Donald Trump has posted a $175 million bond to temporarily halt the collection of a more than $454 million civil fraud judgment against him in New York while he appeals the decision. The bond, underwritten by Knight Specialty Insurance, is a guarantee of payment if his appeal fails. If Trump wins the appeal, he will not have to pay the state and will be refunded the bond. Trump's legal team aims to overturn the judgment, which found that Trump lied about his wealth for business advantages. The appeal is set for a hearing in September, potentially coinciding with the presidential race. New York Attorney General Letitia James, who brought the lawsuit, declined to comment on the bond posting. Trump has also faced other legal financial obligations, including costs from defamation lawsuits and other legal battles.
Read the full article here.