(ConservativeInsider.org) – On Monday, March 25, Former President Donald Trump encountered a mixed bag of legal developments. A judge agreed to reduce his bond in a New York civil fraud case from $464 million to $175 million, marking a significant win for the former president.
This decision came amidst a flurry of legal proceedings, with a date set for his criminal “hush money” trial, scheduled to commence on April 15, after rejecting Trump’s request for a trial delay.
The reduction in Trump’s bond amount was a victory for him, given his earlier concerns about securing the total sum. This ruling came just as a 30-day grace period granted by New York Attorney General Letitia James was about to expire, which could have led to the nationwide seizure of Trump’s assets.
A panel of five justices at the appeals court granted Trump 10 days to secure the reduced bond, also agreeing to postpone enforcement of non-monetary penalties imposed as part of the judgment. These penalties included barring Trump and his elder sons from conducting business in New York and applying for loans within the state. However, oversight measures, such as a monitor at the Trump Organization and an independent compliance director, would remain in place.
In response to the appeals court’s decision, Trump intended to post either a bond, securities of equal value, or cash. During a speech at 40 Wall Street, a property he could have lost if he hadn’t secured the bond, he criticized President Joe Biden and Attorney General James.
The court’s decision provided a significant reprieve for Trump, who had faced challenges securing the required amount for the bond. Several insurance companies had reportedly refused to accept his real estate holdings as collateral. Trump, facing multiple legal battles and mounting expenses, including four separate criminal cases, touted the success of his social media company, which was set to begin trading on the Nasdaq market.
In response to Trump’s remarks, a spokesperson for President Biden’s campaign characterized Trump as “weak and desperate,” alleging that he lied about his financial resources.
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