Former President Donald Trump posted a $175 million bond in the New York civil fraud lawsuit to protect his assets during the appeal. Last Monday, a state appeals court gave Trump and his co-defendants 10 days to post the reduced $464 million judgment from March 25.
Before last week's ruling, Trump owed $454 million, most of the fraud judgment, but interest had increased his debt by more than $111,000 daily. On Monday, Trump attorney Alina Habba predicted his appeal victory.
President Trump posted bond as promised. Habba stated that he hopes to overcome this unjust verdict on appeal. If Trump loses on appeal, he must pay over $450 million from New York Attorney General Letitia James' fraud prosecution. Trump and top Trump Organization executives willfully inflated his assets in financial records to illegally claim favorable loan and insurance rates, a judge concluded.
Knight Specialty Insurance Co., which underwrote Trump's bond, is part of Los Angeles billionaire Don Hankey's collection of firms, which ranks 128 on the 2023 Forbes 400 and 317 on the Forbes billionaires list.
Hankey invested in Axos Bank, which refinanced Trump Tower and Trump National Doral Miami loans in 2022. Trump borrowed $100 million from Axos to refinance Trump Tower and $125 million for Doral. Trump disclosed in August to the Office of Government Ethics that neither loan is due until 2032.
Trump is also appealing a January New York jury verdict that gave writer E. Jean Carroll $83 million in damages for defamation. In another appeals case, a federal court authorized Trump's $91.63 million bond last month.
Trump posted on Truth Social on Monday night about the $175 million bond and the $91 million E. Jean Carroll bond. He denounced James, New York's crime rate, and the civil fraud judge without naming him.
The Manhattan district attorney's hush money case against Trump will be tried this month. Trial begins April 15. He also faces three other felony allegations, including deliberate retention of classified data and state and federal election meddling. Trump has denied all claims.
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