Donald Trump Posts $175 Million Bond In New York Civil Fraud Case, Securing Assets From Seizure
An appeals court had reduced the bond amount to be posted by Donald Trump from the original $454 million dollars to $175 million dollars in the New York civil fraud case.
Former US President Donald Trump averted the seizure of his assets as he posted a $175 million bond on Monday in his New York civil fraud case, reported Reuters. The Republican US presidential candidate was found liable in February for fraudulently inflating his net worth by billions of dollars to secure better loan and insurance term.
Trump had to originally pay $454 million but the enforcement was stayed by an appeals court last month on March 25 on condition that he pay the smaller amount within 10 days.
Trump's appeal on the merits will be heard by a three-judge panel of the appeals court. The appeals court ruling reducing the bond is no indication of how the panel will ultimately rule, the report added.
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With the payment of bond, Trump has secured his assets from being seized by New York Attorney General Letitia James which includes Trump Tower, his 370-acre resort and golf course in Westchester and his Mar-a-Lago estate in Florida.
The Republican candidate who is set to face Democratic President Joe Biden in the November US polls denied his wrongdoing and alleged that the case is a political witch hunt by James, a Democrat who sued him in 2022.
In a 92-page order, Justice Enogron stated how Trump directed deputies to manipulate the values of his properties to arrive at his desired net worth for a decade before he entered into politics.
Trump is facing a series of cases including a criminal trial in New York which will start on April 15 in which it is alleged that he illegally covered up hush money payment to an adult film star ahead of the 2016 elections. Trump has denied the allegations.
He is also accused in two cases for trying to overturn his 2020 election loss to Biden while another one pertains to handling of his classified documents upon leaving the office. Trump has pleaded guilty in all of these cases.
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