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

Former US President Donald Trump posts $175 million bond in his New York civil fraud case, sidestepping the initial $454 million penalty

A court document released on Monday revealed that former U.S. President Donald Trump has posted a $175 million bond in his New York civil fraud case, sidestepping the initial $454 million penalty while his case goes through the appeals process.

Last week, a New York appeals court lowered the bond payment from $454 million to $175 million, giving Trump a 10-day period to make the payment.

The substantial decrease in the bond payment eases worries that New York authorities could take possession of Trump’s assets if he were unable to fulfill the obligation. This recent development is a significant relief for the former president, granting him some much-needed respite in the ongoing legal proceedings.

Trump expressed his respect for the court’s decision, stating that he would promptly provide the required $175 million in cash, bonds, or any other necessary form of security within the given timeframe.

The bond has been secured by Knight Specialty Insurance Company, a California-based entity, as stated in a document released by the court on Monday.

Trump, a 77-year-old real estate tycoon who has once again secured the Republican nomination, was fined a substantial amount by Judge Arthur Engoron as the judge found him and his two adult sons guilty in a non-jury trial.

The ruling determined that Trump, along with his family company, had been involved in deceit by supplying inaccurate information regarding the worth of assets, thus leading banks and insurers astray.