Former President Donald Trump, facing significant legal challenges, experienced a dramatic turn of events on Monday as a New York judge reduced his bond requirement in a civil fraud case and set a trial date for his criminal hush money charges.
In a major financial lift, a panel of five appellate court judges in Manhattan reversed a previous ruling that mandated Trump to post a bond of $464 million in the civil fraud lawsuit.
An appeals court cut #Trump’s bond in his New York civil fraud case by more than half, with it now totaling $175 million. NTD spoke to @willscharf who said the move was an “absolute repudiation” of how #ArthurEngoron and #LetitiaJames have handled the case.https://t.co/sgmMDoh0g5
— NTD News (@NTDNews) March 26, 2024
Instead, the court reduced the amount to $175 million, a decision Trump's legal team celebrated.
Trump's net worth, estimated at $6.5 billion, received a further boost ahead of the launch of his new social media venture, elevating him to the ranks of the world's wealthiest individuals.
The civil fraud case, which could take several months to resolve, stems from allegations that Trump inflated his net worth to obtain favorable loans and insurance premiums.
Will Scharf, a former federal prosecutor and an attorney for President Trump, said, "The move was an 'absolute repudiation' of how Judge Arthur Engoron and New York Attorney General Letitia James have handled the case."
The trial for the criminal hush money charges, accusing Trump of concealing a $130,000 payment to a porn star before the 2016 election, is set to begin jury selection on April 15.
Trump faced disappointment in a Manhattan courtroom as Judge Juan Merchan declined his request to drop the hush money charges or delay the trial by at least 90 days due to last-minute discovery disclosures.
The judge sided with District Attorney Alvin Bragg, finding that Bragg had fulfilled his discovery obligations and setting the trial start date as previously scheduled.
The eleventh-hour disclosure of over 100,000 pages of documents related to key witness Michael Cohen, provided by the U.S. Attorney's Office for the Southern District of New York, sparked controversy.
Trump's attorneys argued that the delayed disclosure hindered their ability to prepare a defense, accusing Bragg of withholding exculpatory evidence.
Bragg countered by blaming the U.S. attorney's office for the delay and accusing Trump of seeking unwarranted case dismissal and trial delay.
While the reduced bond amount offers Trump some reprieve, the impending criminal trial and ongoing legal battles underscore the mounting challenges he faces in navigating the legal attacks against him.
