Current location:Stellar Stories news portal > travel
Trump posts $175 million bond in New York fraud case
Stellar Stories news portal2024-05-21 19:14:07【travel】8People 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
Address of this article:http://india.majalahburung.com/content-89f099887.html
Very good!(9745)
Related articles
- Lynn Williams breaks NWSL goal
- Higher Education Making Steady Progress
- China Issues Guideline to Ramp up Support, Assistance for Disabled
- In Pics: Closing Ceremony of Beijing 2022 Olympic Winter Games
- With Djokovic awaiting the winner, Murray trails Hanfmann at rain
- Athletes Villages Complete Conversion for Paralympics
- NW China's Xinjiang Receives over 190 Mln Tourists in 2021
- Remote Daliang Mountain in SW China Sees Departure of First Bullet Train
- Travis Kelce downs whiskey shot on slice of bread at Kelce Jam without Taylor Swift
- National Ear Care Day Marked Across China
Popular articles
Recommended
I was 'brokefished' by my friend for £400
In Pics: Closing Ceremony of Beijing 2022 Olympic Winter Games
China Releases 5
Winter Sports Take Root in Dual
Why US Catholics are planning pilgrimages in communities across the nation
National Ear Care Day Marked Across China
Shanghai Promotes Community Libraries
In Pics: Opening Ceremony of 2022 Winter Paralympics
Links
- Emily Ratajkowski displays her cleavage and backside as she dons thong in VERY sexy shoot
- US college protests: Over 2,000 arrested during pro
- Francisco Lindor shakes off illness, comes off bench to rally Mets past Cubs 7
- F1 paddock watches to see if Verstappen leaves Red Bull with car builder or if Hamilton lands Newey
- Vegas and Nashville face elimination in Game 6 showdowns vs. Dallas and Vancouver
- Matthew McConaughey hits the dance floor at his niece's Quinceanera in Texas
- Rita Ora shows off her quirky sense of fashion in a pair of kooky safety goggle
- Olivia Dunne teases fans on social media with multi
- Final cost in for Mets' sorry 2023 season $420 million in payroll plus luxury tax
- Kourtney Kardashian shows off her incredible postpartum figure in low