Former United States President Donald Trump has posted a $175 million bond in his civil fraud case in New York, avoiding asset seizures that could have dealt a serious blow to his finances and reelection hopes.
Trump, who is set to face off against US President Joe Biden for the presidency in November, was found liable in February for misrepresenting his net worth by as much as $2 billion to secure better terms for loans and insurance.
An appeals court last week ordered Trump, his adult sons, and two former Trump Organization executives to pay the sum within 10 days, allowing them to avoid paying a $454 million bond set by a different judge.
Trump’s lawyers argued that securing a bond for the full judgment was practically impossible after more than 30 insurance companies refused to accept Trump’s cash and real estate holdings as collateral.
