Judge agrees to reduce Trump fraud bond to $175m

A JUDGE in New York has granted Donald Trump's request to pause his $464m (£365m) fraud judgement, giving him 10 days to put up a reduced sum of $175m.

The former president's legal team had previously said he was unable to secure a bond from a private company for the full amount.

He had originally faced a deadline of Monday to put up the $464m bond.

If he had failed to do so, the authorities in New York could have started to seize his bank accounts and properties.

But on Monday, he was granted a last-minute reprieve by an appeals court. "I greatly respect the decision," he said. "We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash."

If he pays the reduced $175m bond, it would delay enforcement of the fraud judgement and protect his assets while he continues his appeal.

The appeals court also agreed to delay the enforcement of other penalties that were part of the original judgement, such as barring the former president and his elder sons from running businesses in New York.

Mr Trump was found liable earlier this year for repeatedly inflating the value of his assets.

Last week his lawyers said he had been unable to cover the $464m penalty despite approaching numerous financial companies to provide a bond.

To secure a bond, an individual has to demonstrate to the company providing the guarantee that they have enough liquidity, usually in the form of cash or stocks.