(Washington Examiner) Former President Donald Trump has secured a $175 million bond in his New York civil fraud case, according to the latest court filing.
“As promised, President Trump has posted bond,” Trump lawyer Alina Habba said in a statement to the Washington Examiner. “He looks forward to vindicating his rights on appeal and overturning this unjust verdict.”
Trump’s counsel argued that paying the full $464 million judgment would be a near-impossible task after being rejected by more than two dozen bond companies. They also contended that Trump would suffer irreparable harm if he had to sell assets in order to come up with the amount to post a bond before his appeal of the fraud judgment.
New York Supreme Court Justice Arthur Engoron ruled in February that Trump and his business associates engaged in decades of business fraud after falsely inflating Trump’s net worth to secure favorable loans and insurance premiums.
Trump denies wrongdoing, and his lawyers have appealed Engoron’s ruling, arguing that the disgorgement amount was unconstitutional and disproportionate and that no parties, including banks, sustained any damages in the process.
“There is no evidence, and no finding by Supreme Court, that the relevant lenders and insurers would not have given Defendants loans and policies on the same terms in the absence of the supposed ‘misrepresentations,’” defense lawyers wrote in a March filing.
Trump and other defendants will be on the hook for the entire $464 million judgement if their appeal fails, though the process could last into 2025, legal experts previously told the Washington Examiner.
