Your current location:HOME >business >Trump posts $175 million bond in New York fraud case 正文
TIME:2024-05-21 12:20:10 Source: Internet compilationEdit:business
Trump posts $175 million bond in New York civil fraud case 04:05
Former President Donald Trump and co-defendants in his New York civil fraud case have posted a bond of $175 million, according to a court filing Monday by an insurance company.
The posting brings to an end a six-week ordeal in which Trump scrambled to fend off possible seizure of property or assets stemming from a $464 million judgment by a judge who found he gained hundreds of millions through a yearslong fraud scheme targeting banks and insurers. Trump was required to post bond to avoid enforcement of the judgment pending his appeal.
Alina Habba, an attorney for Trump, said Trump's payment was made "as promised."
"He looks forward to vindicating his rights on appeal and overturning this unjust verdict," Habba said.
The bond was lowered by an appellate court from the $464 million figure to $175 million on March 25, hours after Trump missed a grace period deadline extended by New York Attorney General Letitia James, whose office brought the case.
A spokesperson for James declined to comment. James had indicated her office would pursue Trump's assets if he failed to post bond.
"If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets," she said during a February interview with ABC News.
Attorneys for Trump wrote in a March 18 filing in the case that it was a "practical impossibility" for the defendants to secure the original, near half-billion dollar bond. They said he had been turned down by over 30 surety companies.
"Very few bonding companies will consider a bond of anything approaching that magnitude," wrote the lawyers, Alina Habba, Clifford Robert, Christopher Kise and John Sauer. They noted that surety providers often require collateral up to 120% to guarantee the bond, driving the amount Trump might need over $500 million.
That filing, made on March 18, listed more than 30 companies the Trump Organization said it approached seeking the larger bond, all of whom declined. The one that ultimately provided Monday's $175 million bond, Knight Specialty Insurance Company, was not on that list.
Everybody may love Raymond, but Ray Romano loves Peter Boyle2024-05-21 11:55
UNGA president advocates for sustainability in daily life2024-05-21 11:25
Indian investigating agency to question Delhi chief minister in liquor policy case2024-05-21 11:25
Trade fair strengthens win2024-05-21 10:50
‘The Blue Angels,’ filmed for IMAX, puts viewers in the ‘box’ with the elite flying squad2024-05-21 10:38
World Insights: NATO's meddling in Asia2024-05-21 10:17
Xi, Biden Exchange Congratulations on 45th Anniversary of Diplomatic Ties2024-05-21 10:16
Asian economy expected to increase 4.5 percent in 2024: report2024-05-21 10:15
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI2024-05-21 10:09
Trade fair strengthens win2024-05-21 10:08
Supreme Court rejects an appeal from a Canadian man once held at Guantanamo2024-05-21 12:04
Harbin to Moscow freight train delivers vehicles to Russia2024-05-21 11:59
More countries to participate in 4th China International Consumer Products Expo2024-05-21 11:52
U.S. bears a lot of responsibility for deglobalization trend: former Secretary of Commerce2024-05-21 11:39
Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS2024-05-21 11:38
UN responds to devastating ferry tragedy in Mozambique2024-05-21 11:26
Huawei opens 2nd store in Saudi Arabia2024-05-21 11:01
China's home2024-05-21 10:33
Nadal returns to Roland Garros to practice amid doubts over fitness and form2024-05-21 10:01
Juvenile murder case in North China shines spotlight on school bullying2024-05-21 09:40