George Conway, a well-known lawyer and legal analyst who has been openly critical of President Trump, suggested on Monday that New York Attorney General Letitia James might find some satisfaction in Donald Trump’s recent appellate court ruling, which reduced his bond amount.
In February, Trump faced a significant penalty when he was held responsible in a civil fraud suit filed by James and her office against him and The Trump Organization. The suit alleged that Trump had engaged in a long-term scheme to exaggerate his net worth and the value of his assets to obtain more advantageous business loans. The penalty, currently exceeding $450 million with interest, required Trump to obtain a bond slightly higher than this amount by Monday to proceed with an appeal of the ruling.
According to reports and court filings, Trump faced challenges in obtaining the required amount due to the hefty penalty imposed on him. More than 30 surety entities turned down his request for bond coverage. Last week, Trump’s legal team appealed to a New York court, seeking permission to pay a significantly reduced bond. In a favorable ruling on Monday morning, the court granted his request, enabling him to pursue an appeal with a bond of only $175 million. Trump now has an additional 10 days to provide the bond.
According to Conway, one of the co-founders of the Lincoln Project anti-Trump political action committee, there is a possibility that James might find success in the appellate court’s decision, despite the fact that it allows Trump to delay enforcement or potentially overturn the penalty against him.
Conway expressed his satisfaction with the Appellate Division’s order that reduced Trump’s bond to $175 million. From the perspective of the NYAG’s office, Conway believed that this decision was beneficial. He explained that this reduced bond amount would guarantee the State of New York the ability to collect at least $175 million if it won the appeal. This would eliminate the need to track down Trump’s assets across the country, a process that would be time-consuming, expensive, and challenging for the lawyers involved.
In a subsequent post, he further commented, “It is important to note that this assumption is based on Trump’s ability to provide the $175 million. However, if he is unable to do so, the State will not be at a disadvantage as it would have had to pursue Trump for the entire sum regardless.”
In response to Conway’s second post, Trump has expressed his intention to promptly pay the appeal bond.
In spite of the alleged difficulty the nearly half-a-billion dollar bond posed for Trump, he recently stated that he has $500 million in cash readily available. However, he clarified that these funds would be exclusively used for his ongoing presidential campaign.