Update: NBC’s Lisa Rubin posted a correction. The court did stay the borrowing provision. The story has been updated to reflect corrected source information.
When I’m wrong, I say I’m wrong, & I read too quickly. The court DID stay the provision barring Trump & his companies from borrowing from financial institutions registered or chartered by NY’s Department of Financial Services. Trump now has to post less & can borrow $ more… https://t.co/N37Cl8Intu
— Lisa Rubin (@lawofruby) March 25, 2024
An appeals court reduced Trump’s fraud bond and gave him more time to pay, but it was still a loss for Trump.
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NBC News’s Lisa Rubin posted:
NEW: Yes, Trump got his bond in the civil fraud case reduced to $175 million. But guess what? The court denied his motion to stay the provision of the judgment forbidding him from borrowing from financial institutions registered or chartered in NY state. 1/ pic.twitter.com/Rps2PCFPPa
— Lisa Rubin (@lawofruby) March 25, 2024
An appeals court did reduce the bond to $175 million, but the former president was only given ten additional days to come up with the money. The real kick in the pants for him is that he is still banned from borrowing the money from any institution that does business in the state of New York.
The provision of the ruling that went against Trump:
p.s. This is the provision of the judgment I’m referencing: pic.twitter.com/v8nYUuVCbo
— Lisa Rubin (@lawofruby) March 25, 2024
This means that Donald Trump may be able to borrow the money, even though he claims it will be paid in cash.
During an appearance on Fox News, Eric Trump suggested that the bond should be $10 million, and when Trump tried to negotiate the amount of the bond down, he offered $100 million, which indicates that Donald Trump doesn’t have $175 million in cash sitting around.
Donald Trump has been trying to find someone to give him the money for the last month, but he has gotten nowhere, so it is doubtful that he will suddenly find $175 million stashed behind the classified documents he might still be hiding at Mar-a-Lago.
It is a win that he got the bond amount reduced, and that he can borrow more, but even though Trump claims that he will pay the $175 million in cash, given the former president’s history of lies, seeing is believing.
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