A New York Appeals court handed Trump at least a half-victory on Monday just hours before the deadline by which the former president and presumptive 2024 nominee needed to post a $454 million bond.
In a somewhat surprising ruling, the judge slashed the bond amount to a still-staggering $175 million and extended the deadline for Trump to come up with the money and post the bond by ten days.
🚨🚨New York appellate court lowers Donald Trump bond to $175 MILLION, ruling Trump must pay $175 million bond within 10 days.🚨🚨
— Dagen McDowell (@dagenmcdowell) March 25, 2024
In reaction posted to Truth Social, Trump criticized Judge Engoron for his multiple rulings which were overturned by the appellate division saying "[t]his is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered," Trump added in the post.
"We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash," Trump said of the reduced $175 million bond. "This also shows how ridiculous and outrageous Engoron's original decision was at $450 million," Trump added.
Trump had previously said that coming up with the unprecedented $454 million bond would be impossible, an argument the judge seemingly admitted was a fair point by reducing the bond by $279 million. As Katie reported earlier on Monday:
Trump Organization Executive Vice President Eric Trump gave an update Sunday about the bond amount being "impossible" to obtain, despite decades of the business not only repaying loans on time, but making banks money.
"A half a billion dollar bond is simply not commercially available. The 30 largest bonding companies in the United States have never seen a bond close to this size for anyone, let alone a private company. Letitia James is hellbent on a political vendetta against my father with zero regard for the lives of thousands of hard-working New Yorkers, who make their living in our buildings," Eric Trump posted on X.
Trump is required to post the bond before he's able to appeal the result of New York Attorney General Letitia James' case against the former president. From the time she announced her campaign to be the Empire State's top law enforcement officer, James said her candidacy and career was dedicated to going after Trump. With Monday's ruling, James' efforts — which included the prospect of seizing Trump's properties to make the bond — hit at least something of a hurdle.
This is a developing story and may be updated.
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