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.
The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld.
I’m curious as to how a $175M bond is supposed to guarantee a $454M judgment.
The idea is the real estate isn’t going anywhere. It is technically not what the bond laws say is needed, but then this is a very large amount. This dude is being reamed and the state is not going to let him off the hook.
It would be career suicide in NYC. Most of the city and metro area hate Trump’s guts.
They are letting him off the hook by not making him bond the whole amount.
The amount was high because his fraud was high. Why does committing bigger crimes mean less proportionate punishment?
You have the right idea. Obviously they should have made him pay the full amount. I think they know he literally doesn’t have it.
Remember, the state has a retired judge watching his bank accounts for a while now. They know what he can pay. $175 million in cash is better than them seizing his property quickly because that process is actually very slow.
For everyone who thinks the state should just “take Trump Tower”, do you understand that’s not something they’re good at? They would need to find a buyer. You can’t just get a buyer for such a large building in a few days. They really would prefer cash for at least part of the fine.
The building isn’t going anywhere and this doesn’t affect the judgement.
I’m curious as to how a $175M bond is supposed to guarantee a $454M judgment.
The appeals court lowered it to this amount. This could be a hint that the judge didn’t calculate the original amount correctly. Meidas Touch on YouTube did a video about it. I haven’t seen any good articles which repeat the same idea.
