A New York appeals court made an important ruling on donald trumpbail in his civil fraud case.
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Here’s what the New York Court of Appeals ruled
According to CBS News, on Monday, March 25, the appeals court ruled to reduce Trump’s $464 million bond to $175 million. Additionally, the court is giving Trump ten days from March 25 to serve his bond.
CNBC adds that the decision came on the same day that New York Attorney General Letitia James could have begun seizing Trump’s assets. This could have included the former president’s real estate and banking assets.
However, due to the appeal decision, James is now prohibited from doing so. Additionally, CNBC notes that the appeals court gave no reason to reduce Trump’s bail by about 60%.
Even so, it seems that the former president is happy with the decision.
“We will publish whatever is necessary, whether it is money, bonds or bonds,” Trump told reporters after leaving the courthouse.
Additionally, Trump’s lawyer Charles Kise also released a statement on the matter.
“Today’s ruling represents a major first step toward the final reversal of a baseless and reckless judgment,” Kise said in a statement, via CNBC. “The (appellate division) has undoubtedly recognized that the rule of law must trump the Attorney General’s political agenda. President Trump looks forward to a full and fair appeals process that will overturn the sentence and put an end to the Attorney General’s abuse of power and tyrannical persecution of the leading candidate for President of the United States.”
Although the appeals court changed the original decision on Trump’s bail, the former president will still be barred from serving as a director or officer of a New York company for the next three years. Furthermore, Trump’s sons, Donald and Eric, will continue to face the same hurdle over the next two years.
Reactions on social media
Social media users reacted to the former president’s latest developments in Shade Room Comments Section.
Instagram user @_iamlivinlavish_ wrote, “This man is above the law, seriously.”
While Instagram user @lahluvie added, “Dear Donnie and his contacts…insane”
Instagram user @emmanuel_ejiohuo_21 wrote, “Someone said Trump used a Fashion Nova discount code 😭💀”
While Instagram user @jeromebellbastien added, “I lost all hope in this place…”
Instagram user @elementalesthi wrote, “It’s the fact that people can’t even work at McDonald’s while awaiting criminal charges, but he can run for president 🙄”
Although Instagram user @imrozburton added, “How he is running for president with all this sum is not right 😅”
Instagram user @blackmomstv wrote, “They just let this man get away with anything and everything..smh”
A brief recap of the cause of Donald Trump’s civil fraud and the subsequent bond
As The Shadow Room previously reported, New York City Judge Arthur Engoron approved Trump’s $464 million bail sentence in February. At the time, it was determined that Trump had committed “a decade of dealing with fraudulent” and “exaggerated” financial statements.
In response, Trump denied any wrongdoing. However, Judge Engoron ordered that the former president’s bail be satisfied by March 25, for CBS News.
Last week, Trump’s lawyers argued that he would be unable to pay the multimillion-dollar bond. They claimed that “the magnitude of the judgment” would require Trump “to use his real estate as collateral for the title.”
However, after approaching more than 30 underwriters, no insurance company wanted to accept properties as collateral. As a result, Trump filed an appeal requesting a reduction in the bond judgment.
Days later, it was reported that Attorney General James took initial steps to begin seizing Trump’s assets, for The Shadow Room. The former president may have made a quick buck by reducing his titles. But we will have to wait until early April to see if Trump meets his new $175 million decision.
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