NEW YORK (AP) — donald trump He posted $175 million bail on Monday in a New York civil fraud case, halting collection of more than $454 million in outstanding debt and preventing the state from seizing assets to pay off debts. did. he complainsaccording to court filings.
The New York Court of Appeals had given the former president 10 days to pay the money after a panel of judges last month agreed to reduce the amount needed to halt the execution.
The bond that President Trump currently has filed with the court is essentially a playholder, intended to guarantee payment if the verdict is upheld. If that happens, the Republican presidential candidate would have to pay the state the full amount of interest that increases each day.
If Trump wins, states won’t have to pay anything and the money they’ve put in will be returned to them.
Until the appeals court intervened to reduce the required bail, New York Attorney General Letitia James was poised to begin efforts to recover the judgment, possibly including seizing some of President Trump’s famous properties. James, a Democrat, filed the lawsuit on behalf of the state.
The court’s decision comes after Trump’s lawyers argued that it would be “practically impossible” to get underwriters to accept the $454 million plus interest bond he owed. I put it down.
President Trump is fighting to overthrow Judge’s February 16 Certification He is lied about his wealth He cultivated a real estate empire that catapulted him to stardom and presidential status. The trial focused on how Trump’s assets were valued on financial statements submitted to banks and insurance companies for loans and transactions.
President Trump says what he said actually happened and denies wrongdoing undervalued his wealthcomes with a disclaimer, not taken at face value by the institutions that financed and insured him.
Michael R. Sisak and Jennifer Peltz, Associated Press
https://toronto.citynews.ca/2024/04/01/donald-trump-posts-175-million-in-civil-fraud-case-halting-collection-of-massive-judgment/
