A New York court has reduced the bail that former President Donald Trump must raise to appeal a lost fraud case from $454 million to $175 million. He has ten days to transfer the deposit.
Trump was previously ordered to pay the millions in a civil lawsuit filed by the state of New York. He accuses him of exaggerating the value of his property. This gave him all kinds of financial benefits, such as better deals when taking out loans.
The former president wants to challenge the ruling, but had great difficulty obtaining the bail amount. He could have deposited the hundreds of millions himself or found a specialized company that would guarantee the amount. Trump’s lawyers are said to have approached dozens of so-called ‘bond companies’ in vain.
Trump was in danger of getting into trouble as a result. The state of New York can seize his property or freeze his bank accounts if he does not pay the amount in time. Although the former president presents himself as a billionaire, according to American media, a large part of his fortune is in real estate.
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