Legal analyst Andrew Weissmann argues that a recent ruling by a New York appeals court, which significantly reduced the bond amount for former President Donald Trump, indicates a lack of trustworthiness on his part. In contrast, Trump celebrated the decision as a major victory.
The appeals court has recently decreased the bond in Trump’s civil business fraud case from over $450 million to $175 million. In addition, they have granted the former president an extra 10 days to gather the necessary funds for the bond payment.
The order has also put a halt to the enforcement of the previous decision made by New York State Supreme Court Justice Arthur Engoron. This decision aimed at temporarily prohibiting Trump, his two eldest sons, and other defendants in the case from engaging in any business activities in the Empire State.
The court, however, upheld Engoron’s ruling that mandates the presence of an independent monitor to supervise Trump’s businesses. Additionally, a director of compliance will be appointed to ensure that the businesses adhere to the conditions imposed following Trump’s conviction for business fraud.
“The court has denied the motion in its entirety, which means that there will be no stay of enforcement for the parts of the judgment that extend and enhance the role of the Monitor and direct the installation of an Independent Director of Compliance,” concludes the final sentence of the order.
In a recent post on X, formerly Twitter, Weissmann, who served as the FBIT’s general counsel, expressed his intrigue over the decision to retain the monitor and compliance director, suggesting that the defendants may not have gained the complete trust of the appellate court.
“It is intriguing to note that the enhanced monitor and compliance provisions have not been stayed, signaling a lack of trust in Trump and the other defendants,” Weissmann commented.
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In a recent post on Truth Social, President Trump expressed his disagreement with the appeals court ruling. He stated that the decision has shattered the credibility of Judge Engoron and New York Attorney General Letitia James. Trump also criticized the original decision, calling it ridiculous and outrageous.
According to James, the former president and his co-defendants are still being held accountable for what is being referred to as a “staggering fraud.” He emphasized that the $464 million judgment, along with any accrued interest, against Donald Trump and the other defendants remains in place.
Despite Trump’s assurance that he would adhere to the appeals court ruling and pay the reduced bond amount, there remains the possibility of James freezing his assets and taking possession of his iconic New York properties if he fails to meet the deadline of 10 days.
Earlier this month, Donald Trump accomplished the task of securing a bond exceeding $90 million as he initiated an appeal in the defamation case filed by E. Jean Carroll. In the event that the former president doesn’t emerge victorious in his appeals, he will still be held accountable for the entire sum of civil judgments against him.
