donald trump can keep his beloved properties instead of having them seized by the New York Attorney General – at least for now – after he posted a $175 million bond!
As you know… ex-prez was granted $454 million bond in his civil fraud case filed by AG Letícia Jamesbut he appealed and I had the value reduced to US$175 thousand.
On Tuesday, DT took to his Truth Social platform to brag shortly after paying the smaller, but still surprising, amount for the bond. He also criticized James and the judge in the case, calling them corrupt and the entire situation election interference. No shock there.
As for the back story… James claimed that DT was fraudulently inflating his net worth by billions to secure better loans, and the judge agreed with the AG.
Trump received a $464 million judgment — and the judge ordered him to post $454 million bail to appeal the ruling, which accounted for the bulk of the fraud sentence against the former prez.
Trump’s lawyers argued that 45 could not cough up the considerable sum in the time allotted by the court – ten days. James threatened to seize Trump’s prized possessions, eyeing notable buildings like Trump Tower and 40 Wall Street.
But last week, Trump’s lawyers asked an appeals court to reduce bail, and their request was granted, reducing it by more than half.
Trump secured the title on Monday with the help of Knight Specialty Insurance Company, which underwrote the grand total. Basically, the insurance company promised the New York court that it will pay out the entire bond if Trump loses on appeal and has no money to cover it.
While it was good news for Trump, there was also very bad news for Trump yesterday.
Shares of Trump Media – which includes Truth Social – plummeted more than 21%, causing DT to lose around $1 billion in equity in a single day.