The Briefing Room
General Category => Trump Legal Investigations => Topic started by: mystery-ak on April 02, 2024, 12:33:33 am
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Trump posts $175M bond in New York fraud case
by Ella Lee - 04/01/24 8:29 PM ET
Former President Trump posted a $175 million bond in his New York civil fraud case Monday evening, staving off the possible seizure of his assets while appealing a state judge’s ruling against him over deceitful business practices.
The bond, from the Knight Specialty Insurance Company, automatically bars New York Attorney General Letitia James (D) from collecting the $464 million, plus interest, judgment against Trump, his business and top executives while the appellate process moves forward.
Judge Arthur Engoron found Trump, the Trump Organization and top executives — including Trump’s adult sons — liable for fraud last year. In February, he ruled that they conspired to alter the former president’s net worth for tax and insurance benefits.
In addition to the financial penalty, Trump and the executives were barred from serving in top leadership positions of any New York business for several years — a penalty also paused by the bond.
more
https://thehill.com/regulation/court-battles/4568711-trump-posts-175m-bond-in-new-york-fraud-case/