Fraud process
Trump has more time to pay a fine of millions
Former US President Donald Trump will only have to pay his fine later. photo
© Mary Altaffer/AP Pool/dpa
Donald Trump would actually have had to come up with a guarantee of around half a billion dollars by today. But the court grants him a reprieve.
An appeals court has ruled in favor of the former US President Donald Trump was given more time to pay a million-dollar fine from a fraud trial and reduced the deposit due. The court in New York announced that Trump would now have to provide a guarantee for $175 million (around 160 million euros) within ten days. The decision is a success and a relief for Trump, who would have had to post a bond for almost half a billion US dollars.
In February, Trump, who wants to be re-elected US President in November, was sentenced to a fine of more than $350 million in a fraud trial. With interest, the total amount due now amounts to more than 450 million US dollars (around 420 million euros). New York Attorney General Letitia James gave Trump 30 days to post bail after Judge Arthur Engoron’s decision. This deadline expired today, Monday.
His accounts were threatened with freezing
Until recently, it was unclear whether Trump would be able to meet the deadline. The ex-president had emphasized on his online platform Truth Social that he had the money, but at the same time his lawyers had explained that despite great efforts and negotiations with around 30 companies, they had initially not been able to secure a guarantee for this sum receive. If the bail payment had not come on time, the judiciary could have taken the first steps to seize Trump’s properties or freeze accounts. Trump denies all allegations against him and sees himself as a victim of a politically motivated justice system.
With the appeals court’s decision – assuming Trump submits the $175 million bond on time – payment of the entire fine would be suspended until the appeal against Judge Engoron’s decision is decided. Trump and his sons are therefore allowed to run companies in New York state again – at least for the time being.
“Donald Trump still has to answer for his breathtaking fraud,” said New York Attorney General James in an initial reaction. The penalty, which now stands at around half a billion dollars – including interest – remains in place.
Criminal trial against Trump begins in April
It was also announced that the criminal trial against Trump in connection with hush money payments to a porn actress is scheduled to begin on April 15th. According to consistent US media reports, Judge Juan Merchan in New York decided that a jury should be selected from that day – around three weeks later than originally planned. There has never been a criminal trial against a former president in US history.