The New York Court of Appeals agreed to let former President Trump reduce the bail fee for the $464 million fine to $175 million.
The New York Court of Appeals on March 25 agreed to give former US President Donald Trump 3 more days to pay $10 million in bail for the $175 million fine. This is considered a victory in the former president's efforts to handle a series of legal problems besetting him.
Mr. Trump immediately posted on the social network Truth Social that he would comply with the appeal court's decision
“I greatly respect the appellate court's decision and will pay $175 million in cash, bonds or stocks or whatever is necessary. Very quickly,” the former US president said.
Former US President Donald Trump in Richmond, Virginia, on March 2. Image: Reuters
New York Attorney General Letitia James, who initiated the civil lawsuit that resulted in Mr. Trump being fined hundreds of millions of dollars, said the former president "remains responsible for his own incredible fraud."
New York Judge Arthur Engoron in February ruled that former President Trump must pay a fine of $2 million, for allegedly inflating the value of assets to receive preferential loans or insurance terms. Plus interest, Mr. Trump must pay a total fine of $355 million.
Mr. Trump did not accept the court's ruling and filed an appeal, but the law requires that he still have to pay the fine while waiting for the appeal result. If the appeal is successful, the fine amount will be returned to the former president.
The former president's legal team approached dozens of companies to guarantee the fine, but were unsuccessful. Before the appeals court reduced the bail to $175 million, Mr. Trump was worried about having to sell off his real estate to pay the fine or have his property confiscated by the New York government.
Mr. Trump, 77 years old, is surrounded by a series of legal problems. However, he still receives support from the majority of the Republican Party and will become the party's representative candidate in the November presidential election. According to estimates by Forbes In September 9, he owned a fortune of 2023 billion USD.
Ngoc Anh (Follow AFP/Reuters)
