Trump pays up $270m
Insurer posts bond in fraud case as family rallies round
NEW YORK: Embattled former US president Donald Trump has posted a $US175m ($270m) bond in his New York civil fraud case, avoiding having to pay a $US454m penalty while his case winds through the appeals process.
A New York appeals court cut the $US454m bond he was originally required to pay, reducing the sum to $US175m and giving him 10 days to pay.
The near-half-a-billion dollars he originally owed had raised the possibility that New York authorities would move to seize Mr Trump’s assets if he could not pay, but the reduction, and finding a company to put up the bond, has given him breathing room.
The lifeline has come from a California outfit called Knight Specialty Insurance Company, which announced the bond in a document released by the court on Monday.
The 77-year-old real estate magnate, who has once again clinched the Republican nomination, received the fine after Judge Arthur Engoron found him and his two adult sons guilty of lying about the value of Trump assets, deceiving banks and insurers.
Mr Trump is in prosecutors’ crosshairs for a series of alleged crimes, ranging from falsifying business records in the hush money case to trying to overturn the 2020 election and stoking a mob of supporters to march on congress.
Mr Trump asked supporters for donations after sending an April Fool’s joke that he had suspended his campaign.
His joke had a quick response from US President Joe Biden’s team, who posted: “Trump hasn’t campaigned in 16 days – so not sure what the difference is.”
But Mr Trump aims to jump-start his campaign on Tuesday with back-to-back rallies in Michigan and Wisconsin, two crucial states in his bid to defeat Mr Biden in November’s election. He has held just one rally since his rematch with Mr Biden was all but confirmed nearly three weeks ago and he wants to end any speculation that he is slowing down.
He’ll hit the trail after an Easter weekend in which he hosted family at his Mar-aLago estate in Florida. His son Barron, 18, towered over his mother Melania in a rare public sighting as the pair arrived at the brunch.
Other family members in attendance were Donald Trump Jr and Eric Trump with wife Lara and their children.