Trump Bond Reduced to $175 Million in N.Y. Fraud Case, Delaying AG Letitia James’s Move to Seize Assets

A New York appeals court on Monday gave former president Donald Trump ten more days to post a $175 million bond in his civil-fraud case. If he pays the reduced amount by the extended deadline, he won’t need to satisfy the original $464 million judgment and will avoid having his assets seized.

Last month, New York supreme court judge Arthur Engoron ordered Trump and his co-defendants, including his two adult sons and two former Trump Organization executives, to pay more than $460 million in damages and interest for fraudulently inflating the value of his business assets.

The appellate ruling temporarily prevents New York attorney general Letitia James from seizing the real-estate mogul’s properties to enforce the judgment, which she previously indicated she would do if he didn’t post a bond by Monday. The collection deadline is now delayed to early next month.

Following the ruling, James said she still expects Trump to face “accountability for his staggering fraud.”

“The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization,” James added. “The $464 million judgment – plus interest – against Donald Trump and the other defendants still stands.”

The new order also allows Trump and his sons, Donald Jr. and Eric, to run their family’s New York businesses and obtain loans from New York banks, both of which were previously banned for the next three years under Engoron’s order. The Manhattan judge’s court-ordered monitor and the appointment of a compliance director for Trump’s company is still in effect, though.

Trump praised the appellate ruling and said he would post the $175 million bond within the next ten days, while also attacking Engoron for the initial judgment.

“What he’s done is such a disservice and should never be allowed to happen. New York state is being battered by his decision,” Trump said. “Judge Engoron is a disgrace to this country.”

While appealing the February decision, Trump has argued that he couldn’t pay the $464 million bond before the Monday deadline. As a result, he asked an appellate court to block enforcement of the civil-fraud judgment.

Trump and the other defendants were found liable on multiple fraud counts, including issuing false financial statements, falsifying business records, and conspiracy.

The decision, which was made without a jury, is the latest development in a years-long case in which the New York attorney general alleged the former president manipulated his net worth and inflated the value of his properties in order to receive lower interest rates. In the ruling, Engoron wrote that Trump and his co-defendants knowingly “submitted blatantly false financial data to the accountants, resulting in fraudulent financial statements.”