The former president can avoid liens in fraud proceedings involving incorrectly reported real estate values. He left a security deposit.
Donald Trump is currently criminally charged in four cases Photo: dpa
NEW YORK afp | Former US President Donald Trump deposited a security deposit of $175 million (€163 million) on Monday in a civil lawsuit for corporate fraud to prevent asset seizures. This is clear from a published judicial document.
Trump had appealed the conviction for corporate fraud and had until Thursday to pay the security deposit, equivalent to a bond, covered by a California insurance company.
In the civil business fraud case, Trump and his sons were found guilty of artificially inflating the assets of their real estate empire over the years to obtain favorable terms from banks and insurance companies. Trump was therefore sentenced in February to a fine of around $355 million plus interest, which amounted to about $454 million.
Trump, who wants to run again as a Republican candidate in the November presidential elections, appealed the sentence and, therefore, did not have to pay the fine for the moment. However, he had to provide security so that an appeals process could take place.
Trump was originally supposed to deposit $454 million.
Trump was originally given bail of $454 million. However, his lawyers said last month that the billionaire was unable to do so. The background is that most of Trump's assets are tied up in real estate and are not immediately available to him in cash.
A New York appeals court then significantly reduced the required guarantee to $175 million. “I deeply respect the court's decision and will deposit the $175 million in cash, bonds or collateral,” Trump said at the time.
The former president has had difficulties with the judiciary in several cases. He is criminally charged in four cases, including her attempts to later reverse his election loss against incumbent Democratic President Joe Biden.
A criminal case involves the alleged falsification of business documents to disguise a money payment to porn actress Stormy Daniels. In the trial, the judge responsible for New York, Juan Merchán, ordered a limited ban on expression against the former president last week. As a result, Trump is prohibited from publicly commenting on witnesses, prosecutors, court employees, their families or jurors.
Trump's criminal trial begins April 15
It was imposed after Trump had previously insulted Judge Merchan and his daughter in numerous posts on his Truth Social online platform. On Monday, the judge extended the ban to his family and that of the prosecutor.
The trial begins on April 15 and has a historic dimension: it is the first criminal trial against a former president in the history of the United States.
Trump is resorting to delaying tactics in his legal disputes to postpone, if possible, verdicts until after the November presidential election, in which he is expected to run again for the Republicans against Democrat Biden.