Trump Appeals Civil Fraud Case in New York with $175 Million Bond

Former President Donald Trump has submitted a $175 million bond while he challenges the court ruling in the civil fraud case filed by New York Attorney General Letitia James.

Matt Egan explains why some experts say the multi-billion dollar valuation of Trump Media defies logic.

Matt Egan explains why some experts say the multi-billion dollar valuation of Trump Media defies logic.

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Trump Media reported a loss of $58.2 million in 2023.

Trump's bond temporarily stops James from taking any action against Trump's properties following the judgment. This pause will last until at least September, when the state appeals court will also schedule a hearing for his appeal of the $464 million verdict.

The bond is backed by Knight Specialty Insurance, a California insurance company. However, the court document does not specify the collateral Trump used to secure the bond.

Trump mentioned in a recent news conference that he planned to use cash to pay for the bond. He also mentioned that he intended to use cash to support his reelection campaign.

Trump was asked if he planned to invest personal funds into his presidential campaign. He responded by saying, "First of all, it's none of your business," but added, "I might do that. I have the option."

A state appeals court recently reduced the bond amount by several hundred million dollars. Trump's attorneys argued that covering the full bond for the $464 million verdict was not feasible. (Trump himself was ordered to pay $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.)

Former President Donald Trump attends the 2024 Senior Club Championship award ceremony at his Trump International Golf Club in West Palm Beach, Florida, on March 24.

Former President Donald Trump attends the 2024 Senior Club Championship award ceremony at his Trump International Golf Club in West Palm Beach, Florida, on March 24.

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Judge Arthur Engoron has expanded the gag order in the Trump hush money case to include family members of the court. In January, the judge fined Trump, his adult sons, and his company a total of $464 million. This was due to fraudulent inflation of the former president's assets to get better loan rates. Trump was given 30 days to post the bond required by state law, but his attorneys claimed they couldn't find an insurance company to underwrite such a large bond. As a result, steps were taken to prepare to seize Trump's assets if he failed to post the bond.

When the 30-day deadline arrived, the New York appeals court intervened and reduced the bond to $175 million, granting Trump an extra 10 days.

Trump attorney Alina Habba stated, "President Trump has fulfilled his promise by posting the bond. He is eager to defend his rights on appeal and reverse this unfair decision."

Trump also posted a $91.6 million bond last month in the E. Jean Carroll defamation case while he appeals that verdict against him.

This story has been updated with additional developments.

Editor's P/S:

The recent legal developments in the civil fraud case against former President Donald Trump highlight the ongoing legal challenges he faces. Trump's submission of a $175 million bond to halt enforcement of the $464 million judgment against him temporarily pauses the proceedings, but the appeals process will determine the ultimate outcome. Trump's attorneys have argued that the initial bond amount was excessive, while the New York Attorney General's office maintains the need for substantial security given the allegations of fraudulent behavior.

The complexities of the case, including Trump's ongoing political ambitions and the potential impact on his personal assets, add further layers of intrigue. The outcome of the appeals process will have significant implications for Trump both financially and politically, and the court's decision will be closely watched by legal experts and the general public alike.