Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty
apnews.com
Donald Trump has posted a $175 million bond in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals.

cross-posted from: https://lemmy.world/post/13809838

The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.

If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.

  • style99@kbin.social
    7·
    8 months ago

    The company that underwrote the bond is Knight Specialty Insurance, which is part of the Knight Insurance Group. The chairman of that company, billionaire Don Hankey, told The Associated Press that both cash and bond were used as collateral for Trump’s appellate bond.

    A fresh back for Trump to stick a knife into.

    • PorradaVFR@lemmy.worldEnglish
      6·
      8 months ago

      More like a new puppet master yanking his strings.

      Imagine any other politician so blatantly subject to influence. He owes everyone and nobody actually likes him. He’ll stiff those he can….but what will he do for those he cannot?

      Hypothetically: maybe grab a few boxes of classified documents?

      ….nah, that could never happen. DOJ and FBI would be all over that.