Former President Trump announced Monday that he will post the $175 million bail set by the New York Court of Appeals in the civil fraud case.
“We intend to post bond, equivalent securities, or cash in accordance with the Appellate Division’s decision,” Trump wrote on Truth Social.
A five-judge state appellate court panel ruled Monday that a $464 million judgment against Mr. Trump, the Trump Organization and executives must be carried out within 10 days on $175 million bail. It was announced that if the amount was submitted, the execution would be suspended with interest.
The suspension comes after Trump’s lawyers acknowledged last week that it would be “impossible” for the former president to secure the full appeal bond due to a lack of cash on hand, despite “diligent efforts.” This was done in response to this.
Trump wrote on Truth Social on Friday that he has nearly $500 million in cash and told state attorneys in a deposition last year that he had “effectively over $400 million in cash.” .
The former president on Monday thanked the Court of Appeal for the ruling and slammed Judge Arthur Engoron, who presided over the fraud case against him.
“Judge Engoron is a disgrace to this country and something like this should not be tolerated,” President Trump told reporters at a Manhattan courthouse, citing allegations of hush money against him during the 2016 campaign. He was present at the hearing of the lawsuit.
A spokesperson for the New York State Attorney’s Office noted in a statement that the $464 million judgment against Trump and his businesses is still in effect.
“Donald Trump remains accountable for his extraordinary misconduct,” the spokesperson said. “The court has already found that he engaged in a long-standing fraud to unfairly inflate his net worth and unfairly enrich himself, his family, and his organization.”
President Trump has warned in recent days that he may have to make a “fire sale” of assets to cover the judgment against him.
Updated at 12:20 p.m.
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