this post was submitted on 02 Apr 2024
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Former President Donald J. Trump averted a financial disaster on Monday, reaching a deal that will spare him from paying a $454 million judgment in his civil fraud case while he appeals the penalty.

The lifeline came in the form of a bond that will prevent New York’s attorney general, who brought the lawsuit that led to the judgment, from collecting the $454 million until Mr. Trump’s appeal is resolved. The attorney general, Letitia James, accused Mr. Trump of fraudulently inflating his net worth by as much as $2 billion, and a judge ruled in her favor.

Mr. Trump secured the bond after an appeals court last week granted his request to lower the bond amount, setting it at $175 million and staving off a financial crisis for Mr. Trump. He otherwise would have had to post a bond for the full $454 million, which his lawyers declared a “practical impossibility.” Had he failed to do so, Ms. James could have frozen his bank accounts.

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[–] [email protected] 9 points 7 months ago (1 children)
[–] [email protected] 11 points 7 months ago (2 children)
[–] [email protected] 11 points 7 months ago* (last edited 7 months ago) (1 children)

Your brain, being slightly drunk, defaulted to something it can more easily comprehend. Totally understandable. Two hundred and seventy five million US dollars is a discount that's hard to fathom.

[–] [email protected] 1 points 7 months ago

Nice Bucky's avatar, heh

[–] BA834024112 2 points 7 months ago