Appeals court in NY slashes bond in Trump business fraud case

An appeals court in New York on Monday cut the bond in U.S. former President Donald Trump's business fraud case more than by half and granted a ten-day period for coming up with the smaller bond, reported Xinhua.

Trump, his two sons, one business associate and business organizations need to fulfill a bond of 175 million U.S. dollars within ten days rather than paying a total of 464.576 million dollars, according to a ruling by an appellate panel under the Supreme Court of the State of New York.

The latest ruling is seen as a win for Trump and his assets probably will avoid being seized by New York Attorney General Letitia James, the plaintiff in Trump's business fraud case.

Trump said on Monday that he respected the decision, and cash or a bond would be put up very quickly.

Earlier, Trump's lawyers told the appeals court that it was impossible to post the bond in full and proposed a bond of 100 million dollars instead.

The judgment of 464 million dollars plus interest against Donald Trump and the other defendants in the case still stands, according to a spokesperson with the New York Attorney General's office.

Arthur F. Engoron, a judge of New York County Supreme Court, delivered the decree on Feb. 16 with heavy punishment against Trump and other defendants.

The appeals court also stayed the enforcement of some other parts of the previous ruling centering on barring defendants in doing business and applying for loans in New York.

Meanwhile, Juan Merchan, another judge in New York, said Monday the criminal trial against Trump regarding election interference will begin on April 15 with jury selection.

Earlier, Merchan planned to begin the trial on March 25 but dismissed Trump's motion to toss out the indictment altogether or delay the trial further on Monday.

Arraigned in the case in early April 2023, Trump faces charges that he falsified business records during the 2016 presidential campaign to make "hush-money" payments to porn star Stormy Daniels and keep her quiet about an alleged sexual encounter with Trump before.