Former President Trump’s $454 million bond payment, stemming from a New York civil fraud judgment, has been significantly reduced by an appeals court. The case centers around allegations that Trump and his company inflated the value of their assets to secure loans and investments. Trump is appealing the ruling and has vowed to fight the case all the way to the Supreme Court.
Results for: Civil Fraud
Lawyers for Donald Trump and New York Attorney General Letitia James have compromised on a $175 million bond in Trump’s civil fraud case. The compromise includes restrictions meant to lock down the account so that the funds remain cash and can’t be swapped with less secure assets. Trump is battling the outcome of his civil fraud case, in which a New York appeals court allowed him to post a bond of $175 million rather than the full amount of his $454 million civil fraud penalty.
In a fiery defense of Donald Trump, attorney Alina Habba lashed out at New York Attorney General Letitia James after James moved to have Trump’s $175 million bond revoked following a civil fraud judgment. Habba argued that Trump’s bond should not be revoked and condemned the case as a “witch hunt”. Despite initially appearing skeptical, Justice Arthur Engoron agreed to accept the bond after Trump’s team agreed to rescind control of a Charles Schwab account put up as collateral.