Former US Prez Donald Trump Gets Relief In Civil Fraud Case As New York Court Lowers $454 Million Bond
A New York court lowered the bond amount to be paid by Donald Trump in a civil fraud case and also gave 10 days to repay the amount.
Former US President Donald Trump received a huge relief on Monday in a civil fraud case after an appeals court slashed the repayment of a $454 million bond to just $175 million and also gave 10 more days to make the payment, reported news agency AFP. The lawyers representing the Republican presidential candidate argued that it would be "impossible" to secure a bond for the full amount.
Trump was facing a Monday deadline to pay the huge original bond pending an appeal against a judge's decision that he is liable for fraudulently conspiring to inflate his net worth. But he made clear that he was unable to pay the full amount of the bond as he risked seeing New York state confiscate parts of his property empire in response.
But after winning the appeal if he posts the bond within time, his assets will be protected while he continues to appeal.
Taking to his Truth Social app, Trump said he "greatly respect the decision" adding that he will "abide by the decision... and post either a bond, equivalent securities, or cash."
Enforcement of other penalties, that were a part of the original judgment such as barring Trump and his elder sons from running businesses in New York were also delayed by the appeals court, reported BBC.
Earlier this year, Trump was found liable for repeatedly inflating the value of his assets in a landmark fraud case against a former president and a prospective Republican nominee for this year's poll.
Monday began with a twin legal crises for the 77-year-old Republican leader as a hearing was due in a Manhattan courtroom to set a new date for his trial over the payments he made on the eve of republican polls in 2016 to make sure adult film star Stormy Daniels did not publicise a sexual encounter.
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