Former President Donald Trump posted the $175 million bond on Monday for his New York civil fraud case. Trump’s bond posting comes just one week after a New York appeals court ruled that the former president had 10 days to post a $175 million bond instead of the $454 million bond plus interest originally demanded by New York Judge Arthur Engoron.
In a Monday post on Truth Social, Trump wrote, “I’ve just posted a 175 Million Dollar Bond with the sadly failing and very troubled State of New York, based on a Corrupt Judge and Attorney General who used a Statute that was never used for this before, where no Jury was allowed, my financial statements were conservative and had a 100% perfect caution/non-reliance clause, there were no victims (except me!), there was no crime or damage, there was only success and HAPPY BANKS.”
Fox News reported that if Trump wins his appeal of Engoron’s ruling that the former president, his sons, and the Trump Organization committed business fraud by falsely inflating business assets, Trump will not have to pay the state any money and will be reimbursed the money he posted for Monday’s bond. On the other hand, if Trump loses his appeal of Engoron’s ruling, he will be forced to pay the $454 million plus interest, which continues to increase each day.
Trump’s bond posting prevents New York Attorney General Letitia James from attempting to seize his assets, something the Democratic attorney general had previously threatened.
READ MORE: Video: Trump says he has $175 million bond in ‘cash’
According to Fox News, the New York Appellate Division has indicated that it will hear arguments on Trump’s appeal in September. While an exact date has not yet been announced for the court hearing, Fox News reported that the hearing will likely take place in the final stretch of the 2024 presidential race.
In Trump’s Truth Social post following Monday’s bond posting, the former president described the business fraud case as a “fabricated ELECTION INTERFERENCE con job” and a “WITCH HUNT.” Trump argued that the case is “so bad for New York” and claimed that the state is losing businesses while violent crime continues to increase.
“The Crooked Judge, to suit his narrative, valued Mar-a-Lago, in Palm Beach, Florida, at $18,000,000, when it is worth 50 to 100 times that amount,” Trump added. “He ruled I was guilty before he ever saw the case. He should be disbarred, and Letitia James, who campaigned on getting TRUMP, Impeached. Also posted a 91 Million Dollar Bond on another New York Fake Case, money I can’t use on my campaign. Just what Crooked Joe wanted.”
