(ProsperNews.net) – Former President Donald Trump has posted the $175 million required to stop the clock on his New York civil penalty and prevent the seizure of his real estate assets. In March, an appeals court ruled in Trump’s favor, saying he did not have to post the entire $464 million to launch an appeal against Judge Arthur Engoron’s guilty verdict, which found he had committed fraud by overvaluing his assets.
Writing on his Truth Social media account, Trump said there were no victims in the case and only “happy banks.” He confirmed he had paid the $175 million and once again lashed out at the judge and New York Attorney General Letitia James, whom he called corrupt and accused of using a law never previously utilized in the same context to punish him politically.
Mr. Trump’s attorney, Alina Habba, said she remains confident that the ruling will be overturned. “He looks forward to vindicating his rights,” she told reporters.
Knight Specialty Insurance Co., based in Los Angeles, underwrote the $175 million bond. Billionaire Don Hankey owns the company and is also an investor in Axos Bank, which loaned the former President $225 million to refinance his New York skyscraper, Trump Tower, and the Trump National Doral Miami in 2022.
Last month, Mr. Trump also posted a second bond in a New York court after it found him liable for assaulting and defaming author E. Jean Carroll, who claims he raped her in the 1990s. He posted $91 million in that case, which he also intends to appeal. Ms. Habba expressed similar confidence that the Carroll decision was unjust and would be reversed.
Trump appealed for more time to post the $91 million, but Judge Lewis Kaplan refused, saying he had taken too long to make the request. “Mr Trump’s current situation is a result of his own dilatory actions,” Kaplan said. The former President likewise accuses Kaplan of corruption, calling him a “federal Democrat Trump-deranged judge.”
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