Welp, former President Donald Trump has taken a significant financial step by posting a $175 million bond in the New York civil fraud case. This move prevents the seizure of his assets while the case undergoes the appeals process.
In a recent ruling by a state appeals court, Trump and his co-defendants were given a deadline to post the bond, which was reduced from the initial $464 million judgment. Prior to this decision, Trump faced a liability of $454 million, with the amount increasing daily due to added interest.
Trump’s attorney, Alina Habba, expressed confidence in the appeal process, stating that Trump is committed to defending his rights and overturning what they believe to be an unjust verdict. “As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” Habba said in a statement.
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Now, if the appeal is unsuccessful, Trump will be required to pay over $450 million as a result of the judgment in the fraud case brought by New York Attorney General Letitia James. The case alleged that Trump and top executives at the Trump Organization had manipulated financial statements to inflate assets, leading to favorable loan and insurance rates.
In addition to the civil fraud case, Trump is also appealing a separate verdict in New York related to a defamation lawsuit filed by writer E. Jean Carroll, where a jury awarded $83 million in damages. Trump has posted a $91.63 million bond in that case as well.
In a statement on Truth Social, Trump acknowledged the bond payments and criticized the judge in the civil fraud case, along with James and New York’s crime rate. He lamented the funds tied up in legal matters, referring to them as “money I can’t use on my campaign.”
Apart from these civil cases, Trump is facing upcoming trials in the Manhattan district attorney’s hush money case and three other criminal cases, including allegations of retaining classified documents and election interference. Trump has maintained his innocence and pleaded not guilty to all charges… in other words good luck.