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BBC HomepageSkip to contentAccessibility HelpYour accountNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityWorldAfricaAsiaAustraliaEuropeLatin AmericaMiddle EastUS & CanadaTrump posts $175m bond in New York fraud casePublished1 hour agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesImage caption, Donald Trump attends his New York business fraud trial.By Kayla EpsteinBBC NewsFormer US President Donald Trump has posted a $175m (£140m) bond in his New York civil fraud case, staving off asset seizures by the state.Mr Trump was originally ordered to pay the full $464m judgement against him, but an appeals court said he could pay the smaller sum within 10 days.He was found in February to have fraudulently inflated property values. The Republican denies wrongdoing and says the case is a political witch hunt by the Democratic prosecutor.Last month, in addition to ordering Mr Trump to pay a significant financial penalty, Justice Arthur Engoron barred him from running a New York business for three years.He was also prohibited from getting loans from New York financial institutions for three years.The ruling placed Mr Trump, who has said in depositions and on social media that he has $400m or $500m in cash on hand, under a serious financial crunch. Forbes Magazine currently estimates his net worth at $6.4bn – it more than doubled after the parent company of his social media platform Truth Social went public last week.Around the same time a judge found him liable for fraud, Mr Trump had to secure a $91m bond after losing an unrelated defamation case brought by the writer E Jean Carroll.To delay enforcement of the penalty while he appealed the civil fraud case, Mr Trump initially sought a bond from 30 companies but was unable to secure one, his lawyers wrote in court filings. The appeals court reduced the amount he would need to post last week.Mr Trump has appealed against Justice Engoron’s ruling, and the higher court has suspended the ban on Mr Trump’s ability to run a business and get loans while they consider the matter. It could take months, or longer, for the appeals court to decide the case.In the meantime, Mr Trump’s first criminal trial – over his alleged attempt to fraudulently conceal hush-money payments to an adult film star ahead of the 2016 election – is scheduled to begin on 15 April in Manhattan. Related TopicsDonald TrumpMore on this storyTrump wins reprieve as judge cuts fraud bond to $175mPublished25 MarchKey findings in Trump’s ‘overwhelming’ fraud trial lossPublished17 FebruaryA guide to Trump’s four criminal casesPublished25 MarchTop StoriesLive. Senior Iranian commander killed in Israeli strike, Iran state media saysIsraeli strike destroys Iranian consulate in Syria, says Iran state mediaPublished3 hours agoTrump posts $175m bond in New York fraud casePublished1 hour agoFeaturesWhy there’s a revolution on the way in glass makingThe Papers: ‘Iran general killed’ and ‘record’ boat arrivalsLulu: I don’t speak before 12 noon. I’m not lyingHow to solve the plastic problem. VideoHow to solve the plastic problemSmoke rises from destroyed Iranian consulate. VideoSmoke rises from destroyed Iranian consulateWill legalising cannabis unleash chaos in Germany?Is my family still alive? The daily question for HaitiansThe pothole signs that put a town in the spotlight’We bought a zoo and our lives turned upside down’Elsewhere on the BBCThe ultimate bromanceEnjoy the genius of Peter Cook and Dudley Moore with a journey through the archivesAttributioniPlayerProfessor Alice Roberts unearths her favourite musicThe scientist and Digging for Britain presenter is Lauren Laverne’s castawayAttributionSoundsWhy did four tragic murders spark an online obsession?The case racked up nearly two billion views on TikTok worldwideAttributioniPlayerCaffeine: Dangers and benefitsFind out what effects this drug can have on dementia and cardiovascular diseaseAttributionSoundsMost Read1Germany kit option blocked over Nazi symbolism2Trump’s media company tumbles in stock market3Insta fans kill special places, says cave cleaner4JK Rowling in ‘arrest me’ challenge over hate crime law5Diabetes patients offered artificial-pancreas tech6’Iran general killed’ and ‘record boat arrivals’7Twenty councillors quit Labour Party in protest8French toddler’s remains found but death a mystery9Google to delete records from Incognito tracking10Lulu: I don’t speak before 12 noon. I’m not lying
[ad_1] An appeals court gave him a reprieve after he could not secure a bond for the full $464m penalty
![BBC HomepageSkip to contentAccessibility HelpYour accountLiveNotificationsHomeNewsSportWeatheriPlayerSoundsBitesizeMore menuMore menuSearch BBCHomeNewsSportWeatheriPlayerSoundsBitesizeCBBCCBeebiesFoodClose menuBBC NewsMenuHomeIsrael-Gaza warCost of LivingWar in UkraineClimateUKWorldBusinessPoliticsCultureMoreTechScienceHealthFamily & EducationIn PicturesNewsbeatBBC VerifyDisabilityBusinessMarket DataEconomyYour MoneyCompaniesTechnology of BusinessCEO SecretsArtificial IntelligenceWhy Trump may reap billions in Truth Social stock market mergerPublished1 hour agoShareclose panelShare pageCopy linkAbout sharingImage source, Getty ImagesBy Natalie ShermanBusiness reporter, New YorkDonald Trump appears to be scrambling for funds to pay a $464m (£365m) fraud fine. Could the stock market ride to his rescue? Trump Media, which runs the social media platform Truth Social, is poised to become a publicly listed company, with shareholders of Digital World Acquisition Corp set to vote on Friday on whether to acquire it. Mr Trump would have a stake of at least 58% in the merged company, worth more than $3bn at Digital World’s current share prices. Digital World, or DWAC (pronounced D-whack), is what is known as a SPAC, or a shell business created expressly to buy another firm and take it public.It’s an astonishing potential windfall for Mr Trump in exchange for a business whose own auditor warned last year it was at risk of failure. Never mind the many red flags associated with the deal, including unresolved lawsuits from former business partners. There’s also an $18m settlement that Digital World agreed to pay last year to resolve fraud charges over how the merger plan came together. Backers of Digital World – the vast majority of whom are individual investors instead of Wall Street firms, many apparently Trump loyalists – seem undaunted. “This is putting your money where your mouth is for free speech, to save your country, potentially losing it all,” Chad Nedohin, a deal supporter, said recently on his show DWAC Live, on the video platform Rumble. If the purchase is approved, which is expected, shares will start trading on the Nasdaq stock exchange under the ticker DJT.The deal is unlikely to immediately resolve Mr Trump’s most pressing financial issues, such as his New York fraud penalty. The former president is barred from selling his shares for at least six months – though the new company could grant him an exemption. Mr Trump could try to get a loan, backed by the value of the shares. But in this case, analysts said a bank would probably lend him significantly less than the shares are worth on paper, given the potential risks of the business.That hasn’t stopped some of his supporters hoping their backing will help. Mr Nedohin, who identifies himself on his website as a Canadian “worship leader” and goes by Captain DWAC on Truth Social, declined to be interviewed. But on his show this week he urged investors to approve the deal, speculating it could help the president in his legal battles. “If the merger is complete Friday at 10am and Trump all of a sudden has 120 million shares of DJT that’s worth three, four, five $10bn, who knows? He could easily leverage that to get a loan,” he said. The risk that Digital World shareholders will lose money on their investment is significant, according to analysts.Shares in the company are currently trading at nearly $43 apiece. That’s down from the highs it reached after the plans to purchase Trump Media were announced. But it still implies Trump Media has a value of more than $5bn, which is a lot given it brought in just $3.3m in revenue in the first nine months of last year and lost nearly $50m. The merger will provide an influx of more than $200m in cash to Trump Media, which it could use for growth and expansion.But for now Truth Social, which launched to the general public in 2022, branding itself as an alternative to major social media platforms like Twitter and Facebook, remains small. It claims about 8.9 million sign-ups and in regulatory filings Trump Media warns prospective investors that it does not track metrics like user growth or engagement that could give them a sense of its operations. And it says it has little intention of doing so. Outside firms estimate Truth Social received about 5 million visits in February. By comparison, Elon Musk’s X, formerly Twitter, and recently valued by one investor at about $14bn, received more than 100 million. Analysts said Digital World was a prime example of a “meme stock”, in which the share price is divorced from a company’s fundamentals – and near-destined to fall, eventually.”With Trump Media, I expect that it will collapse but whether it’s going to occur a week from now or two years from now and how rapidly … those things are really difficult to predict,” said University of Florida finance professor Jay Ritter, who tracks public listings. Marco Iachini, senior vice-president of research at Vanda Securities, said individual investors piled into Digital World stock after the Trump deal was announced, and again in January, after he won the Iowa primary. This week, he said there’s been less activity, a sign that professional firms may be the ones driving the trading. Whatever is motivating buyers, Mr Trump, whose main contributions to Trump Media have been his name and posts on the platform, appears poised to be the top beneficiary. “It’s an enormous transfer of value from [investors]… to Trump, which stands to be extremely lucrative for him,” says Michael Ohlrogge, a law professor at New York University who has studied listings of companies such as Trump Media. Related TopicsMergers and acquisitionsInternational BusinessDonald TrumpUnited StatesMore on this storyTrump needs a $464m bond. 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