Trump's bond in NYC civil fraud case slashed from $454M to $175M
New York companies were 'legitimately alarmed' by 'absurd' Trump bond: Jonathan Turley
Fox News contributor Jonathan Turley joined 'The Faulkner Focus' to discuss his reaction to Trump's bond being slashed to $175 million in the NYC civil fraud case.
Fox News contributor Jonathan Turley reacted Monday to former President Trump's bond being slashed to $175 million in the New York City civil fraud case, calling the original $454 million amount "absurd." Turley called the bond change a needed "restraint" to the legal system in New York, warning the "political vortex" hasn't played well with voters or companies.
JONATHAN TURLEY: The Court of Appeals may have felt that they can't prejudge the evidence, and so to reduce the bond further would have been heavy-handed. I actually think they could have reduced this bond to virtually nothing, because the amount set by Engoron was absurd... There were no victims. There was no money lost. You had people that loaned this money and wanted more business, and so this figure seemed to be just snatched out of the air. He connected it to a few properties, but it was very speculative by reducing the amount…
I think that this restores some element of restraint to the New York legal system. So I think that the true sunk costs of this controversy has been borne by those who really wanted this thrill-kill moment... This has not played well with the public. I don't think it's played well with companies, who were legitimately alarmed to see that the New York legal system turned into this inescapable political vortex, and I think that the reduction will help assure people that there are still some adults in the room.
An appeals court slashed former President Trump's bond payment on Monday, saying Trump must pay $175 million within the next 10 days.
Trump had previously faced a Monday deadline to pay a $454 million bond payment that came as a result of civil fraud allegations from New York Attorney General Letitia James.
A New York Appeals Court, hours before the deadline to post the $454 million, lowered that bond considerably. The court ordered that Trump post $175 million within 10 days.
Trump said he will "abide" by the appeals decision and post the $175 million bond.
If Trump does post the $175 million by the new deadline, it would effectively block James from attempts to seize Trump's assets as he continues to appeal the judgment by New York Judge Arthur Engoron.
New York State Attorney General Letitia James speaks during a news conference at her office in New York. (AP Photo/Richard Drew, File) (AP Photo/Richard Drew, File)
TRUMP BARRED FROM OPERATING BUSINESS, ORDERED TO PAY OVER $350 MILLION IN NY CIVIL FRAUD CASE
"Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him - A very bad situation in which to place New York State and the Rule of Law! Engoron has disrespected the Appellate Division and its very clear and precise ruling," Trump posted on his Truth Social Monday. "He should be made to do so, and at the same time, release the GAG ORDER."
Trump said the appeals ruling Monday is "the 5th time in this case that he has been overturned, a record."
Trump blasted Engoron, saying "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 said. "This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million."
Fox News' Brooke Singman and Anders Hagstrom contributed to this report.
This article was written by Fox News staff.
