The bond, reduced from the $464 million judgment that was originally due March 25, prevents the seizure of Trump’s assets while the case is under appeal.
Former President Donald Trump has posted a $175 million bond in the New York civil fraud case, preventing seizure of his assets while the case is under appeal. A state appeals court ruled last week that Trump and his co-defendants had 10 days to post the amount, which was reduced from the $464 million judgment that was originally due March 25.
Knight Specialty Insurance Co., the entity that underwrote Trump’s bond, is part of a group of companies run by Los Angeles-based billionaire Don Hankey, who is No. 128 on the 2023 Forbes 400 list and No. 317 on the 2023 Forbes billionaires list. Hankey has been an investor in Axos Bank, the financial institution that refinanced Trump’s loans on Trump Tower and Trump National Doral Miami in 2022. Axos has lent Trump $100 million in his refinancing of Trump Tower and $125 million more for Doral. Neither loan is due until 2032, according to the Office of Government Ethics disclosure Trump submitted in August.
www.nbcnews.com/politics/donald-trump/trump-posts-175-million-bond-civil-fraud-case-rcna145960