- According to a court document, former President Donald Trump and his co-defendants in their New York civil fraud lawsuit have obtained a $175 million bail.
- Through Knight Specialty Insurance Company, Trump obtained the bond.
- “President Trump has posted bond, as promised,” his lawyer Alina Habba said in a statement on Monday night. “He looks forward to vindicating his rights on appeal and overturning this unjust verdict.”
- The former president, his adult sons, and two former Trump Organization executives were given a 10-day stay of the $464 million verdict in their civil fraud case last week by a panel of judges from New York’s Appellate Division. They were also allowed to deposit a reduced bail of $175 million.
- After being turned down by more than thirty bond agencies, Trump’s attorneys had maintained that the former president did not have the funds to get a bail for the whole judgment.
- Defense attorneys contended that Trump would incur irreversible damages if he had to liquidate his namesake properties prior to exhausting his appeal of the fraud verdict, unless an appeals court intervened.
Source:
ABC News
