Former President Donald Trump has posted $175 million in his New York civil fraud case, meeting the 10-day deadline given on March 25 and staying execution of judgment in the case. The payment prevents any seizure of President Trump’s assets as his appeal of the case is heard. His attorney, Alina Habba, stated that he looks forward to vindicating his rights on appeal and overturning the verdict.
New York Attorney General Letitia James sued Trump in 2022, alleging that he inflated his net worth and defrauded insurers and banks in Trump Organization financial statements. The case also involved Eric Trump, Donald Trump Jr., and other individuals and entities connected to the Trump Organization.
The judge ordered a significant disgorgement amount to be paid, along with other penalties. President Trump had initially faced a bond requirement of $464 million, which was later reduced to $175 million by the appellate court. Trump expressed his opposition to the original bond amount and criticized the judge and attorney general involved in the case.
Trump claimed to have nearly $500 million in cash but intended to use most of it for his presidential campaign. He accused his opponents of trying to divert his funds towards legal battles instead of his campaign. The challenge of securing a bond was discussed, with his attorneys arguing that it was difficult to obtain due to the high amount required and the lack of companies willing to issue such a bond.
Despite having internal policies that cap bonds at $100 million, many companies only issue larger bonds for large publicly traded conglomerates.
As evidence of this, the attorney general cited several cases where bonds larger than President Trump’s were fully bonded on appeal, all of which involved major corporations with billions in annual revenue, such as Samsung and Apple.
