3Photo© thehindu.comTrump Posts $175 Million Bond In New York Civil Fraud Case, Averts Asset Seizure
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Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing.
A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement.
The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.
“ I greatly respect the decision of the appellate division and I will post $175 million in cash and bonds or security or whatever is necessary very quickly, within the 10 days,
Donald Trump,
Trump posts $175 million bond in civil fraud case; clears path for…
“ As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict,
Alina Habba,
Donald Trump posts $175 million bond in New York civil fraud case