Trump Puts Up $175M Bond, Prevents Seizure of Assets

Move comes as he appeals his loss in New York civil fraud trial
By Newser Editors and Wire Services
Posted Apr 1, 2024 7:49 PM CDT
Trump Puts Up $175M Bond, Prevents Seizure of Assets
Donald Trump speaks during the Club Golf Awards at Trump International Golf Course in West Palm Beach, Fla., Sunday, March 24, 2024.   (AP Photo/Terry Renna)

Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets. The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld, per the AP. If that happens, the former president will have to pay the state the whole sum, which grows with daily interest. If Trump wins, he won't have to pay the state anything and will get back the money he has put up now.

A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed. Until the appeals court intervened to lower the required bond, New York Attorney General Letitia James had been poised to initiate efforts to collect the judgment, possibly by seizing some of Trump's marquee properties. The court ruled after Trump's lawyers complained it was "a practical impossibility" to get an underwriter to sign off on a bond for the full $454 million.

Trump is fighting to overturn a judge's Feb. 16 finding that he lied about his wealth as he fostered the real estate empire that launched him to stardom and the presidency. The trial focused on how Trump's assets were valued on financial statements that went to bankers and insurers to get loans and deals.

(More Donald Trump stories.)

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