politics @lemmy.worldEnglish · 7 months ago

Donald Trump posts $175 million in civil fraud case, halting collection of massive judgment

apnews.com

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Donald Trump posts $175 million in civil fraud case, halting collection of massive judgment

apnews.com

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politics @lemmy.worldEnglish · 7 months ago

cross-posted to:
news@lemmy.world

Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty

apnews.com

Donald Trump has posted a $175 million bond in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals.

The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.

If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.

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Knight Specialty Insurance Company is looking to lose some money.

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