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The Republican Trump, set to face Democratic President Joe Biden
in the November U.S. election, was found liable on Feb. 16 for
fraudulently inflating his net worth by billions of dollars to
secure better loan and insurance terms.
Trump originally needed to post a bond for $454 million, but an
appeals court on March 25 stayed enforcement of Justice Arthur
Engoron's judgment on condition that Trump pay the smaller sum
within 10 days.
A three-judge panel of the appeals court will hear Trump's
appeal on the merits. The appeals court ruling reducing the bond
is no indication of how the panel will ultimately rule.
The bond prevents New York Attorney General Letitia James from
going after Trump's properties, including Trump Tower, his
370-acre resort and golf course in Westchester and his Mar-a-Lago
estate in Florida.
Trump has denied wrongdoing and said the case is a political
witch hunt by James, a Democrat who sued him in 2022.
In a 92-page order, Justice Engoron described how Trump directed
deputies to change the values of his properties to arrive at his
desired net worth for a decade before his entry into politics.
The case is part of a maelstrom of legal troubles Trump faces,
including a criminal trial in New York set to begin on April 15.
Trump, who has pleaded not guilty, is accused in that case of
illegally covering up hush money payments to a porn star ahead
of the 2016 election.
He has also been charged in two cases with trying to overturn
his 2020 election loss to Biden and in another over his handling
of classified documents upon leaving office.
Those have been mired in delays and may not go to trial before
the November election.
Trump has pleaded not guilty in all of them.
(Reporting by Jack Queen in New York; Editing by Noeleen Walder
and Howard Goller)
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