NEW YORK, NEW YORK - OCTOBER 3: Former U.S. President Donald Trump appears in the courtroom with his lawyers for his civil fraud trial at New York State Supreme Court on October 03, 2023 in New York City. Former President Trump may be forced to sell off his properties after Justice Arthur Engoron canceled his business certificates and ruled that he committed fraud for years while building his real estate empire after being sued by Attorney General Letitia James, who is seeking $250 million in damages. The trial will determine how much he and his companies will be penalized for the fraud. (Photo by Shannon Stapleton-Pool/Getty Images)
On Monday, Donald Trump posted a $175 million bond to stop the collection of a half-billion dollar judgment in the New York civil fraud case against him. The bond prevented state authorities from seizing his assets while he appealed the verdict.
Last week, a panel of appellate judges ruled he could post a $175 million bond, which was significantly lessened from the $454 million he owes. Trump’s lawyers argued that he did not have the cash to cover the full amount, as he had been rejected by multiple insurance companies.
According to court filings, Knight Insurance Group provided the $175 million he and the other defendants—including his adult sons and other business associates—posted on Monday.
Knight is owned by billionaire Don Hankey, who is major Republican donor and investor in some of Trump’s other ventures.
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The former president will have to pay the remaining amount if the appeals courts upholds the judgment, which could take months or years.
In addition to the civil fraud case, Trump is facing a host of other financial challenges. Last month, he posted another bond of $91.6 million in a civil defamation case brought by E. Jean Carroll.
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