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Friday, April 19, 2024

USA. Donald Trump posted bail in fraud case

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On Monday, Donald Trump posted $175 million bail in his civil fraud case in New York. The former US president and Republican candidate in the upcoming elections will thus avoid the seizure of real estate, including Trump Tower or the Mar-a-Lago estate in Florida.

Donald Trump posted $175 million as bail on Monday in a civil fraud case. The former US president was originally supposed to post a bail of $454 million, but his lawyers claimed it was “virtually impossible” because no company agreed to vouch for Trump in exchange for real estate as collateral. On March 25, an appeals court stayed the execution of Judge Arthur Engoron's sentence on condition that Trump pay a smaller amount within 10 days.

In this way, the former US president will avoid having his assets seized by state authorities in connection with the verdict announced in February.

Former US President Donald TrumpSARAH YENESEL/PAP/EPA

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Trump convicted of fraud

In February, U.S. District Court Judge Arthur Engoron ordered Trump and his company, the Trump Organization, to pay $454 million and banned him and his sons from doing business in the state for three years.

The reason was the businessman's long-standing practice of inflating the value of his assets in declarations to financial institutions in order to obtain better terms for loans and credits.

The bond prevents New York Attorney General Letitia James from seizing Trump's properties, including Trump Tower, his 370-acre resort and golf course in Westchester, and his Mar-a-Lago estate in Florida.

Main photo source: SARAH YENESEL/PAP/EPA



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