- An appeals court on Monday gave Donald Trump a lifeline, cutting his bond down to $175 million.
- He had previously told the court he could not secure a $454 million bond in his fraud case.
- Trump will have 10 days to pay up.
An appeals court gave Donald Trump a break on Monday, allowing him to post a $175 million bond in his New York civil fraud case, instead of a bond covering the $467 million he and his company now owe.
Trump will have 10 days to come up with the $175 million bond stemming from his New York civil fraud judgment.
Trump and other company executives at the Trump Organization were liable for the nearly half-a-billion dollar penalty after the court found last month they had conspired to inflate the value of their real estate assets to dupe lenders.
Trump is on the hook for the bulk of the giant judgment. As of Monday, he personally owes the state of New York $457 million.
The former president was originally given 30 days from the February 23 judgment to pay up or secure an appeal bond to cover the cost of the penalty while he fought the ruling in court.
Trump got the lifeline on Monday as he appeals the court’s ruling.
As he tried to secure a bond, which would have required he provide $1 billion in cash reserves to cover the risk, he was spurned by roughly 30 companies that provide appeal bonds, The New York Times reported.
He accrues $112,000 in interest each day he delays payment.
