Trump posts $175 million bond in civil fraud case, averting asset seizures
(Reuters) — Donald Trump posted a $175 million bond in his New York civil fraud case on Monday, averting asset seizures by state authorities that could have hobbled the former U.S. president’s business empire.
Mr. Trump was found liable on Feb. 16 for fraudulently inflating his net worth by billions of dollars to secure better loan and insurance terms.
He originally needed to post a bond for $454 million, but an appeals court on March 25 stayed enforcement of Justice Arthur Engoron's judgment on condition that Trump pay the smaller sum within 10 days.
A three-judge panel of the appeals court will hear Mr. Trump's appeal on the merits. The appeals court ruling reducing the bond is no indication of how the panel will ultimately rule.
The bond prevents New York Attorney General Letitia James from going after Mr. Trump's properties, including Trump Tower, his 370-acre resort and golf course in New York’s Westchester County, and his Mar-a-Lago estate in Florida.
Mr. Trump has denied wrongdoing and said the case is a political witch hunt by Ms. James, a Democrat who sued him in 2022.
In a 92-page order, Justice Engoron described how Trump directed deputies to change the values of his properties to arrive at his desired net worth for a decade before his entry into politics.
