Trump Has 10 Days to Pay Lowered Bond

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Facts

  • Former Pres. Donald Trump on Monday had his $464M bond owed to the state of New York in its fraud case against him lowered to $175M in a decision by an appellate court. The decision comes just as a 30-day grace period was set to expire and gives Trump 10 more days to post bond.1
  • Before the ruling by a panel of state Appellate Division judges — all appointed by Democratic governors — Trump was on the hook for a $454M bond plus additional interest of more than $111K per day.2
  • Trump's lawyers argued that posting the full $464M was a "practical impossibility," and 30 bond companies declined to cover the full cost, instead opting to wait for a ruling on his appeal. New York Attorney General Letitia James could have begun seizing Trump's assets had the enforcement period not been delayed.3
  • The presumptive GOP nominee for president was ordered to pay $454M when a judge ruled he misreported his net worth to secure better loan and insurance rates. Trump said he has the cash on hand to pay the $175M within the 10-day period, but he will keep fighting the decision.4
  • The ruling pauses penalties imposed on Trump and his family, including a ban on their ability to run a business in N.Y. and secure loans from N.Y. financial institutions. The bond will be in place until at least September, and James enforce the judgment against Trump until then.5
  • Trump, who maintains his innocence in this case, must file his appeal papers before September's oral arguments. If Trump loses, he will owe the total penalty amount unless it's lowered by a court.6

Sources: 1CBS, 2NBC, 3ABC News, 4FOX News, 5CNN and 6New York Post.

Narratives

  • Pro-Trump narrative, as provided by Daily Caller. Thankfully these developments show that some semblance of justice remains in the US. The $464M bond was an extreme expression of the far-left's weaponization of the courts in the aftermath of the politically motivated judgment. Trump is on his way to defeating the swamp.
  • Anti-Trump narrative, as provided by The Daily Beast. Trump has received an undeserved lifeline, as James must now wait an additional 10 days before she can start seizing Trump's assets. But, this decision doesn't let Trump off the hook and he will still be liable to pay the full $460M-plus when he loses his unreasonable and far-fetched appeal.

Predictions