campaign.
Donald Trump released after arrest; pleads not guilty of keeping classified documents
