Trump agrees to pay $175 million bond in fraud case
Presumptive Republican presidential nominee Donald Trump has agreed to pay a $175 million bond in a civil fraud case in New York as his appeal in the litigation continues.
"We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash," Trump stated on Monday on Truth Social.
A state appeals court released an order Monday that Trump, who along with his company and top executives had been ordered to pay a judgment of $464 million after being found guilty of fraud, will have the judgment paused if he can pay a $175 million bond within the next 10 days.
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Trump denounced the decision rendered against him, declaring in all capitals that "I did nothing wrong, and New York should never be put in a position like this again."
"Businesses are fleeing, violent crime is flourishing, and it is very important that this be resolved in its totality as soon as possible," the former president continued, also in all capitals.
A spokesperson for the New York attorney's office clarified to The Hill in a statement on Monday that the $464 million judgment against Trump and his business remains.
"Trump is still facing accountability for his staggering fraud," stated the spokesperson. "The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family and his organization."
Last month, Judge Arthur Engoron of the Supreme Court of the State of New York, New York County, issued a judgment against Trump, his son Donald Trump Jr., the Trump Organization and other defendants in a fraud case.
According to the litigation, Trump and his associates engaged in financially fraudulent activities, namely unlawfully manipulating his net worth to defraud lenders.
The judgment came without a jury and was the result of a years-long investigation overseen by Democrat New York Attorney General Letitia James and her office.
"Their complete lack of contrition and remorse borders on the pathological," wrote Engoron. "Donald Trump is not Bernard Madoff. Yet, defendants are incapable of admitting the error of their ways."
Trump denounced the decision and expressed his intention to appeal the case. Trump has reportedly struggled to secure the money necessary to pay the $464 million bond.
A couple of days before an initial deadline to pay the judgment arrived, a majority of shareholders for Digital World Acquisition Corp. voted to merge with Trump Media, giving Trump shares worth around $3 billion and the possibility of being able to pay off the bond with plenty of cash left over.
However, Matthew Kennedy of Renaissance Capital told CNN that "President Trump won't be able to monetize that stake right away," still putting him in possible financial peril.
