Trump posts $175 million bond in New York civil fraud case

Trump posts $175 million bond in New York civil fraud case

Trump posts $175 million bond in New York civil fraud case

In his New York civil fraud case, Donald Trump deposited a $175 million bond, temporarily suspending the collection of the over $454 million he owes in the case.

Donald Trump, the ex-president, has put up a $175 million bond in his New York civil fraud case. This move prevents seizing Trump’s assets during the appeal process.

The bond prevents New York Attorney General Letitia James from collecting the $355 million, plus interest, ordered by a state judge after a lengthy trial against Trump.

Trump’s economic support

The previous week, a New York appeals court granted the ex-president a 10-day period to provide the funds, following the agreement of a panel of judges last month regarding the initial $454 bond payment he was obligated to make.

In the New York Civil Fraud Case, Trump’s lawyer Alina Habba confirms President’s Bond Fulfillment Pledge. He eagerly anticipates defending his rights during the appeal process and overturning this unjust verdict,” she added.

Trump’s legal team had expressed their concerns, stating that it was practically impossible to find an underwriter who would approve a bond for the $454 million, along with the accrued interest, that he is indebted.

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Trump Properties: Temporarily Safe

For now, a bond protects Trump’s properties, preventing New York Attorney General Letitia James from pursuing them. These properties include Trump Tower, his expansive resort and golf course in Westchester spanning 370 acres, and his luxurious Mar-a-Lago estate in Florida.

Trump is currently attempting to overturn a judge’s ruling from February, which stated that he had lied about his wealth by inflating his true net worth on annual financial statements. Allegedly, the ex-president engaged in this deception to mislead banks and financial institutions.

Despite these accusations, the former president vehemently denies any wrongdoing and argues that the financial statements underestimate his true wealth.

In a recent development, Trump posted a bond of $91.6 million to cover the money he owes to writer E. Jean Carroll. Juries had previously found him guilty of sexually assaulting her in the 1990s and defaming her when she publicly shared the allegation in 2019.

However, Trump continues to deny all of these allegations.

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