Donald Trump has had his bail reduced to $175 million in the fraud trial – payable within ten days. The former US president actually had to deposit almost half a billion dollars by Monday.
An appeals court in New York has significantly reduced the security deposit required of former US President Donald Trump following his conviction in the fraud trial. The court ruled that Trump only had to pay $175 million (162 million euros) into a judicial account or provide guarantees of that amount. He was given ten days to do this.
Trump had previously been given a bail amount of $454 million, which he was supposed to post by yesterday. However, his lawyers announced last week that the billionaire was unable to do so. The background is that most of Trump's assets are tied up in real estate and are not immediately available to him in cash.
There is a risk of seizure of real estate
If the US Republicans' likely renewed presidential candidate is unable to provide security, he will have to expect the New York public prosecutor's office to block his accounts or seize properties – that would be a great disgrace and potential for the right-wing populist, who praises himself as a brilliant businessman a setback for his election campaign.
However, Trump, who attended another hearing in the Stormy Daniels case on Monday, announced on his social media platform “Truth Social” that he would post a bond, other securities or cash to cover the $175 million sum .
Trump convicted of fraud in February
In the civil case for business fraud, Trump and his sons were found guilty of artificially inflating the assets of their real estate empire over the years in order to obtain favorable conditions from banks and insurance companies. Trump was therefore sentenced in February to a fine of around $355 million plus interest, which totals around $454 million. The 77-year-old has lodged an appeal against the verdict and therefore does not have to pay the fine for the time being. However, he must provide security in order for an appeal process to take place.
New York Attorney General Letitia James gave Trump 30 days to post bail after the verdict in February. After the downgrade, she now stated that Trump still has to answer for his “stunning fraud.”
The hush money trial is scheduled to start in mid-April
Several proceedings are now underway against Trump: Among other things, the Republican has to face a criminal case in connection with alleged hush money payments to a porn actress. This is scheduled to begin on April 15th, around three weeks later than planned. Another New York court announced this just a few minutes after the decision in the fraud trial. It is the first criminal trial against a former president in US history.
Antje Passenheim, ARD New York, tagesschau, March 25, 2024 4:00 p.m
