© AP Photo / Butch Dill2024 Presidential candidate Donald Trump
What is Trump's civil fraud case about?
Trump is facing a New York civil case where he was found liable for inflating his net worth to obtain better loan and insurance terms, resulting in a massive judgment against him.
Billionaires who rallied to support Trump
Billionaire hedge fund founder John Paulson and oil magnate Harold Hamm are among the prominent figures involved in this effort. They were seeking financial aid to help Trump pay the bond amount. Reuters reported that a donor offered more than $10 million towards the bond over the weekend, but was later told it was not necessary.
© CopyrightBillionaires Harold Hamm and John Paulson
It is not necessary to disclose the sources of funds obtained to pay for the bonds. Earlier, Trump paid a $91.6 million bond after he lost the defamation case against writer E. Jean Carroll.
Donors' contributions toward the bond may attract regulatory scrutiny, if they go over campaign contribution limits.
Relief from the $454 million bond deadline
On March 25, 2024, the former president was granted relief from paying $454 million and asked to pay a smaller $175 million bond within 10 days to delay the enforcement of the judgment.
Trump told reporters in New York that he would post either the $175 million in cash or bonds or securities or whatever is necessary, very quickly.
What would have happened if Trump didn't meet bond deadline?
Failure to meet the bond deadline could have led to the seizure of Trump's assets, including prime real estate holdings like 40 Wall Street in Manhattan.
Reader Comments
to our Newsletter