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Trump posts $175M bond in New York civil fraud case

The bond prevents the state from collecting on the $454 million judgment against Trump while an appeal goes on.
Trump posts $175M bond in New York civil fraud case
Posted at 6:45 PM, Apr 01, 2024
and last updated 2024-04-01 22:53:55-04

Donald Trump posted a $175 million bond for his New York civil fraud case in a filing in New York Supreme Court on Monday.

According to the paperwork, bond was provided by Knight Specialty Insurance Company, a California company. Company officials told The Associated Press the collateral was made up of both cash and other bonds.

Trump's posted bond prevents the state from collecting on the $454 million judgment against him or from seizing assets to do so while an appeal goes forward.

Trump had 10 days to post the reduced bond after a New York appellate court ruled on the reduced bond last month.

If judgment is upheld against Trump's appeal, he will still have to pay the full $454 million penalty, plus interest that is accruing on a daily basis.

If Trump's appeal is successful, the bond money will return to him. 

Trump seeks to overturn the ruling, made in February, that he committed fraud in overvaluing his portfolio of properties and business interests in order to secure new loans.

During the case, he has claimed on the stand that he is worth even more than the disputed financial statements allege, and has sought to frame the case as politically motivated on the part of Judge Arthur Engoron and New York Attorney General Letitia James.

Before bond in the case was lowered by the appellate court ruling, James and her office indicated they may have started seizing Trump's properties to pay his judgment. 

James' office did not comment on Monday's bond news.


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