Donald Trump can keep his cherished properties instead of having them seized by New York’s Attorney General — at least for now – after he posted a whopping $175 million bond!
As you know … the former prez was saddled with a $454 million bond in his civil fraud case brought by AG Letitia James, but he appealed and got the amount slashed to $175 mil.
On Tuesday, DT took to his Truth Social platform to gloat right after paying the lesser, but still staggering bond amount. He also blasted James and the case judge, calling them corrupt and the whole situation election interference. No shocker there.
As for the back story … James claimed that DT was fraudulently inflating his net worth by billions to secure better loans, and the judge agreed with the AG.
Trump was slapped with a $464 million judgment — and the judge ordered him to pay a $454 million bond to appeal the decision, which accounted for most of the fraud judgment against the ex-prez.
Trump’s attorneys argued that 45 couldn’t cough up the hefty sum in the time allotted by the court — ten days. James threatened to seize Trump’s prized assets, eyeing such notable buildings as Trump Tower and 40 Wall Street.
But, last week, Trump’s lawyers asked an appellate court to lower the bond, and his request was granted, cutting it by more than half.
Trump secured the bond Monday with the help of Knight Specialty Insurance Company, which underwrote the grand total. Basically, the insurance company promised the NY court that it will pony up the entire bond if Trump loses on appeal and doesn’t have the cash to cover it.
While that was some good news for Trump, there was also some really bad news yesterday for Trump.
Trump Media’s stock shares — which includes Truth Social — plummeted by more than 21 percent, causing DT to lose about $1 billion in net worth in a single day.