The development came just before New York Attorney General Letitia James was expected to initiate efforts to collect the judgment.
Donald Trump got a major legal lifeline on Monday when a New York appeals court agreed to slash the bond in his New York fraud case from $454 million to $174 million.
In remarks immediately after the decision Trump called Judge Arthur Engoron a 'disgrace' and said 'this should not be allowed to happen.' He said the judge had 'done a terrible disservice' to the state of New York. Earlier this week, Trump's lawyers pleaded for a state appeals court to halt collection, claiming it was 'a practical impossibility' to get an underwriter to sign off on a bond for such a large sum.
'His credibility, and that of Letitia James, has been shattered. We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash,' Trump wrote on his Truth Social site. 'This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS TOTALITY AS SOON AS POSSIBLE. THANK YOU!'
Trump claimed in an online post last week to have $500 million in cash, and said during a deposition of his fraud trial he had $400 million.
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