Former US President Donald Trump.
Photo: REUTERS
Lawyers described the court’s decision as very unusual and unprecedented, drastically reducing – by 60%, from $464 million to $175 million – the amount of bail that Donald Trump must pay as part of his appeal in the fraud case. .
The court previously found Trump and his children guilty of falsifying financial statements, which the court said allowed Trump’s companies to obtain loans and insurance policies on more favorable terms. Trump’s accountants drastically inflated the value of his assets, after which they submitted documents to insurance and credit organizations. Additionally, all loans were repaid on time and in full.
According to the court’s verdict, Trump must pay a fine of $500 million, but he has filed an appeal against the verdict. However, under New York State law, it will only be considered if the defendant posts bail in the amount of 110% of the fine.
For the past month, Trump has been seeking available funds, but the court suddenly agreed to drastically reduce the bail amount.
There have already been such precedents in the history of the United States: in the mid-1980s, during the dispute between the Texaco and Pennzoil corporations, the court, without preconditions or explanations, drastically reduced the amount of bail required in 10 times: from 10 billion dollars to one billion dollars.
