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Donald Trump Forced to Reveal His Finances to Save His Properties

1 week ago 23

Documents for former President Donald Trump's $175 million bond in his New York civil fraud case were reportedly rejected by the court because a current financial statement was not included.

A message on New York State Supreme Court's electronic filing system on Wednesday showed Trump's "Bond/Undertaking" had been "returned for correction."

New York State Supreme Court Justice Arthur Engoron ruled in February against Trump, his two eldest sons, Donald Trump Jr. and Eric Trump, and others associated with The Trump Organization accused in a lawsuit by New York Attorney General Letitia James' office of inflating the former president's net worth and value of his properties to obtain better loan and insurance terms. Trump has denied all accusations.

On Monday, Trump posted a $175 million bond in the civil fraud case, ensuring that James does not seize any of his assets or bank accounts during his appeal.

Donald Trump speaks in Wisconsin
Former President Donald Trump speaks at a rally on April 2 in Green Bay, Wisconsin. Documents related to Trump's bond in his New York civil fraud cause were reportedly returned to his lawyers. Photo by Scott Olson/Getty Images

He had originally been ordered to pay $454 million in damages after Engoron found him and others liable of misleading lenders. An appeals court granted the former president's request last week to lower his bond amount to $175 million after Trump's lawyers argued that it was a "practical impossibility" to fulfill the original penalty.

Criminal defense attorney Jeffrey K. Levine, who represented former Trump attorney Michael Cohen, posted an explanation on X, formerly Twitter, about the court's rejection message. He included New York County Supreme Court document number 1707, which could explain why Trump's bond filing was returned to his lawyers.

According to Levine's post, Trump will need to share recent financial records in order for his bond to be accepted.

"Court rejected #TrumpBond filing in #TrumpFraudVerdict for several reasons, 1 of which was #Trump failed to upload his 'current financial statement' to the Court [looking forward to read]. 175 million reasons why 1 mistake should not have been made, much less 3!" Levine wrote.

The New York County Supreme Court document he shared read:

"The court has returned the documents listed below for the following reasons: Please include a current financial statement and Power of Attorney. Additionally, please list the name of the Attorney-in-Fact under the signature line on the Undertaking. Please use the 'Refile Document' link for Doc. No. 1707 to resubmit the corrected filing. Thank you and have a great day."

This is a breaking story and will be updated as more information becomes available.

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