Former President Donald Trump and his co-defendants in a New York civil fraud case have posted a $175 million bondAccording to a court filing Monday by an insurance company.
The posting ends a six-week trial that has seen Trump barred from seizing property or assets. $464 million verdict He made hundreds of millions as a judge A multi-year fraud scheme Targeting banks and insurers. Trump had to file the bond to avoid enforcement of the ruling pending his appeal.
Trump's attorney, Alina Hubba, said Trump's payment was made “as promised.”
“He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” Hubba said.
The Bond reduced New York Attorney General Letitia James extended the money from $464 million to $175 million on March 25, hours after Trump missed a deadline by an appeals court.
A spokeswoman for James declined to comment. James had indicated that Trump's office would pursue his assets if he failed to file the deed.
“If he doesn't have the money to pay the judgment, we will seek enforcement mechanisms in court and ask the judge to seize his assets,” he said during an interview with ABC News in February.
That was the case in a March 18 filing by Trump's lawyers A “practical impossibility” The defendants secured the original, nearly half-billion-dollar bond. He was rejected by more than 30 bail agencies, they said.
“Very few bonding companies would consider anything approaching that size a bond,” wrote attorneys Alina Hubba, Clifford Robert, Christopher Kiss and John Sawyer. They noted that bailiffs often require up to 120% of the bond to guarantee a bond, with Trump paying more than $500 million.
That filing, made on March 18, listed more than 30 companies the Trump Organization said were seeking large bonds, all of which declined. Knight Specialty Insurance Co., which ultimately issued a $175 million bond on Monday, was not on that list.
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