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Donald Trump posts $175 million bond and avoids confiscation of his assets

Donald Trump has posted a $175 million (£140 million) bond in New York, stopping the state from seizing his assets.

The former US president was given ten days to make the payment after his lawyers successfully applied for a $454 million (£362 million) bail reduction.

However, sir Trump card is obliged to pay the full amount – plus daily interest – if he loses the appeal in the civil fraud case.

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Trump lashes out at press conference

New York Attorney General Letitia James was prepared to begin seizing the 77-year-old’s properties unless bail was posted.

He was found guilty in February of defrauding banks and insurers for years by inflating his assets using financial reports used to secure loans and close deals.

Mr. Trump, who has secured the Republican nomination Heading into this year’s general election, he has frequently claimed he is worth billions of dollars and said last year he had $400 million in cash in addition to real estate and other investments.

He has repeatedly denied wrongdoing and argued that the statements actually underestimated his wealth.

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Trump: Judge is “a disgrace to this country”

Trump ordered the attacks on the judge’s family to stop

There were also developments in a separate trial against Mr. Trump involving a hush-money payment to porn star Stormy Daniels.

On Monday, he was ordered to stop verbally attacking the judge’s family members in this upcoming case.

This came after Judge Juan Merchan’s daughter was described as a “rabid Trump hater” in a social media post.

Prosecutor Matthew Colangelo had warned: “Family members of trial participants are not allowed to enter.”

“The defendant’s insistence to the contrary demonstrates a dangerous sense of entitlement to incite fear and even cause physical harm to the families of those he sees in the courtroom.”

Former US President Donald Trump listens as his lawyer Todd Blanche argues with Judge Juan Merchan (not seen) during a court hearing on charges of falsifying business records to cover up a hush money payment to a porn star before the 2016 election in a court in New York, USA, February 15, 2024 in this court sketch.
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Court sketch of Mr. Trump during the hush money trial. Image: Reuters

It is an expansion of an order already in effect banning Mr. Trump from publicly commenting on witnesses and court personnel.

If Mr. Trump violates the order, he could face prison time, but that hasn’t stopped him from criticizing Mr. Merchan or Manhattan District Attorney Alvin Bragg, whose office brought the charges last year.

The trial is scheduled to begin April 15 in Manhattan. Mr. Trump has pleaded not guilty to 34 counts of falsifying business records and denies an alleged sexual encounter with Ms. Daniels, whose real name is Stephanie Clifford.

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FILE PHOTO: The Truth social network logo is seen behind a woman holding a smartphone in this image illustration dated February 21, 2022.  REUTERS/Dado Ruvic/Illustration/File Photo
Picture:
Reuters file image

Big losses at Truth Social

In a further blow to Mr Trump, his social media company revealed it lost almost $58.2 million (£46.2 million) last year. a week after its stock market debut.

Trump Media and Technology Group – whose flagship product is the social media platform Truth Social – has seen a sharp decline compared to the $50.5 million profit the former president’s company reported for 2022, according to a company report filed with the securities regulators.

Truth Social was seen as a potential financial lifeline for Mr. Trump during his ongoing legal and financial challenges.

However, early investors in the media company are facing a setback after shares closed at $48.66 on Monday, below their original offer price of $49.95 (£39).

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