A New York judge reduced former US President Donald Trump's bail in a fraud case from $464 million to $175 million. The Trump family was also able to get a ten-day payment delay, Written by BBC.
The Trump family was originally supposed to post bonds worth $464 million (about 170 billion HUF) by Monday so that the court could suspend the implementation of one of their fraud cases. If security is not provided, the authorities can seize your bank accounts and property.
Although the $464 million was not collected, the Court of Appeal granted relief and reprieve. The Trump family has ten days to raise $175 million (64 billion Hungarian forints).
“I really respect the decision. We will abide by the decision of the appeals court and we will pay the bail or the equivalent in securities or cash,” Trump said.
Posting the reduced bail of $175 million would delay the enforcement of the fraud conviction and protect his assets during the appeal.
The appeals court also agreed to keep other provisions in the original ruling, such as barring the former president and his eldest children from running businesses in New York.
Last week, Trump's lawyers claimed that the family was unable to pay the $464 million fine because they could not find a financial company that would have provided them with a bond of that value. Perhaps because the Trump family was unable to provide collateral to prove that they had sufficient liquidity in the form of cash or stocks.
