Former President Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, temporarily halting the enforcement of the full $464 million in penalties he faces after a high-profile ruling earlier this year. The bond payment, reported by The Associated Press, came as New York officials were gearing up to potentially seize Trump’s assets or properties to satisfy the judgment.
The ruling found that Trump, his adult sons, and Trump Organization executives were involved in a decade-long scheme to fraudulently inflate the value of his net worth and assets. Trump obtained Monday’s payment through Knight Specialty Insurance Company, according to ABC News.
Trump’s attorney, Alina Habba, stated, “As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict.”
If the appeal is unsuccessful, the defendants could face a $364 million penalty plus $100 million in interest, with Trump alone potentially facing additional post-judgment interest of over $110,000 a day. Trump has repeatedly claimed that the investigation, initiated by New York Attorney General Letitia James nearly two years ago, is politically motivated.
The former president is also dealing with other legal battles, including a defamation lawsuit with writer E Jean Carroll. Trump has been spending millions on legal fees for various civil and criminal cases in federal and state courts, with one of his political action committees reportedly spending $230,000 a day on legal expenses in February. Despite claiming to be a multi-billionaire, Trump said last month that he has around $500 million in cash on hand.