Trump posts $175 million bond in civil fraud case, averting asset seizures By Reuters

By Jack Queen

(Reuters) – Donald Trump posted a $175 million bond in his bankruptcy case in New York on Monday, preventing a federal seizure that could have crippled the former U.S. president’s business.

The Republican Trump, who will face Democratic President Joe Biden in the November US election, was found guilty on Feb. 16 for fraudulently raising his money by billions of dollars to get better loans and insurance.

Trump was originally supposed to post $454 million in bail, but an appeals court on March 25 suspended Justice Arthur Engoron’s decision unless Trump pays the minimum amount within 10 days.

A three-judge appeals court will hear Trump’s appeal on the merits. The appeals court’s decision to reduce the sentence does not indicate how the panel will ultimately rule.

The agreement prevents New York Attorney General Letitia James from seizing Trump’s assets, including Trump Tower, his 370-acre resort and golf course in Westchester and his Mar-a-Lago estate in Florida.

Trump has denied wrongdoing and said the case is a political witch hunt by James, a Democrat who sued him in 2022.

In a 92-page order, Justice Engoron explained how Trump ordered his cabinet to change his policies to reach his desired price for a decade before entering politics.

The case is part of a series of legal challenges Trump is facing, including a federal trial in New York that will begin on April 15. Trump, who has pleaded not guilty, is accused of concealing illegal money from pornography. star ahead of the 2016 election.

He has also been indicted on two counts of trying to interfere in the 2020 election for Mr. Biden and another of using classified documents after he left office.

They have been delayed and may not go to trial before the November election.

Trump has pleaded not guilty to all of them.

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