Donald Trump has posted a $175 million bond in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals.

Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing.

A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement.

The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.

If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.

  • Buffaloaf@lemmy.world
    41·
    9 months ago

    “This is what we do at Knight Insurance, and we’re happy to do this for anyone who needs a bond,” said Hankey, who is best known in the business world for making high-risk, high-interest loans to car buyers with flawed credit histories.

    lmao

    • RGB3x3@lemmy.worldEnglish
      191·
      9 months ago

      Trump is trading one payment for an even worse one. There’s no way Hankey doesn’t have an iron-clad contract to get back way more than Trump got.

      • ArtVandelay@lemmy.worldEnglish
        1·
        9 months ago

        A contract is toilet paper to Trump. He’d happily renig on his part and start the courtroom shenanigans anew. After all what’s one more civil case?