| Trump goes to court (again): Former President Donald Trump will appear in a Manhattan court today to “seek another delay of his criminal trial on charges that he covered up a sex scandal that could have derailed his stunning victory in the 2016 presidential election,” per The New York Times.
There was a recent delay in this case, after new evidence was made available and the judge decided that Trump’s lawyers needed a 30-day extension to review it. (Trump asked for either a 90-day extension or a thrown-out case.)
But Trump is also facing imminent financial trouble, from needing to either settle up in the civil fraud case—also in New York—or go the appeals route, which would require him to secure a half-billion-dollar bond. If Trump does not secure that bond, the state attorney general, Letitia James, will most likely start freezing Trump’s bank accounts and seizing some of his assets. (He already secured a $91.6 million bond needed for another case—the defamation suit brought by E. Jean Carroll—but is struggling to do so for this much larger amount.)
Appeal bonds, like the one Trump is seeking, are “document[s] in which a company guarantees the. judgment, plus interest, should [a client] lose his appeal and fail to pay,” says the Times. “Mr. Trump would need to pledge significant collateral to a bond company—about $557 million, his lawyers said—including as much cash as possible, as well as stocks and bonds he could sell quickly.” He would also incur a roughly $20 million fee owed to the bond company. |
