A New York appeals court has blocked the collection of Donald Trump's fraud judgment, ruling that he has 10 days to post a $175 million bond.

Donald Trump was supposed to have to post a $464 million bond by Monday or else the state of New York could begin collecting on the massive civil fraud judgment leveled against him earlier this year. An appeals court bailed him out, blocking collection of the judgment and giving the former president 10 days to post a drastically reduced $175 million bond.

The order is a huge win for Trump, whose assets were going to be subject to seizure if he couldn’t post nearly half-a-billion dollars by Monday. His lawyers said last week he wasn’t going to be able to come up with the money after 30 underwriters rejected him. The New York Times has reported that Trump is expected to be able to scrounge the new, reduced $175 million bond

    • dogslayeggs@lemmy.world
      32·
      8 months ago

      It’s a lot easier to get a few $50M bonds than to get five $100M bonds (I read some post that said these big bond places have firm limits at $100M). It also gives him 10 more days to tout how he is about to make $3B on his Truth Social sale (to a shell company who overinflated the price) and will totally be good for the bond. I think he can do it just to avoid them digging into his finances.

      It’s complete bullshit. Normal people are not given this kind of leniency.

    • tygerprints@kbin.social
      143·
      8 months ago

      He doesn’t have to, his sycophantic followers will go into bankruptcy to provide it for him. I just found out he’s already raised more than this to pay the debt as of this morning.

    • PerogiBoi@lemmy.ca
      9·
      8 months ago

      I have zero doubt that he will be able to fundraise this amount in the 10 day extension he was given. There are several people I went to high school with (in Ontario) that are actively donating to him.

      • kent_eh@lemmy.caEnglish
        1·
        8 months ago

        have zero doubt that he will be able to fundraise this amount in the 10 day extension he was given.

        He has been pumping that well for a long time. It’s going to go dry at some point.

    • ReallyActuallyFrankenstein@lemmynsfw.comEnglish
      7·
      8 months ago

      He’s already posted a reaction post to Truth Social which fawns over the Appeals Court ruling. I don’t trust the words if he says he can pay, but I trust that he would be whining like a toddler in time-out right now if he couldn’t. So he’ll probably be able to pay.

      • FaceDeer@fedia.io
        8·
        8 months ago

        Until he thinks “wait a minute, I whined and whined and they reduced the bond. Maybe if I continue whining and whining they’ll reduce it more.”