AGS NEWS – Donald Trump, the former US President, has submitted a $175 million bond in his civil fraud case in New York, aiming to prevent the seizure of his assets.

The bond serves to safeguard his assets while he appeals his case, which revolves around allegations of inflating business values, as per a court filing.

ALSO READ: New poll shows Trump leading Michelle Obama by 47-44 in hypothetical 2024 election

A New York appellate court granted Trump ten days to furnish the bond after a panel of judges reduced the required amount to pause enforcement.

The bond functions as a placeholder, ensuring payment if the judgment stands. In case of affirmation, Trump must pay the full sum, which accumulates daily interest.

Should Trump emerge victorious, he won’t owe the state anything and will retrieve the bond amount.

Prior to the court’s intervention, New York Attorney General Letitia James had planned to pursue the judgment by seizing Trump’s properties, including his notable real estate holdings.

James, representing the state, initiated the lawsuit, vowing to seize assets if Trump didn’t satisfy the court’s $454 million judgment from his New York trial on fraud charges.

Trump contested the ruling, asserting that his financial disclosures undervalued his assets and were not taken at face value by lenders or insurers.

ALSO READ: New York alleges Trump fraudulently inflated net worth by up to $3.6 billion

The appellate court’s decision to lower the bond amount followed Trump’s contention that securing an underwriter for the original sum was impractical.

The case, set to be heard in September, continues Trump’s legal battle over his financial disclosures, a key issue during his presidency.