(ConservativeJournal.org) – Donald Trump will pay a massive $175 million cash bond within ten days of March 25 to satisfy the bond requirement in his NY civil fraud case. Trump had previously been slapped with a roughly half-billion dollar penalty by Judge Arthur Engoron in the case brought by NY Attorney General Letitia James wherein she alleged Trump overestimated the value of his real estate holdings to secure favorable loans which he then used to grow his businesses.
Trump had until the end of the day on March 25 to pay the fine or secure a bond. Due to the size of the fine, Trump had reported difficulties in securing a third party to agree to underwrite that amount in legal filings to the NY Court of Appeals. The NY Appeals Court ruled that Trump could instead pay a much lower amount of $175 million to satisfy the requirements to have his appeal heard.
The five-judge panel also suspended the additional penalties imposed by Engoron that would prohibit Trump, his organization, and certain family members from owning and running businesses in the state. The only penalty left in place by the Appeals Court was a third-party independent monitor to surveil Trump’s business spending.
James has been practically salivating in public over her intention to seize Trump’s New York properties if he had failed to secure the funds. James told ABC News that she was willing to seize his properties and had even filed paperwork in preparation in Westchester County.
Trump told reporters leaving a downtown Manhattan courthouse that he would cover the bond with “cash.”
A prior report by the New York Times suggested Trump has roughly $350 million in liquid assets on hand, if that’s accurate he should be able to cover the amount with his personal fortune. Any funds paid will be held until the conclusion of this particular case, and Trump will have his funds returned if the current rulings by Engoron are overturned on appeal.
Unfortunately, that process is likely to take several months or longer.
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