Sun. Jul 21st, 2024

Trump paid $175 million bail and avoided seizure of property

Natasha Kumar By Natasha Kumar Apr2,2024

Trump paid $175 million bail and avoided seizure of property

Illustrative photo from open sources

< p>Former US President Donald Trump paid a $175 million appeal bond in a civil fraud case – The bail amount was previously reduced by the New York Court of Appeals. This will ensure that the state of New York will not yet begin to confiscate Trump's assets, CNN reports.

It is noted that the former US president posted bail in order to avoid the confiscation of his own assets.

"Trump's bail halts any action James might take against Trump's estate in response to the court's decision until at least September, when a state appeals court will also set a hearing on his appeal of the $464 million against him" – the report said.

CNN notes that Donald Trump secured the bail through Knight Specialty Insurance Company.

The report also noted that Trump said at a news conference last month that is using the cash to cover the bail, but also claimed that he wants to use the cash to finance his re-election campaign.

BAGNETpreviously reported that Trump did not have money for the bail by fraud case.

Prepared by: Sergey Daga

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my 1-800-268-7116

Related Post