On Monday, President Donald Trump posted his $175 million bond in his New York civil fraud case, thus preventing state authorities from seizing his assets and allowing him to appeal the ruling against him.
As Breitbart reports, President Trump has appealed the ruling by New York Supreme Court Judge Arthur Engoron, who determined that President Trump, Donald Trump Jr., Eric Trump, and two former executives of the Trump Organization committed fraud by inflating the value of the company’s assets in order to increase profit. This ruling came despite the testimony of key witnesses who stated that the exact opposite was true, and that their companies made profits doing business with the Trump Organization, as well as their own personal opinions that Trump did not commit any fraud.
Following Engoron’s ruling, President Trump’s bond was initially set at $50 million. Last week, an appellate court reduced the bond to $175 million, while giving Trump an extra ten days to post it.
“I greatly respect the decision of the appellate division and I’ll post the $175 million in cash or bonds or security or whatever is necessary very quickly within the 10 days, and I thank the appellate division for acting quickly,” said Trump last week.
The case was brought against President Trump by far-left New York Attorney General Letitia James (D-N.Y.), who explicitly campaigned for the office on the promise that she would target the former president, as his company and most of his assets are based in New York.
President Trump has vowed to take his appeal of Engoron’s decision “all the way to the U.S. Supreme Court if necessary.” If the appeal is ultimately denied, President Trump will have to pay $454 million in the civil judgment.