Former President Donald Trump and his co-defendants have secured a $175 million bond in their New York civil fraud case, according to a court filing.
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BREAKING NEWS NOW. FORMER PRESIDENT DONALD TRUMP HAS SECURED A $175 MILLION BOND IN HIS NEW YORK CIVIL CASE. Trump secured the bond through Knight Specialty Insurance last Monday. A panel of judges from New York’s Appellate Division granted the former president, his adult sons, and two former Trump Organization executives a ten-day stay of the $464 million judgment in their civil fraud case and permitted them to post a reduced bond of $175 million.
Let’s bring in senior investigative correspondent Aaron Katersky for more.
Erin, I know you’ve been following this. So what does this mean both for Trump and also his sons and the others involved in this case?
Primarily, it means their assets are not going to be seized at the end of the week by the New York Attorney General. Posting the bond guarantees that Trump can pay at least a portion of a civil fraud judgment that runs to nearly half a billion dollars. The appeals court allowed Trump to guarantee that judgment with a reduced, still hefty $175 million bond. According to a court filing, Trump was able to secure that bond through a Los Angeles-based surety, Knight Specialty Insurance Company. We don’t know what he had to put up as collateral, but likely it’s quite a substantial amount of cash. Trump’s lawyers had said that he could cobble together maybe $100 million in cash, but certainly couldn’t afford anything more. So we don’t know what else he may have put up.