By Kara Scannell | CNN
A New York appeals court has given former President Donald Trump 10 more days to post his bond to satisfy the civil fraud judgement and cut the amount necessary to $175 million.
It’s a major lifeline for the former president, who, along with his adult sons and his company, were fined more than $464 million, including interest, after Judge Arthur Engoron found Trump and his co-defendants fraudulently inflated the value of his assets.
The ruling staves off the prospect, for now, of New York Attorney General Letitia James seeking to seize the former president’s property to enforce the judgement against him. Trump had been struggling to come up with the means to post a bond of more than $500 million, the total that he would have needed before Monday’s appellate decision.
Trump will still have to find a way to post $175 million bond by next week. His attorneys said last week he was struggling to come up with bond to cover the full amount, noting that banks would not approve bond of more than $100 million.
The ruling stated that the $175 million bond will be in place until at least September, meaning James won’t be able to seek to enforce the judgement against Trump until then.
The order stayed the enforcement of several penalties Engoron had handed down in addition to the fine, including that Trump and his sons can still run a business in New York and obtain loans from New York financial institutions for now.
The order blocked those penalties in the judgment but also stated that the court-ordered monitor and the appointment of a compliance director will remain in place.
This story has been updated with additional information.
The-CNN-Wire
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