Former United States President Donal Trump has posted a $175m bond in his civil fraud case in New York, avoiding asset seizures which could have dealt a serious blow to his finances and reelection hopes.
Trump, who is set to face off against US President Joe Biden for the presidency in November, was in February found liable for misrepresenting his net worth by as much as $2bn to secure better terms for loans and insurance.
An appeals court last week ordered Trump, his adult sons, and two former Trump Organization executives to pay the sum within 10 days, allowing them to avoid paying a $454m bond set by a different judge.
Trump’s lawyers had argued that securing a bond for the full judgement was practically impossible after more than 30 insurance companies refused to accept Trump’s cash and real-estate holdings as collateral.
A three-judge panel of the appeals court is still to rule on the merits of Trump’s appeal.
Trump has denied wrongdoing, claiming that he actually underestimated his fortune and that financial institutions did not take his valuations at face value.
