April 23, 2024

Trump Bond to Stand in New York Fraud Case

Donald Trump finally caught a break in the Letitia James case.

For a hot minute, it almost appeared that Trump was going to lose his $175 million bond that was posted.

Thankfully, he and New York Attorney General Letitia James came to an agreement that would leave the bond in place.

Sigh of Relief

When the initial ruling came down, Judge Engoron ordered Trump to pay the judgment in full.

This meant that Trump would have to pay nearly $500 million to avoid forfeiting his right to appeal, which he immediately appealed.

It went down to the last day, but the appellate court ordered the bond reduced to $175 million, as well as giving Trump an extension on posting the bond.

Trump was able to secure the bond relatively quickly, but then James challenged the bond, saying the company that issued the bond was not certified to do so in New York, among other challenges.

This week, Trump and James came to an agreement that would allow the bond to stand.

After the agreement was reached, Trump stated, “We put up cash and the number is 175.

“[James] shouldn’t be complaining about the bonding company. The bonding company would be good for it because I put up the money.

“I have plenty of money to put up.”

Trump defense attorney Alina Habba added, “We wasted time. The judge said he thought money market accounts go down under the amount — he doesn’t understand basic principles of finance.

Chris Kise, another Trump attorney, piled on, stating, “Despite another flawed and desperate protest by the Attorney General, President Trump is pleased the Court determined the $175 million he posted in cash is worth $175 million, and the bond form in use in the New York court system for a century is in fact acceptable.”

This is great news for Trump, who now has no roadblocks to appealing the ridiculous judgment ordered by Engoron, handing James everything she wanted on a silver platter.

From the outset, I stated that I expect Trump to win this case on appeal or, at the very least, have that penalty significantly reduced.

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