Trump posts $175m bond in civil fraud case and averts asset seizures

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Trump posts $175m bond in civil fraud case and averts asset seizures

In his New York civil fraud case, Donald Trump secured a $175 million bond on Monday, preventing state authorities from seizing any assets that may have hindered the former US president’s commercial empire.
On February 16, Trump—who will run against Joe Biden in the US presidential election in November—was found guilty of deceitfully exaggerating his net worth by billions of dollars to obtain better conditions on a loan and insurance.

Originally, Trump was required to deposit a $454 million bail; but, on March 25, an appeals court suspended the enforcement of Justice Arthur Engoron’s ruling, requiring Trump to make the lower payment within ten days.
Trump’s appeal will be heard on its merits by an appeals court panel of three judges. The decision by the appeals court to lower the bond does not necessarily portend the panel’s final decision.

The bond stops Letitia James, the attorney general of New York, from pursuing any of Trump’s holdings, which include Trump Tower, his 370-acre Westchester resort and golf course, and his Florida estate Mar-a-Lago.
James, a Democrat who sued Trump in 2022, has accused Trump of political witchcraft and has denied any involvement.

For ten years before entering politics, Engoron detailed in a 92-page order, Trump’s deputies’ instructions to alter the prices of his assets to reach his targeted net worth.

This case is just one of many legal issues that Trump is dealing with; another is a criminal trial in New York that is scheduled to start on April 15. In that instance, Trump—who has entered a not guilty plea—is charged with unlawfully concealing payments of hush money to a porn star prior to the 2016 election.

In addition, he faces charges in two instances for attempting to reverse his defeat to Biden in the 2020 race and in a third case for his handling of confidential documents after leaving government.

 

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