Appeals court slashes bond amount in legal win for Trump

A New York appeals court slashed the amount of the bond Donald Trump must post to cover a $454 million civil fraud judgment Monday.

The ruling reduces the bond to just $175 million to stave off enforcement of the judgment until the appeals process is finalized. The court gave the former president 10 days to post the bond, reported Bloomberg Law.

Trump had faced a deadline Monday to put up a bond amounting to 120 percent of the judgment plus interest, which would have been nearly $545 million. New York Attorney General Letitia James was preparing to start seizing his properties to satisfy the court order if he didn't pay.

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So long as he pays the $175 million, Trump can now appeal the judgment without James seizing his assets.

New York Supreme Court Judge Arthur Engoron imposed the penalty last month after finding Trump liable for habitually falsifying financial statements in order to obtain better terms on bank loans.