Trump posts $175 million bond in civil fraud case

Embattled former US president DonaldTrump posted a $175 million bond in his New York civil fraud case Monday, acourt document showed, avoiding payment of a $454 million penalty while hiscase winds through the appeals process.

Last week, a New York appeals court cut the $454 million bond payment he wasoriginally required to pay, reducing the sum to $175 million and giving him10 days to pay this smaller amount.

The nearly half billion penalty he originally owed had raised the possibilitythat New York authorities would move to seize Trump assets if he could notpay, but the reduction -- and his finding a company to put up the bond, asannounced Monday -- has given him breathing room, reports BSS.

"I greatly respect the decision of the appellate division and I will post$175 million in cash and bonds or security or whatever is necessary veryquickly, within the 10 days," Trump said at the time.

The lifeline has come from a California outfit called Knight SpecialtyInsurance Company, which announced the bond in a document released by thecourt Monday.

The 77-year-old real estate magnate, who has once again clinched theRepublican nomination, received the fine after Judge Arthur Engoron found himand his two adult sons guilty in a non-jury trial, ruling that they and hisfamily company lied about the value of assets, deceiving banks and insurers.

Trump is in prosecutors' crosshairs for a series of alleged crimes, rangingfrom falsifying business records in the hush money case to trying to overturnthe 2020 election, when he became the first president in modern US history torefuse to concede and stoked a mob of supporters to march on Congress.