(FeaturedNews.com) – On Monday evening, former President Donald Trump posted a $175 million bond in his civil fraud case in New York which will allow him to avoid having any of his assets potentially seized as he starts the appeal process against the judge’s ruling.
Judge Arthur Engoron had previously found that Trump, the Trump Organization, and many of the business’s top executives were liable for fraud, arguing that they had conspired to change the value of assets in order to receive more beneficial business deals and taxes.
Knight Specialty Insurance Company granted Trump the bond which officially blocks New York Attorney General Letitia James (D) from being allowed to collect on the $464 million plus interest.
Apart from the financial penalty, the judge’s ruling also blocks Trump, as well as the Trump Organization executives, from holding any business leadership positions in New York state for a number of years. However, this part of the ruling is also temporarily paused by the bond.
Trump previously had to appeal the bond set, which resulted in a state appeals court order that noted that the enforcement of the full judgment would be put on pause so long as the reduced amount of $175 million was posted. Originally, Trump’s legal team had asked the court to lower the bond to $100 million as the original bond was almost “impossible” to secure.
James’ office had previously pushed for the appeals court not to allow a lower bond and to instead demand that Trump should pay the full amount.
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