10.8 C
New York
Tuesday, April 23, 2024

Buy now

President Donald Trump Posts $175 Million Bond

Former President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing the seizure of his assets while the case is under appeal. This move follows a ruling by a state appeals court last week, which gave Trump and his co-defendants 10 days to post the bond. The original judgment amount of $464 million, due on March 25, was reduced.

Trump’s liability was initially $454 million, but with added interest, it was growing by over $111,000 daily. The bond posting halts the accrual of further interest on the judgment.

In response to the bond posting, Trump’s attorney Alina Habba stated that the former president remains confident in his appeal. She expressed Trump’s commitment to vindicating his rights through the appeals process and overturning what he considers an unjust verdict.

If Trump fails to succeed in his appeal, he will be required to pay over $450 million as part of the judgment resulting from New York Attorney General Letitia James’ fraud case. The case concluded that Trump and senior executives at the Trump Organization had deliberately engaged in a scheme to inflate his assets improperly. This inflation enabled him to obtain favorable loan and insurance rates that he was not entitled to.

Join MultiMediaMouth+ for $3 a month

Support MultiMediaMouth.com now! For just $3/month, you will get ad-free access to select articles, Podcasts, and livestream events! Join today and support small creators!

Ruben Jay
Ruben Jay
Ruben Jay is an American broadcaster, media blogger, and podcast host. Currently, Ruben is the President of MultiMediaMouth.com and the executive producer and host of the popular podcasts You’re My Best Friend and ON AIR with Ruben Jay, exclusively on MultiMediaMouth.com. Follow Ruben on Instagram, Twitter, and Tiktok @TheRubenJay.

Related Articles

Latest Articles