(TheLastPatriotNews.com) – In a crucial victory for Donald Trump in his pushback against Democrat-led judicial persecution, an appeals court has slashed tremendously the sum the former president needs to post as a bond in his $464 million civil fraud case, thus also allowing him to avoid the confiscation of his assets.
On Monday, an appellate court in New York decided to grant Trump an additional ten days to secure a $175 million bond in his ongoing civil fraud lawsuit.
This extension is significant because it means Trump is not required to meet the initially set $464 million judgment immediately, thus also potentially averting the seizure of his assets, National Review reports.
Last month, Judge Arthur Engoron of the New York Supreme Court mandated that Trump, alongside his co-defendants, which include his adult sons and two prior executives of the Trump Organization, compensate over $460 million in damages and interest.
This was for their alleged involvement in artificially increasing the value of Trump’s business assets.
The new appellate decision momentarily stops Letitia James, the Democrat New York Attorney General, from taking possession of the real estate tycoon’s properties to enforce the judgment.
James had expressed her intention to proceed with asset seizure if Trump failed to post the required bond by Monday. With the new ruling, the deadline for collection is postponed to the beginning of next month.
Reacting to the court’s decision, James maintained that Trump should be held responsible for alleged extensive fraudulent activities.
“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,” James commented.
“The $464 million judgment – plus interest – against Donald Trump and the other defendants still stands,” she added.
Furthermore, the appeals court order permits Trump and his sons, Donald Jr. and Eric, to continue operating their family’s business ventures in New York and to seek financing from banks within the state.
These activities had been prohibited for the next three years under Judge Engoron’s initial ruling.
However, the imposition of a court-appointed monitor and the designation of a compliance director for Trump’s company are still in place.
Trump lauded the appellate court’s decision, asserting his intention to post the $175 million bond within the stipulated ten days, while simultaneously criticizing Judge Engoron for the original judgment.
“What he’s done is such a disservice and should never be allowed to happen. New York state is being battered by his decision Judge Engoron is a disgrace to this country,” Trump wrote on Truth Social.
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