On Monday, Donald Trump achieved a significant legal victory when a state appeals court allowed him to temporarily halt the enforcement of a $454 million civil fraud judgment against him, provided he posts a $175 million bond within ten days.
This decision offers Trump relief from an immediate financial predicament, sparing him from having to liquidate assets at significantly reduced prices to cover the original bond amount.
The ruling pertains to a case where Trump was found to have exaggerated his wealth to mislead investors and lenders.
Trump expressed his satisfaction with the appellate division’s decision, committing to promptly arrange the required $175 million through cash, bonds, securities, or other means.
The judgment delay is a setback for New York Attorney General Letitia James, who is overseeing the civil fraud case against Trump.
Despite the pause, her office emphasized that Trump would still be held accountable for his “staggering fraud.”
This legal battle unfolds as Trump, a Republican, confronts various criminal charges and substantial civil judgments while campaigning to defeat Democratic President Joe Biden in the upcoming November 5 election.
Trump’s legal challenges include postponements of three criminal trials and a separate ongoing criminal case related to hush money payments, which is scheduled to commence on April 15.
Previously facing a deadline to produce the full $454 million, Trump risked having assets seized, including valuable real estate.
He has had difficulty funding his legal defenses and campaign, pleading not guilty in criminal proceedings and denying all wrongdoing.
In the fraud case led by James, Trump was found to have significantly inflated his net worth, affecting terms for loans and insurance.
Trump criticizes the case as politically motivated. Justice Arthur Engoron ruled that Trump committed fraud by overvaluing assets, including Mar-a-Lago and his Trump Tower penthouse.
Additionally, Trump has posted a $91.6 million bond in a defamation case related to allegations made by writer E. Jean Carroll, with plans to appeal that judgment as well.
Trump’s other legal woes stem from attempts to contest the 2020 election outcome, mishandling classified documents, and hush money payments related to allegations of a past sexual encounter.