Donald Trump posted a $175 million bond in his New York civil fraud case, temporarily halting collection of the $454 million judgment against him and preventing asset seizure while he appeals, Associated Press reports.
This bond, mandated by an appellate court, serves as a guarantee of payment if the judgment against him is upheld. Trump’s lawyers had difficulty securing the bond due to its substantial amount, but it was eventually underwritten by Knight Specialty Insurance, with collateral including cash and bonds.
The case revolves around allegations that Trump inflated his wealth to secure loans and deals, which he denies. The appeal hearing is scheduled for September, with Trump aiming to overturn the judgment.
