Former US President Donald Trump was spared the risk of having his significant assets seized, as a New York court decided to offer him a “lifeline”, accepting a lower bail.
In particular, as the BBC reports, the New York appeals court gave Donald Trump 10 days to pay $175 million instead of the total fine of $464 million for the civil fraud case.
Trump, in a post on Truth Social, said he would comply with the New York appeals court’s decision and post either bail or equivalent securities, securities or cash.
Now, the former US president has 10 days to post a bond that will cover the bail.
The former US president’s campaign team on Friday appealed for donations from “one million pro-Trump patriots”, saying the “iconic Trump Tower” was among the assets at risk of seizure.
“It should be zero, I didn’t do anything wrong”
Trump, who is seeking a return to the presidency this year, will appeal a February 16 ruling by Judge Arthur Engoron that he handed over the net worth of his estate and his family’s brokerage firm in order to defraud lenders. and insurers.
This morning, Trump wrote on social media that the amount set by Engoron is “dishonest”.
“It should be ZERO, I DID NOTHING WRONG,” he noted.
A blow to his public image
The case hurts his public image as a platform businessman. Trump has become known as a developer of flashy buildings such as Trump Tower in Manhattan and often brags regarding his financial success, even if his companies have struggled at times.
But now the Republican Party nominee in the Nov. 5 presidential election, who will face Democratic President Joe Biden, is facing a financial concern, including raising money for his campaign.
The court order was issued in Manhattan, where Trump properties such as Trump Tower or the skyscraper 40 Wall Street might find themselves in the stomach of New York State Attorney Leticia James, a Democrat who brought the civil suit in 2022.
James also notified Westchester County, north of New York City, of the decision, a step toward seizing assets there, including Trump’s golf course and a 60-room plus estate, called Seven Springs.
Taking control of Donald Trump’s properties would pose legal and logistical challenges for the attorney general’s office. Placing liens once morest them to ensure they are not sold or transferred and not targeting Trump’s liquid assets was simpler.
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