Trump wins partial stay of fraud judgment, allowed to post $175 million

March 23, 2024

An appeals court panel said on Monday, March 25, that former president Donald Trump would be allowed to post a $175 million bond to stave off enforcement of a nearly half-billion dollar civil judgment against him and his business, reports The Washington Post.

The order on Monday morning was a significant win for Trump, who was otherwise facing a massive cash crunch and the prospect of New York Attorney General Letitia James seizing some of his assets as soon as this week.

However, while the panel eased the financial cloud over Trump, it did not erase it entirely. The panel gave Trump ten days to come up with the reduced bond of $175 million. Trump’s attorneys had previously sought to post a $100 million bond, rather than the full amount—and have not said whether he can meet the $175 million threshold.

James, who brought the lawsuit against Trump and his company, said Trump misstated the value of his properties and other assets by up to $2.2 billion a year from 2011 to 2021.

A judge in February ordered that Trump pay more than $450 million as a penalty. Trump’s attorneys have suggested that he would struggle to finance a bond of that size, saying they had tried and failed to get more than two dozen companies to help secure the bond.

An attorney for Trump did not immediately respond to a request for comment on Monday. Trump himself was in a New York courtroom Monday for a hearing in an unrelated criminal case, related to hush money payments made to an adult-film actress.

A spokesperson for the attorney general said: “Donald Trump is still facing accountability for his staggering fraud. The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization. The $464 million judgment—plus interest—against Donald Trump and the other defendants still stands.”

Donald Trump‘s first criminal trial is now scheduled to start on April 15, according to a report by Deadline.

Judge Juan Merchan set that date on Monday, as the former president faces a series of charges related to the hush money payments to porn actress Stormy Daniels in advance of the 2016 election. Trump’s charges have to do with claims that business records were falsified, among other things.

Research contact: @washingtonpost