Trump Bond in New York Case Slashed by More Than Half
When Judge Engoron handed down his judgment in the New York fraud case brought by Letitia James, most legal experts believed it was way over the norm.
When he denied Trump’s motion to have the bond lowered, those calls got even louder.
Well, Trump and everyone else were just proven right, as the appellate court gutted the bond decision, reducing it “to only” $175 million.
Crazy Money
Few people would have $500 million in cash available to them, and Trump surely was not one of them, even though he claimed to have that much.
Even if Trump does have that kind of cash freed up, it would surely clean him out of liquid assets.
Luckily, he will not have to worry about that, as the appellate court cut the bond down to $175 million as well as giving Donald Trump 10 additional days to make good on the judgment.
Trump immediately went on the attack after the ruling was announced.
He posted, "Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him - A very bad situation in which to place New York State and the Rule of Law!
“Engoron has disrespected the Appellate Division and its very clear and precise ruling.
"He should be made to do so, and at the same time, release the GAG ORDER."
Trump then added that he would abide by the court’s most recent decision, stating, "We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash.
"This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million."
Trump should not have any problems getting the bond for the $175 million, but the important aspect of this is that he gets to continue his appeal of Engoron’s ridiculous ruling that was predetermined long before Trump even walked into that courtroom.
As I have stated before, I fully expect this verdict to either get outright overturned or significantly reduced on appeal.
