Trump Posts $175M Bond in NY Fraud Case
Former Pres. Donald Trump has posted a $175M bond, underwritten by Knight Speciality Insurance, related to his appeal of the New York civil fraud judgment against him....
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Facts
- Former Pres. Donald Trump has posted a $175M bond, underwritten by Knight Speciality Insurance, related to his appeal of the New York civil fraud judgment against him.1
- Trump in February was found guilty of overstating the value of his assets to loan and insurance companies to secure financial agreements. He has denied the allegations, with the bond pausing the seizure of $465M in penalties as a guarantee of payment while he appeals.2
- New York's Supreme Court had ruled the bond to be priced at $465M, but that was reduced on March 25 by an appellate court. Trump and his co-defendants were given 10 days for the bond to be secured post-appeal.3
- Without a posted bond, New York Attorney General Letitia James had threatened to seize property and freeze bank accounts. Trump's legal team had argued within appeal that a $465M bond was impossible to secure.4
- Trump owes $454M, not including a 9% annual interest rate. It's believed he holds roughly $413M in cash and liquid assets. In a separate case, he has posted a bond worth $92M while he appeals a $83M defamation judgment.5
- These judgments coincide with Trump Media & Technology Group going public last week. Although the stock's price fell by approximately 20% Monday, the former president is estimated to have currently seen a $4B increase in net worth.6
Sources: 1Documentcloud (a), 2Associated Press, 3Documentcloud (b), 4BBC News, 5Forbes and 6ft.com.
Narratives
- Pro-Trump narrative, as provided by WLT Report. Once again, Trump has struck a blow against the weaponized legal system. Despite the best attempts of the deep state, James won't be able to get her hands on Trump's assets. Trump is one step closer to overturning New York's ridiculous, politicized ruling.
- Anti-Trump narrative, as provided by CNN. It may not seem like it at first, but Trump posting bond could help Democrats, who stood to lose more ground if Trump had had his assets seized. The former president always gains when he and his supporters feel he's been treated unfairly. Now there's one less thing he can complain about.
