Former President Donald Trump was facing a $464 million bond in his New York civil fraud case with his properties at risk of being seized if he did not provide the money. On Monday, March 25, a New York state appeals court cut his bond by 68% and gave him until Monday, April 1, to pay it.
The appeals court cut his bond from $464 million to $175 million and gave him 10 extra days to pay. Trump said he will comply under the new terms.
The extension and reduced bond will make it easier for Trump’s legal team to appeal Judge Arthur Engoron’s ruling. Engoron ruled that Trump inflated his net worth for better business loans and therefore owes the state $454 million.
According to New York law, Trump has to pay 110% of the judgement as he appeals, which is why he was ordered to pay $464 million until his team argued to the five-judge panel that such a task was practically impossible.
Trump’s legal team asked the appeals court to lower the bond amount to $100 million, leading to last minute changes to the bond by the court.
While $175 million is due in court for the appeal to play out, the amount Trump owes in the end depends on if he wins or loses the case on appeal.
