Trump posts bond to freeze US$454M fraud fine during appeal

Donald Trump followed through on his vow to pay a US$175 million bond to put a massive civil fraud verdict on hold while he appeals it, assuring New York state won’t start seizing the former president’s assets, at least for now.

The bond, posted Monday with a Manhattan appeals court, prevents enforcement of a $454 million penalty levied by a judge against the real estate mogul in February for lying about his assets for years to get better loan terms. Trump, who is campaigning to return to the White House in the November election, is still on the hook for the full amount — plus millions in interest — if his appeal fails. 

Trump initially had struggled to get a bond because he was required to put up 120 per cent of the full penalty, or more than half a billion dollars, in cash. But the appeals court on March 25 granted his request for a smaller bond, which Trump claimed was a sign the appeals court would eventually overturn the verdict.

“As promised, President Trump has posted bond,” his lawyer Alina Habba said in a statement. “He looks forward to vindicating his rights on appeal and overturning this unjust verdict.”