Donald Trump posted $175 million bail on Monday in a New York civil fraud case, avoiding an asset seizure by state authorities that could have crippled the former US president’s business empire.
Trump, who is set to face Joe Biden in the US presidential election in November, was found guilty on February 16 of fraudulently inflating his assets by billions of dollars to obtain favorable loan and insurance terms. I received it.
Mr. Trump was initially required to post bail at $454 million, but an appeals court on March 25 ruled that Mr. The execution of the judge’s judgment was suspended.
A three-judge panel of the appeals court will hear Trump’s appeal on the merits. The appeals court’s decision to reduce bail does not indicate what the panel will ultimately rule.
The bond allows New York Attorney General Letitia James to go after Trump’s assets, including Trump Tower, his 370-acre resort and golf course in Westchester, and his Mar-a-Lago mansion in Florida. This will be prevented.
President Trump has denied any wrongdoing and said the incident was a political witch hunt by James, the Democrat who sued him in 2022.
In his 92-page order, Mr. Engoron explained how Mr. Trump had been directing members of Congress for a decade, before he entered politics, to reach his desired net worth.
The case is part of a maelstrom of legal troubles facing President Trump, including a criminal trial in New York scheduled to begin on April 15. Trump has maintained his innocence, but he is accused of illegally concealing hush money payments to porn stars before the 2016 election.
He is also indicted on two counts of trying to overturn his loss to Biden in the 2020 election and another over his handling of classified documents upon leaving office.
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These people are experiencing delays and may not be tried before the November election.
Mr. Trump has maintained his innocence on all counts.
