Republican presidential candidate Donald Trump paid his bail of 175 million dollars (163 million euros) on Monday. In doing so, he prevents New York State authorities from seizing his assets until he has appealed the verdict in a civil fraud case. Trump had until Monday to transfer the amount.
In February, the judge fined Trump 454 million dollars (423 million euros). He had to pay that amount before he could appeal against the fine. But the former president complained that he could not afford that amount of money because all his assets are in real estate, mainly in golf courses and buildings. He called the fine “a practically impossible task for any company, even if you are as successful as I am.” For that reason, the bail was lowered to $175 million last week.
Last year, the state of New York filed a lawsuit against Donald Trump and his two sons over financial fraud within their multinational Trump Organization. The three have exaggerated the value of their real estate to lenders by billions of dollars a year to get better loan and insurance terms. If he is acquitted on appeal, the fine will be forfeited and his deposit will be returned.
Trump’s sons must also each pay $4.7 million for their role in the fraud case. The company’s former chief financial officer has been fined 1.1 million euros.
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