Current location:sport >>
Trump posts $175 million bond in New York fraud case
sport2People have gathered around
IntroductionTrump posts $175 million bond in New York civil fraud case 04:05 ...
Former President Donald Trump and co-defendants in his New York civil fraud case have posted a bond of $175 million, according to a court filing Monday by an insurance company.
The posting brings to an end a six-week ordeal in which Trump scrambled to fend off possible seizure of property or assets stemming from a $464 million judgment by a judge who found he gained hundreds of millions through a yearslong fraud scheme targeting banks and insurers. Trump was required to post bond to avoid enforcement of the judgment pending his appeal.
Alina Habba, an attorney for Trump, said Trump's payment was made "as promised."
"He looks forward to vindicating his rights on appeal and overturning this unjust verdict," Habba said.
The bond was lowered by an appellate court from the $464 million figure to $175 million on March 25, hours after Trump missed a grace period deadline extended by New York Attorney General Letitia James, whose office brought the case.
A spokesperson for James declined to comment. James had indicated her office would pursue Trump's assets if he failed to post bond.
"If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets," she said during a February interview with ABC News.
Attorneys for Trump wrote in a March 18 filing in the case that it was a "practical impossibility" for the defendants to secure the original, near half-billion dollar bond. They said he had been turned down by over 30 surety companies.
"Very few bonding companies will consider a bond of anything approaching that magnitude," wrote the lawyers, Alina Habba, Clifford Robert, Christopher Kise and John Sauer. They noted that surety providers often require collateral up to 120% to guarantee the bond, driving the amount Trump might need over $500 million.
That filing, made on March 18, listed more than 30 companies the Trump Organization said it approached seeking the larger bond, all of whom declined. The one that ultimately provided Monday's $175 million bond, Knight Specialty Insurance Company, was not on that list.
More from CBS News
Tags:
Reprint:Friends are welcome to share on the Internet, but please indicate the source of the article when reprinting it.“Global Grandeur news portal”。http://djibouti.prpsystems.net/article-34f099887.html
Related articles
'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
sportCHICAGO (AP) — The road for Shota Imanaga from Japan to the major leagues included at least one shar ...
【sport】
Read moreIsrael will respond to genocide charges at UN court after South Africa urgently requests cease
sportTHE HAGUE, Netherlands (AP) — Israel will respond to charges of genocide at the United Nations’ top ...
【sport】
Read moreFederal agency takes control of investigation of fiery train derailment in New Mexico
sportMANUELITO, N.M. (AP) — The Federal Railroad Administration is now leading the investigation of last ...
【sport】
Read more
Popular articles
- Strictly star Giovanni Pernice's former partner Rose Ayling
- Vatican updates norms to authenticate visions of Mary, weeping statues and stigmata
- Disability rights advocate says state senator with violent history shoved him at New York Capitol
- I'm a therapist... here's why women are attracted to 'bad boys'
- Inquiry slams UK authorities for failures that killed thousands in infected blood scandal
- Terrifying moment knife
Latest articles
With Djokovic awaiting the winner, Murray trails Hanfmann at rain
Labour faces 'sh**show' in Islington North as veteran left
Georgia Republican files for divorce from glamorous oncologist after seven children
Who is Robert Fico's wife? Meet the Slovakian Prime Minister's spouse Svetlana Ficova
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
AP Week in Pictures: Global
LINKS
- Intelligent seedling breeding base enhances spring farming efficiency in Chongqing
- Consumption upgrade boosts new productive forces
- New Zealand's dairy giant looks to expand business in China
- Sydney mall stabbing: Officer, bystanders hailed for confronting and stopping attacker
- Israel hails 'success' after blocking unprecedented attack from Iran
- New Zealand's dairy giant looks to expand business in China
- China targets economic growth of around 5 pct in 2024
- Interview: Mercedes
- Ahead of United Methodist gathering, African churches weigh their future
- China's automobile manufacturing sector logs steady expansion in 2023