Last week, a New York appeals court upheld the initial $454 million fine imposed on Mr. Trump. reduced the bail amount to 175 million US dollars. US dollars and gave him another 10 days to fulfill the obligation to pay it.
With bail set at nearly half a billion dollars, there was the possibility that New York authorities would move to seize Trump’s assets if he defaulted on bail, but after the bail was lowered and, as reported Monday, a company was found to post the bail, Trump could breathe easier.
“I fully respect the decision of the Appellate Division and the 175 million I will pay the US dollar bail in cash and bonds or securities or other appropriate means very quickly, within 10 days,” Trump said at the time.
Knight Specialty Insurance Company of California lent him a helping hand. The court announced on Monday that she intends to pay the bail.
The 77-year-old real estate tycoon, who once again secured the Republican presidential nomination, was fined after Judge Arthur Engoron found him and his two adult sons guilty of lying about the value of his family’s wealth in order to defraud banks and insurance companies.
They have been accused of inflating the value of properties such as Trump Tower and other buildings by billions of dollars to secure better terms for bank loans and insurance.
According to A. Engoron’s decision, D. Trump had to pay 454 million. USD bail, but the former president appealed this ruling.
D. Trump is in the crosshairs of prosecutors for several crimes against him, including falsifying business documents, paying a witness to remain silent, and attempting to repeal the 2020 election results, when a mob of his supporters, incited by D. Trump, stormed the US Congress.
