Trump posts $175 million bond in New York civil fraud case: report

Former President Donald Trump has posted $175 million bond in his New York civil fraud case, reports show.

According to ABC News, "Trump secured the bond through Knight Specialty Insurance Company."

Originally, Trump would have been responsible for the full damages amount of over $450 million as bond while he appealed the case. But with hours to spare before New York Attorney General Letitia James would have been empowered to start seizing Trump's real estate holdings, an appeals court gave him 10 more days and reduced the bond to $175 million.

"Trump's lawyers had argued that the former president lacked the cash to secure a bond for the full judgment after being rejected by more than 30 bond companies," reported Aaron Katersky and Peter Charalambous. "Without intervention from an appeals court, defense lawyers argued that Trump would suffer irreparable harm by having to sell off his namesake properties before he exhausted his appeal of the fraud ruling."

ALSO READ: No, Donald Trump, fraud is not protected by the First Amendment

Trump was found liable in this case for systematic fraud in his property valuations, vastly inflating his properties' worth to get more favorable bank loan terms while giving far lower numbers to tax offices.

This is on top of the $83.3 million he owes to writer E. Jean Carroll for defamation pending appeal, and the multiple criminal cases waiting to go to trial against the former president.

ALSO READ: 11 ways Trump doesn’t become president