A New York appeal court authorized, this Monday, the former President of the USA to pay a bond of 175 million dollars (around 161 million euros), in a civil fraud case, when the original sentence obliged him to pay a much higher amount, 454 million dollars.
The decision by a panel of five appeal court judges is a “crucial and unexpected victory for the former President”, writes the newspaper The New York Times. If the court had denied Donald Trump’s team’s request, the Republican candidate for the November elections would have run the risk of losing control over his bank accounts and, eventually, could see some of his properties seized.
Donald Trump now has ten days to make the payment and, according to the North American daily, which cites sources close to the Republican, the former President will have the financial capacity to fulfill this requirement. “I very much respect the division of appeal and I will deposit the 175 million dollars in cash or bonds, or whatever is necessary, very quickly,” Trump told reporters, quoted by Reuters, as he left the court.
The investigating judge, Arthur F. Engoron, found Donald Trump responsible for conspiring to inflate his net worth to obtain favorable bank loans and other financial benefits. Among the overvalued properties are homes in Mar-a-Lago, Florida, his apartment in Manhattan’s Trump Tower, and several office buildings and golf courses.
The $454 million reflects the interest payments Trump saved by cheating his creditors, as well as profits from the recent sale of two properties.
