2024-04-06 15:51:57
Former US President Donald Trump has posted $175 million in bail to appeal his fraud ruling. ABC TV channel reported this on Monday with reference to court documents, Day.Az reports with reference to TASS.
As noted, Trump secured the bail through the insurance company Knight Specialty.
On February 16, the court found Trump guilty of fraud in the valuation of the assets of the Trump Organization and ordered him to pay about $355 million. The total fine increased to $454 million, including interest. In addition, the Republican was prohibited for three years from serving as an employee or director of any corporation in the State of New York and from applying for loans from any financial institution registered in the State of New York. Trump appealed the ruling. A New York court set an April 15 trial date after the former president agreed to pay bail to appeal the decision in the case.
The lawsuit was sent to court in September 2022. According to prosecutors, the Trump Organization misrepresented the value of assets in order to obtain more favorable terms on loans and insurance. The value of assets was inflated by $2.23 billion to $3.6 billion. As the department insists, the value of Trump’s estate in Florida, his apartments in the Trump Tower skyscraper in Manhattan, some office buildings and golf courses were inflated. The defense insists that the charges are unfounded, and the price of the property could have changed over time due to objective circumstances.
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