US court allows Trump to post smaller bond to pause civil fraud judgment

A New York court has agreed to significantly reduce the amount of a bond former US President Donald Trump is required to post in a bid to pause a civil fraud judgement that ordered him to pay over 454 million dollars.

A New York State appeals court ruled on Monday that the seizure of Trump's assets will be held off if he puts up a smaller 175-million-dollar bond within 10 days. The original size of the bond was the same as the penalty or more.

After the ruling, Trump told reporters that he respects the court's decision and would post the bond soon in cash or securities.

The New York attorney general had filed a lawsuit against Trump, claiming that the business entity Trump ran before taking office as president overstated its net worth and profited unfairly for about a decade.

Last month, Trump was ordered to pay nearly 355 million dollars plus interest as a penalty. The sum has reached more than 454 million dollars, including interest.

Trump appealed the ruling. But to avert the possible seizure of his assets, he had to post bond by Monday. Trump's lawyers had pleaded for the appeals court to halt the seizure, noting that the bond was set too high.

US media outlets say the former president is apparently suffering from a cash crunch due to the multiple lawsuits he is facing. They say the ruling is a crucial victory for him.