Trump posts reduced $175 million bond in NY civil fraud case, "We look forward to vindicating our rights on appeal"
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Quick Hit: 

Former President Donald Trump has posted a $175 million bond to prevent New York authorities from potentially seizing his properties—including Trump Tower—pending an appeal of a civil fraud judgment against him. The bond was necessary to halt New York Attorney General Letitia James from proceeding with legal steps to take over his properties.

Key Details: 

  • Trump posted the bond following a civil fraud judgment against him of nearly half a billion dollars.
  • The bond was reduced from over $450 million to $175 million by an appellate court panel, on the condition that it was posted within 10 days and the appeal filed promptly.
  • If the appeal is unsuccessful, Trump will still owe more than $450 million from the civil court judgment.

Diving Deeper: 

After a 10-week trial last year, New York Supreme Court Justice Arthur Engoron found Trump, the Trump Organization, and Trump's sons liable for using illegal tactics to knowingly cheat business partners to increase the company's profits and savings. Trump's lawyers argued that he was unable to post a bond of more than $450 million, primarily because about 30 surety companies he consulted with would not accept his real estate as collateral, only liquid assets.

In a decision last week, an appellate court panel reduced the size of the bond he would have to post to $175 million on the condition that he post it within 10 days and that he file his appeal of Engoron's verdict in a timely fashion. If he does not win his appeal, Trump will still owe more than $450 million from a civil court judgment after James won the fraud case against him, alleging he deceived lenders and insurance companies by inflating his net worth by up to $2.2 billion annually from 2011 to 2021.

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