by Ben Whedon
Former President Donald Trump on Monday officially posted a $175 million bond in his New York civil fraud case, preventing state Attorney General Letitia James from seizing his assets while he appeals the verdict.
James originally sued Trump alleging that he had manipulated the value of his assets to secure favorable loan terms and lower insurance premiums. New York Judge Arthur Engoron found in summary judgement before trial that Trump could be held liable for fraud. He eventually imposed nearly $355 million in penalties as well as roughly $100 million in interest.
The merits of Trump’s appeal will be heard by a three-judge panel of the appeals court, Reuters reported.
His payment of the bond comes after the New York appeals court last month reduced the sum from $464 million and permitted Trump and his sons to continue operating their business in the Empire State while the appeal progresses. Engoron’s order had also barred Trump from serving as an officer in a New York-based company for three years.
Trump had previously sought to pay a $100 million bond, though the court rejected that amount. He later indicated he was unable to obtain a bond for the full sum.
The uncertainty over Trump’s ability to pay the appeal bond had led James to pursue the seizure of his New York assets, filing judgements last month in Westchester County, the first step toward taking his Seven Springs golf course and private estate.
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Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.
Photo “Donald Trump” by Gage Skidmore CC2.0.
