Donald Trump posted a $175m bond on Monday in his New York civil fraud case, temporarily stopping enforcement of the full $464m in penalties facing the former president after he lost in a high-profiling ruling earlier this year.
The bond payment, reported by The Associated Press, came as New York officials were preparing to potentially seize Mr Trump’s assets or properties to fulfill the judgment, which found that the former president, his adult sons, and Trump Organization executives were liable in a decade-long scheme to fraudulently inflate the value of his net worth and assets.
Last month, an appeals court gave Mr Trump a 10-day extension to pay off the bond, which will remain in the hands of New York officials pending Mr Trump’s appeal of the underlying fraud decision.
If the appeal is unsuccessful, the defendants in the case face an underlying $364m penalty and $100m in interest, and could end up paying even more, with the former president alone facing post-judgement interest on the punishment of more than $110,000 a day.
Alex Woodward contributed reporting to this story.
This is a breaking news story and will be updated with new information.