Former RNC chair: Trump bond decision ‘makes absolutely no sense’

Former Republican National Committee (RNC) Chair Michael Steele criticized the New York appeals court’s decision to pause enforcement of the multimillion-dollar judgment against former President Trump and his company over deceitful business practices.

In a terse Monday order, a five-judge state appeals court panel said it would delay the enforcement of the $464 million judgment against Trump, the Trump Organization and top executives, with interest, if they post bond within 10 days. The bond amount was also slashed by more than half.

“Yet again, @realDonaldTrump gets special treatment with his own private system of justice,” Steele, a regular critic of Trump, said in a post on social media.

“The NY Appeals Court has decided to give Trump more time to pay less money by reducing his bond from $454M to $175 and giving him 10 days to get the money,” he continued. “This makes absolutely no sense.”

The pause comes after Trump’s lawyers said last week that, despite “diligent efforts,” it would be “impossible” for the former president to secure the full appeals bond because of a lack of cash on hand.

While Trump recently said on Truth Social he has nearly $500 million on hand — and he told state lawyers last year in depositions he had “substantially in excess of $400 million in cash” — his lawyers say he is facing a liquidity problem. Trump was also recently forced to pay a $91 million appeal bond in writer E. Jean Carroll’s defamation case.

The Monday appeals court order also paused the enforcement of other penalties, including barring Trump and top executives from serving in top leadership positions in New York businesses for multiple years. 

The order did not pause the installation of an independent monitor and director of compliance to keep an eye on the Trump Organization’s business dealings.