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submitted 3 months ago by MicroWave@lemmy.world to c/news@lemmy.world

Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing. 

A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement. 

The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest. 

If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.

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[-] snooggums@midwest.social 16 points 3 months ago

The appeals court just stroking the balls of the wealthy as usual.

this post was submitted on 02 Apr 2024
256 points (96.4% liked)

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