Sat. Apr 13th, 2024

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

By 37ci3 Apr2,2024

Former president Donald Trump He posted a $175 million bond in a New York civil fraud case, preventing his assets from being seized while the case is on appeal.

Bond is granted after a state appeals court hearing ruled last week It said the former president and his co-defendants have 10 days to post the reduced amount from the $464 million judgment, which was due on March 25.

That was Trump before last week’s decision must pay 454 million dollarsmost of the fraud judgment, but the amount he owes has increased to more than $111,000 a day due to additional interest.

Trump’s lawyer, Alina Habba, said Monday that the former president is expected to be acquitted on appeal.

“As promised, President Trump paid the bond. He looks forward to vindicating his rights on appeal and overturning this unjust sentence,” Habba said.

Unless Trump wins about appeal, he will have to pay more than $450 million in a judgment stemming from New York Attorney General Letitia James’ fraud case. The judge found that Trump and senior executives of the Trump Organization had possession deliberately engaged allowed him to claim preferential loan and insurance rates in a scheme to improperly inflate his assets in his financial statements.

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By 37ci3

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