The $175 million surety bond was missing vital information typically included in those filings, experts say.
When former President Donald Trump posted a $175 million bond in New York on Monday, it appeared that he had evaded a financial crisis. He had paused enforcement of the more than $460 million judgment against him following a civil fraud trial, while his appeal is pending. But the surety bond was missing vital information typically included in those filings, experts say.
'First he furnished about $120 million worth of bonds that we OK'd, so we assumed it would be investment-grade bonds and cash. But as it turned out, it was all cash,' he told CBS News in a brief phone call on Tuesday. But Trump retained that $175 million cash collateral, according to Shah. He said the money is in an account that is 'pledged' to the company. He would not specify the type of account. Trump paid a premium to the company that Shah declined to disclose.
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