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Trump secures $175 million bond in New York fraud lawsuit

Ex-President Trump secured a $175 million bond in his civil fraud case in New York on Monday, preventing immediate asset seizure while he appeals a state judge’s decision related to fraudulent business practices. This bond, provided by Knight Specialty Insurance Company, halts the collection efforts by New York Attorney General Letitia James for a $464 million judgment against Trump, his company, and its senior executives during the appeal process.

Last year, Judge Arthur Engoron found Trump and his company guilty of fraud, a decision that led to significant financial repercussions and restrictions on their business operations in New York. The bond issuance followed an appellate court’s decision allowing for a temporary stay on the full judgment enforcement if a reduced bond was posted.

Trump’s legal team, citing financial constraints, initially sought approval for a $100 million bond, less than the total judgment amount. In contrast, James’s office advocated for the full bond amount, highlighting Trump’s claimed financial assets.

The state began actions to seize Trump’s assets, like the Seven Springs golf resort, before the bond was posted. However, with the bond in place, asset seizure is on hold, allowing the appeal to proceed. Trump’s legal team must now finalize their appeal as per the appellate court’s conditions.

Trump’s attorney, Alina Habba, expressed confidence in overturning the verdict through the appeal process, asserting the case’s perceived injustice.