Former Republican President Donald Trump announced on Monday that he posted the $175 million bond set in the New York civil fraud case, thereby preventing the seizure of his assets.
“I’ve just posted a 175 Million Dollar Bond with the sadly failing and very troubled State of New York, based on a Corrupt Judge and Attorney General who used a Statute that was never used for this before, where no Jury was allowed,” said President Trump on Truth Social.
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The controversial fraud case was brought against Trump by Democrat New York Attorney General Letitia James, who argued that he misrepresented his net-worth by overvaluing his assets, including his famous Mar-a-Lago property in Florida.
During the proceedings, Trump was ordered to pay $464 million by Judge Arthur Engoron, also a Democrat, who ruled in favor of AG James.
Following that ruling, Trump could have faced asset seizure if he was unable to pay the near half-million dollar bond, and would likely have lost Trump Tower.
Following appeals by Trump’s legal team, the bond was reduced to a still astronomical, but, for Trump, manageable $175 million bond.
Last week, after the bond was lowered, Trump announced during an interview that he would be paying his bond in cash.
By posting the bond, Trump has protected himself from asset seizure while he further appeals the judgements made against him.
Trump will receive the bond back if appeals courts ultimately rule in his favor, but if his appeal efforts fail, he will be forced to pay the original $464 million plus the ever-growing interest, according to Fox News.
Throughout the fraud case, Trump has repeatedly denied any guilt, and has accused the judges involved of election interference by pushing a politically motivated case with no basis.
“The case was a fabricated ELECTION INTERFERENCE con job, so bad for New York, where businesses are fleeing & violent crime is flourishing. The Crooked Judge, to suit his narrative, valued Mar-a-Lago, in Palm Beach, Florida, at $18,000,000, when it is worth 50 to 100 times that amount. He ruled I was guilty before he ever saw the case. He should be disbarred, and Letitia James, who campaigned on getting TRUMP, impeached,” said Trump.
According to Fox, Trump’s appeal is scheduled to be held sometime in September, mere months before the presidential election.
