Trump gave $175 million bond in New York fraud case
Former US President Donald Trump posted a $175 million bond in a New York fraud case to avoid asset forfeiture. He deposited the money on Monday (April 1). The British media reported the news.
The court ordered Trump to pay $464 million. Later, the appeals court initially ordered Trump to pay $175 million within 10 days.
Trump's lawyer, Alina Habba, said in a statement that Trump paid the bond as promised. He said Trump looks forward to asserting his appeal rights and overturning the wrongful ruling.
This will temporarily prevent Trump from seizing his real estate assets, such as Trump Tower in Manhattan and his Mar-a-Lago estate in Florida.
He is accused of fraudulently overstating the value of the property. He was indicted on the charge in February.
Trump, however, admitted the allegations and claimed the case was politically motivated.
Under New York law, the accused may stay the execution of the judgment on appeal by bond. If Trump loses his appeal, he must pay $464 million. However, it may take several months or more for the case to be decided.
In 2022, New York Attorney General and Democrat Letitia James filed a fraud suit against Trump. There are two other cases against the former president.
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