by Ben Whedon at Just the News
Former President Donald Trump on Monday officially posted a $175 million bond in his New York civil fraud case, preventing state Attorney General Letitia James from seizing his assets while he appeals the verdict.
“As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” Trump Attorney Alina Habba confirmed Monday.
James originally sued Trump alleging that he had manipulated the value of his assets to secure favorable loan terms and lower insurance premiums. New York Judge Arthur Engoron found in summary judgement before trial that Trump could be held liable for fraud. He eventually imposed nearly $355 million in penalties as well as roughly $100 million in interest.
The merits of Trump’s appeal will be heard by a three-judge panel of the appeals court, Reuters reported.
His payment of the bond comes after the New York appeals court last month reduced the sum from $464 million and permitted Trump and his sons to continue operating their business in the Empire State while the appeal progresses. Engoron’s order had also barred Trump from serving as an officer in a New York-based company for three years.
Trump had previously sought to pay…
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