Fraud and swindling

Trump Posts $175M Bond in NY Fraud Case

APR 2 2024·Updated APR 3 2024

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Image credit: Spencer Platt/Staff/Getty Images News via Getty Images

The Facts

Former Pres. Donald Trump has posted a $175M bond, underwritten by Knight Speciality Insurance, related to his appeal of the New York civil fraud judgment against him.
Documentcloud
Trump in February was found guilty of overstating the value of his assets to loan and insurance companies to secure financial agreements. He has denied the allegations, with the bond pausing the seizure of $465M in penalties as a guarantee of payment while he appeals.
ap
New York's Supreme Court had ruled the bond to be priced at $465M, but that was reduced on March 25 by an appellate court. Trump and his co-defendants were given 10 days for the bond to be secured post-appeal.
Documentcloud
Without a posted bond, New York Attorney General Letitia James had threatened to seize property and freeze bank accounts. Trump's legal team had argued within appeal that a $465M bond was impossible to secure.
BBC News
Trump owes $454M, not including a 9% annual interest rate. It's believed he holds roughly $413M in cash and liquid assets. In a separate case, he has posted a bond worth $92M while he appeals a $83M defamation judgment.
Forbes
These judgments coincide with Trump Media & Technology Group going public last week. Although the stock's price fell by approximately 20% Monday, the former president is estimated to have currently seen a $4B increase in net worth.
www.ft.com

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The Spin

Pro-Trump narrative

Once again, Trump has struck a blow against the weaponized legal system. Despite the best attempts of the deep state, James won't be able to get her hands on Trump's assets. Trump is one step closer to overturning New York's ridiculous, politicized ruling.

WLT Report

Anti-Trump narrative

It may not seem like it at first, but Trump posting bond could help Democrats, who stood to lose more ground if Trump had had his assets seized. The former president always gains when he and his supporters feel he's been treated unfairly. Now there's one less thing he can complain about.