Donald Trump gets lifeline in $454M civil fraud case

Trump faces Monday deadline to pay huge original bond while awaiting appeal

New York:

Donald Trump got a huge lifeline on Monday when an appeals court slashed a potentially crippling demand for nearly half a billion dollars in bond payments and gave him 10 more days to pay.

The Republican presidential candidate got unexpectedly positive news about his New York civil fraud case as he hears another case in court – an upcoming hearing in his criminal trial over hush-money payments to porn stars.

Trump faces a Monday deadline to pay a hefty original bond pending an appeal against a judge’s ruling that he was responsible for a fraudulent conspiracy to inflate his net worth.

Trump made it clear he could not find the $454 million, and in response he risked the state of New York seizing part of his empire. Now, under Monday’s decision, he will have 10 days to pay the $175 million.

Trump wrote on his Truth Social app that he would “comply with the decision of the Appellate Division and post bond, equivalent securities or cash.”

The 77-year-old Republican began a day in which he faces dual legal crises with a hearing in a Manhattan court setting a new trial date for payments he made to secure porn stars in the run-up to the 2016 presidential election. Stormy Daniels gets away with it. Public sexual contact.

“This is a witch hunt,” Trump told reporters before walking into the courtroom.

The hush-money trial was originally scheduled to begin on Monday but was delayed at the last minute as prosecutors came up with tens of thousands of pages of potential evidence.

The Manhattan district attorney told Judge Juan Merchant he was willing to accept a delay of up to 30 days to start the trial, while Trump’s lawyers had asked for at least three months.

“Election interference”

Speaking on “Truth Social,” Trump denounced both cases as politically motivated attacks ahead of the Nov. 5 presidential election, when he is likely to face incumbent Democrat Joe Biden again.

“These are rigged cases, all coordinated by the White House and Department of Justice to interfere with the election,” Trump wrote. “No crime was committed. Our country is corrupt!”

Trump has frequently complained about the judicial system, which he claims is “destined” to work against him.

He said New York Attorney General Letitia James, who is black, is a “racist” and accused Judge Arthur Englund in the civil fraud case of being “disingenuous.”

Trump got some positive financial news last week when it was announced that Truth Social would eventually go public through a merger, a deal that could net him billions of dollars in revenue.

He won’t be able to access the funds for six months, but it may help him obtain a bond.

However, if payment is not made, James could still order a freeze on his bank accounts or seize some of his properties in New York.

Seeking more delays

Trump’s lawyers have sought ways to delay his multiple trials — if possible until after the presidential vote.

In the trial involving Stormy Daniels (real name Stephanie Clifford), Trump is accused of illegally using campaign funds to ensure her silence about an alleged sexual encounter in 2006.

If she speaks out, the consequences could be devastating for Trump’s presidential hopes, coming on the heels of another scandal that stemmed from a recording of the married businessman boasting that as a celebrity, he Feel free to “grab” women. their genitals.

Trump is accused of illegally paying hush money involving falsifying business records.

If convicted, the former president could face up to four years in prison.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)