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President Donald Trump netted a partial win on Monday in the New York civil fraud judgment when a court ruled that he could post a significantly lower bond amount to appeal the case.
According to The New York Times, a five-judge panel of appellate court judges ruled Monday that the 45th president must post a $175 million bond within the next 10 days to appeal the more than $450 million judgment foisted against him by Judge Arthur Engoron in February.
The NYT admitted that this was a “crucial and unexpected victory for the former president, potentially staving off a looming financial disaster.”
Prior to Monday, the president had not yet been able to secure a bond amount to appeal the case, which would have been at least $450 million – or perhaps even more. His attorneys argued against the amount last week, calling it unconstitutional, illogical, and excessive.
Their argument was based partially upon the Eighth Amendment of the U.S. Constitution, which clearly states: “Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.”
Trump’s bond amount is still high, but it represents a win for the president, who was facing the possibility of New York Attorney General Letitia James seizing his assets on Monday if he did not post the nearly half-billion-dollar bond to appeal the case.
Shortly after news from the appellate court broke that he could post a lower bond amount, Trump released an official statement on his free speech platform, Truth Social. It read:
“Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him – A very bad situation in which to place New York State and the Rule of Law! Engoron has disrespected the Appellate Division and its very clear and precise ruling. He should be made to do so, and at the same time, release the GAG ORDER. This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered. We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS TOTALITY AS SOON AS POSSIBLE. THANK YOU!”
The president added that both Engoron and AG James should be “forced to explain” why they valued his sprawling estate in Florida, Mar-a-Lago, at just $18,000,000, although he says it is worth “from 50 to 100 times that amount.”
“How did the Attorney General of the State of New York force this Corrupt Judge to do that in order to help her narrative – AND WHY?” he pondered.