in Featured World News Trump New York Fraud Bond Slashed to $175 Million from $454 Million
by AP
A New York appeals court on Monday agreed to hold off collection of former President Donald Trump’s $454 million civil fraud judgment — if he puts up $175 million within 10 days.
If he does, it will stop the clock on collection and prevent the state from seizing his assets while he appeals.
The development came just before New York Attorney General Letitia James was expected to initiate efforts to collect the judgment.
Earlier this week, Trump’s lawyers pleaded for a state appeals court to halt collection, claiming it was “a practical impossibility” to get an underwriter to sign off on a bond for such a large sum.
The ruling was issued by the state’s intermediate appeals court, the Appellate Division of the state’s trial court, where Trump is fighting to overturn a judge’s Feb. 16 finding that he lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story is below:
Former President Donald Trump could find out on Monday how New York state aims to collect over $457 million he owes in his civil business fraud case, even as he appeals the judgment that led to the gargantuan debt.
After state Attorney General Letitia James won the judgment, she didn’t seek to enforce it during a legal time-out for Trump to ask an appeals court for a reprieve from paying up.