New York:
Embattled former U.S. President Donald Trump posted $175 million bail on Monday in his New York civil fraud case, avoiding paying a $454 million fine while his case moves through the appeals process, a court filing showed. .
Last week, a New York appeals court slashed the $454 million bond he was required to pay, reducing the amount to $175 million and giving him 10 days to pay the smaller amount.
The nearly $500 million in fines he initially owed raised the possibility that New York authorities could move to seize Trump’s assets if he couldn’t pay, but as announced on Monday, the amount was reduced and he found a company to pay the bonds He had been given some breathing room.
Trump said at the time: “I very much respect the decision of the Court of Appeals and I will provide $175 million in cash, bonds or guarantees or whatever is necessary very quickly within 10 days.”
The lifeline came from a California company called Knight Specialty Insurance Company, which announced the bond in a court filing Monday.
The 77-year-old real estate mogul was re-elected for the Republican nomination after Judge Arthur Ngoren found him and his two adult sons guilty in a non-jury trial, ruling that they and his family company had misdeeds over the value of their assets. banks and insurance companies.
Trump has been targeted by prosecutors for a range of alleged crimes, from falsifying business records in a hush-money case to trying to overturn the 2020 election, when he became the first president in modern U.S. history to refuse to concede and incited a mob . Supporters march on Congress.
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