Former US President Donald Trump has signed a $175 million bond for fear of losing his assets to the government in a New York fraud case.
He was convicted last February of failing to account for $2 billion in assets in the case.
Trump, who ran alongside President Joe Biden, misrepresented his assets to get better terms on loans and insurance, according to court filings.
But signing the bond temporarily saved his assets from being seized, which would have cost Trump both financially and politically.
Last week, a New York appeals court ordered Trump, his adult son and two of his company’s officials to pay the bond within 10 days, overturning a $454 million bond ordered by another court.
More than 30 insurance companies have refused to accept Trump’s money as collateral, making it impossible to raise money for the bond, Trump’s lawyers said.
Trump has denied the accusations against him, citing a lack of accurate understanding of his wealth and financial institutions’ accounting of his wealth.
