Donald Trump Posts $175 Million Bond in Civil Fraud Case

The former president's attorney said Trump "looks forward to... overturning this unjust verdict" as he appeals the ruling

<p>Adam Glanzman/Bloomberg via Getty</p> Donald Trump on the campaign trail in 2024

Adam Glanzman/Bloomberg via Getty

Donald Trump on the campaign trail in 2024

Donald Trump has secured a $175 million bond in the civil fraud case brought against him by the New York Attorney General.

On Monday, Trump’s attorney, Alina Habba, confirmed that the former president, 77, posted the bond in the case in order to secure his assets from seizure while the case is under appeal. “He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” Habba said in a statement, according to NBC News.

Trump faced allegations from New York Attorney General Letitia James, whose office claimed that he falsely inflated his net worth by billions of dollars to secure more favorable loan terms and lower insurance premiums. Per the suit, James claimed Trump’s sons and senior executives at the Trump Organization assisted him.

In a press release from 2022, when James filed the lawsuit, her office claimed that “from 2011-2021, Mr. Trump and the Trump Organization knowingly and intentionally created more than 200 false and misleading valuations of assets on his annual Statements of Financial Condition to defraud financial institutions.”

During a press conference at the time, James said she was seeking $250 million in fines from Trump and was planning to ban his family from operating any New York businesses in the future, and ban the former president and the Trump Organization from buying commercial real estate in New York for five years.

Related: Joe Biden's 2024 Message to Never-Trump Republicans? 'Save America, Join Us'

<p>Sean Rayford/Getty</p> Donald Trump at a rally in 2023

Sean Rayford/Getty

Donald Trump at a rally in 2023

At the end of February, the former president was ordered to pay $354.9 million, plus an estimated $100 million in pre-judgment interest, as a penalty for committing fraud in New York. The ruling also barred him from serving as an officer or director of any New York corporations or legal entities for three years, and restricted him and the Trump Organization from applying for loans from New York-chartered financial institutions during the same time frame.

In response, Trump’s attorneys filed for appeal in the case, seeking an investigation into whether Judge Arthur Engoron “committed errors of law and/or fact, and whether he abused his discretion and/or acted in excess of his jurisdiction” in the ruling, per NBC News.

According to the New York Times, Trump's $175 million was secured through Knight Specialty Insurance Company. "In providing the bond, which is a legal document, not an actual transfer of money, the firm essentially promised New York’s court system that it would cover a portion of the $454 million judgment against Mr. Trump if he loses his appeal and fails to pay," the outlet reported.

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Next week, the first of a series of cases involving the former president is set to go to trial, with jury selection in the hush money case due to begin on April 15.

That trial was initially scheduled to begin March 25, but Trump requested a 90-day delay so that his legal team could review some 73,000 new pages of discovery provided by the U.S. Attorney’s Office in Manhattan.

Manhattan District Attorney Alvin Bragg agreed to the delay to allow his own office to review additional documents, too.

<p>Ian Maule/Bloomberg via Getty</p> Donald Trump at a campaign rally in 2024

Ian Maule/Bloomberg via Getty

Donald Trump at a campaign rally in 2024

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According to an indictment, Trump allegedly orchestrated a hush money scheme that lasted from August 2015 — two months after he formally announced his first run for the presidency — to December 2017, after he took office. During that time, prosecutors claim that he ordered his then-attorney to pay off women who were trying to sell stories about extra-marital affairs with him to the press.

Prosecutors allege that he “violated election laws” by doing so, as well as falsifying business records. The adult film star in question, while not named in the indictment, is widely assumed to be Stormy Daniels.

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