Former President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing seizure of his assets while the case is on appeal.
The bond comes after a state appeals court ruled last week that the former president and his co-defendants had 10 days to post the amount, which was reduced from the $464 million judgment that was originally due March 25.
Before last week’s ruling, Trump was liable for $454 million, most of the fraud judgment, but the amount he owed had been growing by more than $111,000 daily due to added interest.
Trump attorney Alina Habba said Monday that the former president would be vindicated on appeal.
“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.
If Trump doesn’t win on appeal, he will have to pay more than $450 million from a judgment stemming from New York Attorney General Letitia James’ fraud case. A judge found that Trump and top executives at the Trump Organization had intentionally engaged in a scheme to improperly inflate his assets in financial statements that enabled him to claim favorable loan and insurances rates that were not entitled to him.
