Former President Donald J. Trump is finally facing the consequences of his actions, and they come with a high price tag.
The disgraced politician faces ever-mounting legal pushback in equal measure to the still-climbing fees associated with several damning court rulings. The massive judgement Trump currently faces following his New York civil fraud trial loss may have cost him several of his properties, but its reduction in late March may see the former president hold out for a few months longer.
A state appeals court ruled, just ahead of Trump’s looming deadline, that his bond would be slashed by more than half, and gave the 77-year-old several additional days to pull the funds together. Following the initial harsh ruling, American citizens — and, in particular, Trump detractors — are wondering about the motivation behind the massive reduction.
Why was Donald Trump’s civil fraud bond reduced?
Trump, following several embarrassing court losses, owes more than $500 million in fees. He was initially supposed to ante up a full $464 million on Monday, but a last-minute ruling from a panel of state Appellate Division judges reduced his bond by more than half.
Trump now owes $175 million for his bond which is due within 10 days of the March 25 ruling. Trump was adamant that he’ll be able to make the payment — and quickly — and shared praise for the last-minute reversal. The shift in fees is hugely confusing to the American public, however, and some people feel let down by the court system once again benefitting the mega-rich.
Ahead of the March 25 ruling, Trump was expected to offer up a massive $464 million in bond, and — had he missed the looming deadline — his assets would have been at risk while he continued to appeal the court’s decision. With the fresh decision, Trump has 10 days to pay the heavily-reduced bond, but that doesn’t change the initial ruling. He still owes more than $450 million, he just has far more time to get the money together.
The most likely reason behind the reduction in bond is straightforward: Trump simply didn’t have the money to pay. Had he failed to meet bond, the courts would have been free to begin seizing assets, but the process would have been costly, lengthy, and frustrating. The new ruling essentially guarantees payment and allows the courts to spend their time and money litigating, rather than liquidating businesses.
It’s a frustrating shift in what initially seemed to be a long-overdue punishment, but it doesn’t change the ultimate price of Trump’s misdeeds. Just because he has to pay less in bond doesn’t mean he owes less overall, and that’s before he’s even finished in the courtroom. Trump continues to face mounting legal pushback, and even more fees will likely join those that he presently owes. The decision to reduce the bond as a means to ensure Trump pays may not be popular, but it is effective, and it should see Trump provide his first $175 million much sooner than initially expected.