In a recent development, former President of the United States, Donald Trump, has been granted a temporary reprieve as a US court has reduced the bond amount required to cover a $464 million fraud judgment against him. The court has also extended the deadline for payment, preventing authorities in New York from initiating asset seizure during this grace period.
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Following Trump’s appeal, the New York state appellate court has approved his request to postpone the deadline for payment and to lower the bond amount while he appeals the ruling. Instead of immediately being required to pay $464 million, Trump now has a 10-day window to cover a reduced bond of $175 million. This decision comes in the aftermath of Trump being found liable for overstating his net worth in order to deceive investors and lenders.
Trump’s legal team argued that the initial bond amount was unreasonably high, asserting that he would not be able to meet the payment deadline. Conversely, New York City Attorney General Letitia James had previously warned of asset seizure if Trump failed to comply with the original deadline.
Amidst facing a slew of legal challenges, including civil and criminal cases, Trump has accused authorities of engaging in politically motivated actions aimed at undermining his re-election campaign. This latest development offers Trump a temporary respite as he navigates through various legal battles.
