Donald Trump wins appeal to reduce NY fraud bond, allowed to post smaller bond within 10 days

A New York appeals court on Monday decided to reduce the amount of the bond Donald Trump must post to settle a $454 million civil fraud verdict.

A New York appeals court on Monday decided to reduce the amount of the bond that Donald Trump must post to settle a $454 million civil fraud verdict. This ruling comes as a major legal and financial lifeline for Trump as he argued that he would have to sell his properties to raise funds.

The court has allowed Trump 10 additional days to post his bond to satisfy the civil fraud judgement and cut the amount necessary to $175 million. (AP)

The court granted 10 additional days to Trump to post his bond by slashing it to $175 million.

Trump was penalised over $464 million, including interest, after Judge Arthur Engoron determined that he and his co-defendants unlawfully inflated the worth of their properties in order to secure huge loans.

For now, the judgement sets aside the possibility of New York Attorney General Letitia James' attempts to seize Trump's property in order to execute the judgement against him.

According to the decision, Trump and his sons can continue to conduct business in New York and receive loans from New York financial institutions for the time being.

Trump and his son Eric have claimed that they had been facing immense difficulties to raise the $464 million bond.

Before Monday's deadline to post the huge bond, Trump said on Truth Social that Democrats are attempting to take away his hard-earned money. He claimed that he had "done nothing wrong", adding that New York Attorney General Letitia James and Judge Arthur Engoron should not be allowed to seize his assets.

He further claimed that he has the required penalty amount in his bank account, but added that the “substantial amount” had been intended for his presidential campaign.

Trump hails appeals court ruling, blasts judge Engoron

Trump again took to Truth Social after a judge allowed him 10-day extension to secure a portion of his $464m civil fraud bond.

The GOP leader said the decision by Appellate Division “shows how ridiculous and outrageous Engoron’s original decision was at $450 Million.”

Continuing his attack against Engoron, he said: “What he's done is such a disservice and should never be allowed to happen. New York state is being battered by his decision,”

He went on to call Engoron “a disgrace to this country.”