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Former President Donald Trump has paid $175 million in bail for the civil case against him in New York where he was found guilty of wealth fraud. By posting the bond, Trump avoids the seizure of his assets by state authorities.
Republican Trump, who is expected to face Democratic President Joe Biden in the November election, was found guilty on February 16 of artificially inflating assets worth billions of dollars in order to obtain loans and secure business deals on better terms.
Judge Arthur Engoron's February 16 ruling called for former President Trump to pay a $454 million fine, but on March 25, the Court of Appeals decided to stay the execution of the fine if Mr. Trump could post a bond. of 175 million dollars within 10 a 10 day period.
The three-judge panel of appeals in New York is expected to consider Trump's appeal of the decision.
The decision to reduce the amount of bail Mr. Trump must post is not an indication of how the three-judge panel may ultimately rule.
The bail decision averts the seizure by New York Attorney General Letitia James of Mr. Trump's assets, including Trump Tower and his Westchester resort and golf course and his Mar-a-Lago estate in Florida.
Former President Trump has denied any wrongdoing and has declared that the case brought against him is a witch hunt for political purposes, by the prosecutor James, chosen from among the Democrats, who filed the lawsuit against him in 2022.
In his 92-page ruling, Judge Engoron detailed how Mr. Trump directed his team to alter the value of his assets in order to achieve a desired net worth before entering politics.
This case is one of the legal challenges that former President Trump is facing, including the criminal case against him in New York, for which the trial is expected to take place on April 15, where he is accused of paying an actress of pornographic films, in in exchange for her silence about the alleged relationship with Mr. Trump. The former President has declared that he is innocent.
He has also been charged in two other cases for trying to overturn his 2020 election loss to Mr. Biden, as well as in the case of keeping classified documents after he left the White House in January 2021.
Trials in these cases are not expected to begin before the November elections.
For all the charges raised in them, Mr. Trump has declared that he is innocent. /VOA
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