Former President Donald J. Trump averted a financial disaster on Monday, reaching a deal that will spare him from paying a $454 million judgment in his civil fraud case while he appeals the penalty.
The lifeline came in the form of a bond that will prevent New York’s attorney general, who brought the lawsuit that led to the judgment, from collecting the $454 million until Mr. Trump’s appeal is resolved. The attorney general, Letitia James, accused Mr. Trump of fraudulently inflating his net worth by as much as $2 billion, and a judge ruled in her favor.
Mr. Trump secured the bond after an appeals court last week granted his request to lower the bond amount, setting it at $175 million and staving off a financial crisis for Mr. Trump. He otherwise would have had to post a bond for the full $454 million, which his lawyers declared a “practical impossibility.” Had he failed to do so, Ms. James could have frozen his bank accounts.
Your brain, being slightly drunk, defaulted to something it can more easily comprehend. Totally understandable. Two hundred and seventy five million US dollars is a discount that’s hard to fathom.
Nice Bucky’s avatar, heh