Trump hush-money trial date set for 15 April

reuCopyright: reu

It’s been a busy day on the Trump legal beat. Here’s a recap of the major developments

• Donald Trump’s hush-money trial is set for 15 April, when jury selection will begin. It will be the first criminal trial of a former US president
• The judge overseeing the case, Justice Juan Merchan, rejected Trump’s efforts to delay further due to a last-minute tranche of documents from federal authorities. His lawyers had accused the Manhattan district attorney’s office of misconduct for not turning over the documents sooner, but their arguments fell apart under tough questioning from Justice Merchan
• Meanwhile, Trump did get a big reprieve in his civil fraud case. A New York appeals court significantly lowered the bond amount that Trump would have to pay to delay the judgement in his civil business fraud case while he appeals. Trump had failed to secure a bond for the original $464m (£365) penalty, but the appeals court said he only had to secure a $175m bond and had 10 more days to pay
• Trump railed against prosecutors and President Joe Biden, calling the court cases a “hoax” and alleged it was “election interference”

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The editors of this page were Brandon Livesay and Tiffany Wertheimer. The writers were Kayla Epstein, Nada Tawfik, Madeline Halpert and Brandon Drenon.

If Donald Trump had failed to post the bond for $464m (£365m) - and the court had not granted him an extension - his bank accounts could have been immediately frozen.

New York Attorney General Letitia James would just need to send restraining notices to his banks and brokerage firms to freeze his accounts.

“That’s easy and quick,” Randy Zelin, an adjunct law professor from Cornell Law School, said.

“As soon as the bank gets that restraining notice they will shut those accounts down.”

The next step would be for the attorney general’s office to send the banks and brokerage firms a turnover notice, signed by the judge.

After that, Zelin said the process is exactly what it sounds like: “[The banks] turn over the money.”

He explained the timeline between sending a restraining notice and sending a turnover notice that would empty out Trump’s bank accounts could happen quickly.

“As quickly as the [prosecutor’s office] wants to work,” he said.

Hypothetically, it could happen in just a few days, Zelin agreed.

For now Trump's bank accounts and assets are safe - he has a further 10 days to pay a lesser amount of $175m.

Trump has just finished speaking to reporters for nearly a half hour.

During that time, he aired a host of grievances about his New York and other criminal cases.

He also took questions from reporters.

When asked how he would put a now $175m bond in his fraud case, Trump said: "I don't need to borrow money - I have a lot of money."

He also claimed he would get the date in his hush money trial moved - today it was set for 15 April.

For now, his hearing in New York is over for the day.

We just heard from Todd Blanche, one of Donald Trump's lawyers, who spoke after a 10-minute monologue from the former president.

Blanche says starting the trial anytime before the election is "completely unfair".

"April 15 is not a date we should go to trial, and we're going to continue to fight," he says.

Trump is now taking questions from reporters.

ReutersCopyright: Reuters

Trump is repeating some of his many talking points, speaking to reporters at one of his New York properties, 40 Wall Street.

He claims are, as he has said in the past, that his court cases amount to election interference, with "Biden and his thugs" conspiring against him.

Trump is also taking aim at a host of other New York figures - including New York Attorney General Letitia James and Judge Arthur Engoron.

James brought the civil fraud case against Trump, while Engoron found Trump liable of business fraud, fining him hundreds of millions of dollars.

Trump claims that that case - and the hush-money trial - are a "hoax".

"It's a sad day in our country," he says, while thanking an appellate court for reducing a bond amount he has to put up to cover his fraud fine.

The former president is addressing the media after an important day in court - click the play button at the top of the page to watch live.

Getty ImagesCopyright: Getty Images

Trump has been granted some relief after arguing to New York courts that no company would insure a $464m (£365m) bond on his behalf.

To secure a bond, which is a kind of promise to pay money in the future, an person has to demonstrate to the company providing the guarantee that they have enough liquidity, usually in the form of cash or stocks.

Now, Trump has to provide assurance that he has access to $175m.

Based on Trump's own statements, it seems like he should be able to do so.

The former president told a court last year he had $400m in liquid assets, and last week, he claimed to have $500m in cash.

He also managed to secure a bond last month for $91m in a separate civil case brought by writer E Jean Carroll.

A news conference will be held in about 10 minutes - stay with us for the latest developments.

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It's been an important day in court for Donald Trump - here's the latest:

• He will face his first (of four) criminal trials on 15 April. That trial is in connection to so-called hush money paid to adult film actress Stormy Daniels, who claims she had sex with Trump before he was president
• It will be the first time in history that a US president - former or current - has faced a criminal trial
• Separately, Trump has been granted an extension to pay a $464m penalty in his civil fraud case in New York
• Monday was the deadline, and if he failed to post a bond for the full amount, his assets could have been seized, including Trump Tower in New York and the Mar-a-Lago club in Florida
• Now, he has 10 days to post a bond for a lower amount - $175m
• It is a partial victory for Trump, and makes his most prized assets safe - for now

BBCCopyright: BBC

Here outside the court, it’s been a pretty frosty morning for March.

Despite layers of warm clothing, my colleagues and I can’t feel our limbs.

We all know the drill for Donald Trump’s court appearances now.

A bunch of media cameras line the sidewalk outside the court within the NYPD press barricades - as police keep a watchful eye on passers-by.

We haven’t seen any major protests so far.

Earlier I saw a woman wearing a sweatshirt that read “Bring Trump Down” - again not an unfamiliar sight near New York courts on days like this.

ReutersCopyright: Reuters

Donald Trump is speaking outside the courtroom.

He says "we will be appealing this", and that he believes the hush-money case is "election interference".

EPACopyright: EPA

Court is back for the hush-money case, but let's stick with this breaking news for a moment regarding Trump's civil fraud case.

After an appeals court gave him an extra 10 days and reduced the amount owed (for a bond while the ruling is appealed) to $175m, we heard from New York Attorney General Letitia James.

Quote Message: Donald Trump is still facing accountability for his staggering fraud. The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization. The $464m judgment – plus interest – against Donald Trump and the other defendants still stands.”

Donald Trump is still facing accountability for his staggering fraud. The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization. The $464m judgment – plus interest – against Donald Trump and the other defendants still stands.”

And Trump also issued a statement, saying he did nothing wrong and:

Quote Message: We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash."

We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash."

Recess is over and Trump is back in the courtroom.

He got some good news during the break. An appeals court had given him a slight reprieve in paying his bond in a separate civil fraud trial (unrelated to today's hearing).

He spoke briefly to reporters waiting outside the courtroom, saying he respected the decision to reduce the sum and thanked the appeals court for making a fast decision.

His expression remained stern as he strode back into court.

Some legal experts are surprised that a judge has granted Trump somewhat of a victory in his fraud case.

Instead of finding $464m, the former president now has to post a bond for $175m.

The middle-of-the-road option is a "win for Donald Trump", says University of Michigan business professor Will Thomas.

"This strikes me as the kind of equitable compromise that makes sense if you don't think too hard about it," he said.

Now, if Trump posts bond within 10 days, his assets are safe until the end of appeal.

"If not, I would not expect the Appellate Division to give former president Trump any further relief," says Mitchell Epner, an attorney who handles commercial litigation.

Getty ImagesCopyright: Getty Images

Donald Trump had been facing the prospect of forking over nearly half a billion dollars today.

But now he has been given 10 more days, and that sum has been reduced down to $175m.

Trump had struggled to come up with $464m in cash, and last week said no private companies had been willing to put up a bond of that size.

With the 10 day extension and a lower amount, his assets are safe from being seized by the state of New York - for now.

This lifeline means Attorney General Letitia James will not be trying to freeze Trump's bank accounts today, and will not be making moves to seize any of his property just yet.

Both of those outcomes were possible before this new decision from an appeals court judge.

The $464m penalty was issued by a judge earlier this year in a civil trial, which found Trump inflated his net worth to secure better deals on loans.

After asking a series of questions of both the DA's office and Trump's team, Justice Merchan appears very sceptical of Blanche's argument that prosecutors acted unethically.

“It’s odd that we’re even here and that we’ve taken this time," he said, before adjourning for a break.

Justice Merchan has emphasised that Trump's lawyers' allegations are serious, but he seems less convinced of their merits after more than an hour of back and forth.

The judge has called a recess and court will take a break for the next 45 minutes.

Stay with us as we bring you the latest developments.