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Trump Posts $175M Bond in New York Fraud Trial, Signals Intent To Appeal

Former President Donald Trump and his co-defendants have posted a $175 million bond in the civil fraud case, as per recent court documents. 

The bond was facilitated through Knight Specialty Insurance Company, part of the Hankey Group.

The company’s chairman, Don Hankey, expressed support for the defendants and described the decision as a blend of personal backing and business strategy.

Credits: DepositPhotos

He explained how the firm initially declined to cover the original $464 million bond but was approached again after it was reduced to $175 million. 

He also confirmed that both cash and “grade-A” quality securities were put up as collateral. 

Hankey, who acknowledged his financial contributions to Trump’s campaigns, emphasized the collateral’s robustness.

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Credits: DepositPhotos

The New York AG’s office has opted not to comment on this development. 

Trump’s legal team, through attorney Alina Habba, affirmed the bond posting and reiterated their intent to overturn what they deem an “unjust verdict” through the appeals process.

Credits: DepositPhotos

The bond posting follows a judicial panel’s decision to reduce the financial judgment from $464 million to $175 million, providing Trump and his co-defendants a reprieve to appeal the February ruling by Judge Arthur Engoron.

The fines were imposed after the judge determined that there was a decade-long practice of inflating net worth to secure favorable business deals and loans by Trump.

Trump has consistently refuted the allegations.

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Credits: DepositPhotos

They argue that the alleged misrepresentations had no demonstrable impact on the lenders’ decisions.

Should the appeal not yield a favorable outcome for Trump and his associates, they will be liable for the full $464 million judgment.

New York Attorney General Letitia James has expressed readiness to ensure compliance with the judgment through potential asset seizures if necessary.

Credits: DepositPhotos

This is not the first instance of Trump navigating bond arrangements in legal disputes. 

In a separate defamation case filed by writer E. Jean Carroll, Trump arranged a $92 million bond through Chubb Insurance. 

This case, too, is subject to an appeal by Trump, who denies all allegations against him.

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