Former President Donald Trump posted the $175 million bond in his New York civil business fraud case on Monday, one week after an appeals court allowed the leading presidential candidate to post a significantly lower bond.
A New York appeals court panel gave Trump a legal victory last week when it said the former president did not have to post the $464 million bond that was decided by Judge Arthur Engoron. Instead, Trump had 10 days to come up with the money for a reduced bond and said on Monday night that he had posted the $175 million amount, which prevents the state from seizing any of his assets as Trump’s legal team appeals Engoron’s judgment.
“I’ve just posted a 175 Million Dollar Bond with the sadly failing and very troubled State of New York, based on a Corrupt Judge and Attorney General who used a Statute that was never used for this before, where no Jury was allowed, my financial statements were conservative and had a 100% perfect caution/non-reliance clause, there were no victims (except me!), there was no crime or damage, there was only success and HAPPY BANKS,” Trump wrote on Truth Social.
Judge Engoron ruled in agreement with New York Attorney General James in February after James brought civil charges against Trump, alleging the former president inflated his net worth and misled investors. In his judgment, Engoron ordered Trump to pay $350 million, which increased to $464 million, including interest, and also ordered Trump’s co-defendants to pay $10 million.
Prior to last week’s appeals court decision, Trump would’ve had to pledge 120%, or around $550 million, in collateral to a bond company, an amount his lawyers said last week would be “a practical impossibility” to attain. Shortly after the appeals court reduced the bond, however, Trump said he would post the amount in “cash.”
Trump says he will pay the bond in CASH. pic.twitter.com/Iln5mpLv1H
— The Post Millennial (@TPostMillennial) March 25, 2024
The bond posted by the former president acts as a guarantee of payment if Judge Enoron’s judgment is upheld. If Trump ultimately loses his appeal, he will still have to pay the full amount of Engoron’s judgment, which grows in interest every day, Fox News reported.
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Trump raged against Engoron and James in his post on Monday night, calling the case brought against him “election interference” and a “witch hunt.”
“The case was a fabricated ELECTION INTERFERENCE con job, so bad for New York, where businesses are fleeing & violent crime is flourishing,” said Trump. “The Crooked Judge, to suit his narrative, valued Mar-a-Lago, in Palm Beach, Florida, at $18,000,000, when it is worth 50 to 100 times that amount. He ruled I was guilty before he ever saw the case. He should be disbarred, and Letitia James, who campaigned on getting TRUMP, Impeached. Also posted a 91 Million Dollar Bond on another New York Fake Case, money I can’t use on my campaign. Just what Crooked Joe wanted. WITCH HUNT!”