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Trump business fraud bond reduced

Former President Donald Trump holds up a copy of a story featuring New York Attorney General Letitia James while speaking during a news conference in January. Associated Press/Photo by Mary Altaffer, file

Trump business fraud bond reduced

A five-judge panel from New York’s First Appellate Division on Monday ruled to reduce the bond former President Donald Trump must pay before appealing a $464 million fine for civil business fraud. That amount includes $10 million levied against two of his sons, Eric Trump and Donald Trump Jr. The appeals court ruled that Trump only had to pay $175 million in the next 10 days before he could appeal. Trump was previously supposed to pay all $464 million by Monday. He will still be liable for the the full amount if his appeals are ultimately unsuccessful.

Why is the bond being reduced? Lawyers for former President Donald Trump last week argued in a court filing that their client was unable to pay a lower court’s fine so that he could appeal its ruling. New York Supreme Court Judge Arthur Engoron earlier this year ruled that Trump and his organization were liable for civil business fraud. A New York appeals court judge then ruled that Trump and his organization had to pay the fine imposed by Engoron’s ruling before he could appeal his decision. The appeals court judge did allow Trump to work with New York finance and business entities to do so.

Dig deeper: Read Grace Snell’s report in WORLD Magazine about Trump’s ability to turn legal woes into campaign funds.

Josh Schumacher

Josh is a breaking news reporter for WORLD. He’s a graduate of World Journalism Institute and Patrick Henry College.

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