Donald Trump has posted a $175 million bond in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals.

Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing.

A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement.

The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.

If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.

  • IamtheMorgz@lemmy.world
    6·
    7 months ago

    Idk why you’re being down voted. I just watched a Legal Eagle video that pretty much described the change as being exactly related to this. If the appeal fails, he still owes the original judgement amount and if he doesn’t come up with the money they will seize some property. If the appeal works out for the orange man then they don’t have to try to undo a sale.

    Appeals courts are good things. And everyone, including that a-hole, is entitled to appeal.

    Now, it’s super annoying he can brag about having the money in public but argue in court he doesn’t, but hey, that’s our former president. Talks only out of his ass and never suffers any consequences from it.

    With any luck the appeal will fail miserably and he’ll still be on the hook for the full amount.