In the New York civil fraud case, former President Donald Trump has posted a $175 million bond to prevent the seizure of his assets while the case is under appeal. This action follows a state appeals court ruling that Trump and his co-defendants had 10 days to post the amount, which was reduced from the initial $464 million judgment. Trump’s attorney expressed confidence in overturning the verdict on appeal.
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Former U.S. President Donald Trump speaks after attending a wake for New York City Police Department (NYPD) officer Jonathan Diller, who was shot and killed while making a routine traffic stop on March 25 in the Far Rockaway section of Queens, in Massapequa Park, New York, U.S., March 28, 2024.
Shannon Stapleton | Reuters
Former President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing seizure of his assets while the case is on appeal.
The bond comes after a state appeals court ruled last week that the former president and his co-defendants had 10 days to post the amount, which was reduced from the $464 million judgment that was originally due March 25.
Before last week’s ruling, Trump was liable for $454 million, most of the fraud judgment, but the amount he owed had been growing by more than $111,000 daily due to added interest.
Trump attorney Alina Habba said Monday that the former president would be vindicated on appeal.
“As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” Habba said in a statement.
If Trump doesn’t win on appeal, he will have to pay more than $450 million from a judgment stemming from New York Attorney General Letitia James’ fraud case.
A judge found that Trump and top executives at the Trump Organization had intentionally engaged in a scheme to improperly inflate his assets in financial statements that enabled him to claim favorable loan and insurances rates that were not entitled to him.
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Commonly Asked Questions:
What is the New York civil fraud case against former President Donald Trump about?
The New York civil fraud case involves allegations of fraudulent practices by Donald Trump and top executives at the Trump Organization. It centers on claims that they intentionally inflated Trump’s assets in financial statements to obtain favorable loan and insurance rates.
Why did Donald Trump post a $175 million bond?
Donald Trump posted a $175 million bond to prevent the seizure of his assets while the case is on appeal. This action followed a state appeals court ruling that required him to post the bond within a specified timeframe.
What was the original judgment amount in the New York civil fraud case?
The original judgment amount in the New York civil fraud case was $464 million, with Trump being liable for $454 million of that sum. However, the amount was reduced to $175 million for the bond pending appeal.
What happens if Donald Trump loses the appeal in the fraud case?
If Donald Trump loses the appeal in the fraud case, he will be required to pay more than $450 million as per the judgment. This amount stems from the findings of the court regarding fraudulent activities related to inflating Trump’s assets.
Who is representing Donald Trump in the New York civil fraud case?
Donald Trump is represented by his attorney, Alina Habba, who has expressed confidence in overturning the verdict on appeal and vindicating Trump’s rights.
