Donald Trump posted a $175 million bond in his New York civil fraud case on Monday, averting asset seizures by state authorities that could have hobbled the former U.S. president’s business empire.
The Republican Trump, set to face Democratic President Joe Biden in the November U.S. election, was found liable on Feb. 16 for fraudulently inflating his net worth by billions of dollars to secure better loan and insurance terms.
Trump originally needed to post a bond for $454 million, but an appeals court on March 25 stayed enforcement of Justice Arthur Engoron’s judgment on condition that Trump pay the smaller sum within 10 days.
A three-judge panel of the appeals court will hear Trump’s appeal on the merits.
The appeals court ruling reducing the bond is no indication of how the panel will ultimately rule.
The bond prevents New York Attorney General Letitia James from going after Trump’s properties, including Trump Tower, his 370-acre resort and golf course in Westchester and his Mar-a-Lago estate in Florida.
