Reuters reported on the 1st (local time) that former U.S. President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing the seizure of his assets.
On February 16th, Justice Arthur Engoron of the New York Manhattan District Court imposed a fine of $454 million, including interest, against Trump for using fraudulent financial statements for loans. On the 25th of last month, the New York Court of Appeals agreed to hold off collecting Donald Trump’s more than $454 million civil fraud judgment if he puts up $175 million within ten days. If Trump does, it will stop the clock on collection and prevent the state from seizing the presumptive Republican presidential nominee’s assets while he appeals.
In September 2022, Letitia James, New York State Attorney General, and Prosecutor filed a civil lawsuit against the Trump Organization and company executives for unjustly profiting from false financial statements that overestimated the company’s net assets over a decade, starting in 2011. The prosecution requested a fine of $250 million against Trump and asked that he and his company be permanently banned from doing business in New York State.
Trump has consistently claimed his innocence on all charges, emphasizing that it is “a political witch hunt by James, a Democrat.”
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