On Monday, former president Donald Trump posted a $175 million bond to prevent New York authorities from seizing his assets, including properties such as Trump Tower, pending appeal of a civil fraud judgment against him of nearly a half-billion dollars.
His posting of the bond was necessary to keep New York Attorney General Letitia James (D) from initiating legal steps to take over his properties. The bond arrangement was made with Knight Specialty Insurance Company, according to a court document.
After a 10-week trial late last year, New York Supreme Court Justice Arthur Engoron found Trump, the Trump Organization, Trump’s two adult sons and two former executives liable in February for using illegal tactics to knowingly cheat business partners to increase the company’s profits and savings.
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