Former President Donald Trump has posted a $175 million bond in his New York civil fraud case, temporarily halting the state from collecting the more than $454 million he owes. This move also prevents the state from seizing his assets to satisfy the debt while he appeals. The bond was posted after an appeals court reduced the amount he needed to pause collection while he appeals a $454 million-plus judgment in his civil fraud case.
The case was brought by state Attorney General Letitia James, who claimed that Trump, his company, and key executives engaged in fraud by inflating his fortune on financial statements that helped secure loans and insurance. Trump denies the allegations.
State lawyers have called for more information on the bond’s bona fides and have given Trump’s lawyers or the bond underwriter 10 days to “justify” the bond. This could mean disclosing more about the collateral Trump provided. A hearing is set for April 22. Trump’s lawyer, Christopher Kise, accused James of trying to provoke a “baseless public quarrel in a desperate effort to regain relevance” after the appeals court last month significantly cut the amount of the bond needed to hold off collection.
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