Former US President Donald Trump speaks after attending the wake for New York City Police Department (NYPD) officer Jonathan Diller, who was shot and killed while conducting a traffic stop routine on March 25 in the Far Rockaway section of Queens, in Massapequa Park, New York. York, United States, March 28, 2024.
Shannon Stapleton | Reuters
Former President Donald Trump posted a $175 million bond in the New York civil fraud case, preventing the seizure of his assets while the case is on appeal.
The bail comes after a state appeals court ruled last week that the former president and his co-defendants had 10 days to pay the amount, which was reduced from the $464 million judgment originally due on March 25 .
Before last week’s ruling, Trump was responsible for $454 million, the bulk of the fraud judgment, but the amount owed had grown by more than $111,000 a day because of the additional interest.
Trump’s lawyer, Alina Habba, said Monday that the former president will be exonerated on appeal.
“As promised, President Trump has posted bond. He looks forward to asserting his rights on appeal and overturning this unjust verdict,” Habba said in a statement.
If Trump does not win on appeal, he will have to pay more than $450 million following a judgment stemming from New York Attorney General Letitia James’ fraud case.
A judge found that Trump and senior Trump Organization executives had intentionally engaged in a scheme to improperly inflate his assets in financial statements that allowed him to claim favorable loan rates and insurance that he was not entitled to.