Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty

Former US President Donald Trump speaks to the press after attending the wake for New York Police Department (NYPD) Officer Jonathan Diller in Massapequa, Long Island, New York, on March 28, 2024. (AFP)
Former US President Donald Trump speaks to the press after attending the wake for New York Police Department (NYPD) Officer Jonathan Diller in Massapequa, Long Island, New York, on March 28, 2024. (AFP)
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Updated 02 April 2024
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Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty

Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty
  • The court ruled after Trump’s lawyers complained it was “a practical impossibility” to get an underwriter to sign off on a bond for the $454 million, plus interest, that he owes

NEW YORK: Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing.
A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement.
The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.
If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.
Until the appeals court intervened to lower the required bond, New York Attorney General Letitia James had been poised to initiate efforts to collect the judgment, possibly by seizing some of Trump’s marquee properties. James, a Democrat, brought the lawsuit on the state’s behalf. Her office declined to comment Monday.
The court ruled after Trump’s lawyers complained it was “a practical impossibility” to get an underwriter to sign off on a bond for the $454 million, plus interest, that he owes.
The company that underwrote the bond is Knight Specialty Insurance, which is part of the Knight Insurance Group. The chairman of that company, billionaire Don Hankey, told The Associated Press that both cash and bond were used as collateral for Trump’s appellate bond.
Trump is fighting to overturn a judge’s Feb. 16 finding that he lied about his wealth as he fostered the real estate empire that launched him to stardom and the presidency. The trial focused on how Trump’s assets were valued on financial statements that went to bankers and insurers to get loans and deals.
Trump denies any wrongdoing, saying the statements actually lowballed his fortune, came with disclaimers and weren’t taken at face value by the institutions that lent to or insured him.
The state courts’ Appellate Division has said it would hear arguments in September. A specific date has not been set. If the schedule holds, it will fall in the final weeks of the presidential race.
Under New York law, filing an appeal generally doesn’t hold off enforcement of a judgment. But there’s an automatic pause — in legalese, a stay — if the person or entity obtains a bond guaranteeing payment of what’s owed.
Courts sometimes grant exceptions and lower the amount required for a stay, as in Trump’s case.
Trump’s lawyers had told the appeals court more than 30 bonding companies were unwilling to take a mix of cash and real estate as collateral for a $454 million-plus bond. Underwriters insisted on only cash, stocks or other liquid assets, the attorneys said.
They said most bonding companies require collateral covering 120 percent of the amount owed.
Trump recently claimed to have almost a half-billion dollars in cash — along with billions of dollars worth of real estate and other assets — but said he wanted to have some cash available for his presidential run.
Recent legal debts have taken a sizable chunk out of Trump’s cash reserves.
In addition to the $175 million he had to put up in the New York case, Trump has posted a bond and cash worth more than $97 million to cover money he owes to writer E. Jean Carroll while he appeals verdicts in a pair of federal civil trials. Juries found that he sexually assaulted her in the 1990s and defamed her when she went public with the allegation in 2019. He denies all the allegations.
In February, Trump paid the $392,638 in legal fees a judge ordered him to cover for The New York Times and three reporters after he unsuccessfully sued them over a Pulitzer Prize-winning 2018 story about his family’s wealth and tax practices.
In March, a British court ordered Trump to pay to pay legal fees of 300,000 pounds ($382,000) to a company he unsuccessfully sued over the so-called Steele dossier that contained salacious allegations about him. Trump said those claims were false.
Trump could eventually generate cash by selling some of the nearly 60 percent of stock he owns in his newly public social media company, Trump Media & Technology Group — but that would be a longer-term play. Trump’s stake could be worth billions of dollars, but a “lock-up” provision prevents insiders like him from selling their shares for six months.

 


Macron to host new emergency talks on Ukraine

Macron to host new emergency talks on Ukraine
Updated 19 February 2025
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Macron to host new emergency talks on Ukraine

Macron to host new emergency talks on Ukraine
  • On Monday, Macron convened key European leaders as well as NATO and EU chiefs for emergency talks to agree a coordinated response to Washington’s shock policy shift on Russia

PARIS: French President Emmanuel Macron was set on Wednesday to host a new meeting on Ukraine in a bid to coordinate a European response to what he called an “existential threat” from Russia amid a shock policy shift in Washington.
US president Donald Trump has stunned the European Union by indicating he is ready to resume diplomacy with President Vladimir Putin after three years of Russia’s war against Ukraine and discuss the fate of the pro-Western country over the heads of not only Europe but also Kyiv.
On Monday, Macron convened key European leaders as well as NATO and EU chiefs for emergency talks to agree a coordinated response to Washington’s shock policy shift on Russia.
Several smaller European countries including Romania and the Czech Republic were reportedly aghast at not being invited despite being strong supporters of Ukraine, so Macron said he would convene a new meeting Wednesday.
In an interview with French regional newspapers on Tuesday, he said he planned to meet “with several European and non-European states.”
The talks were set to take place Wednesday afternoon, with most participants taking part by video link, according to the Elysee.
“Russia poses an existential threat to Europeans,” Macron said.
France has been one of Ukraine’s main Western backers since Russia unleashed its full-scale invasion of its neighbor in February 2022.
In the interview, Macron appeared open to the idea of sending forces to Ukraine but emphasized this could take place only in the most limited fashion and away from conflict zones.
Paris was not “preparing to send ground troops, which are belligerent to the conflict,” he said.
But France was considering, with its ally Britain, sending “experts or even troops in limited terms, outside any conflict zone.”
Macron also tried to put a brave face on days of head-spinning US declarations, suggesting that Trump “can restart a useful dialogue” with Putin.
Foreign Minister Jean-Noel Barrot said Wednesday Macron planned to meet with party leaders “very soon” to discuss Ukraine.
“It is very important that all French people and their elected representatives fully grasp the gravity of the situation we find ourselves in and the difficulty of some of the choices we will have to make,” he told broadcaster RTL.
“Russia has decided to make enemies of us, and we must open our eyes, realize the scale of the threat and protect ourselves.”
He acknowledged past mistakes in dealing with the Kremlin and said it was time to act.
“If we do nothing, if we remain blind to the threat, the front line will move ever closer to our borders,” added Barrot.


Kremlin says Putin and Trump could meet before end of February, agencies report

Kremlin says Putin and Trump could meet before end of February, agencies report
Updated 19 February 2025
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Kremlin says Putin and Trump could meet before end of February, agencies report

Kremlin says Putin and Trump could meet before end of February, agencies report
  • The talks in Riyadh were the first time US and Russian officials met to discuss ways to halt the deadliest conflict in Europe since World War Two
  • Kyiv has said it will not accept any deal imposed without its consent

MOSCOW: Russian President Vladimir Putin and US President Donald Trump could meet as early as this month, although a face-to-face meeting will take time to prepare, Kremlin spokesman Dmitry Peskov said on Wednesday, according to Russian news agencies.
Peskov said the US-Russia talks held on Tuesday in Riyadh were a “very, very important step” toward reaching a settlement on the Ukraine war, nearing its third year.
“In order to carry out, figuratively speaking, resuscitation measures, diplomats will now begin to work in light of the agreement (Russian Foreign Minister Sergei) Lavrov reached yesterday with (US Secretary of State Marco) Rubio,” Peskov was quoted by state media as saying.
“But this is the first step...Naturally, it’s impossible to fix everything in one day or a week. There is a long way to go,” he added.
The talks in Riyadh were the first time US and Russian officials met to discuss ways to halt the deadliest conflict in Europe since World War Two. No Ukrainian or European officials were invited. Kyiv has said it will not accept any deal imposed without its consent.


Pakistan wants to expel all Afghan refugees from the country, says Afghan embassy

Pakistan wants to expel all Afghan refugees from the country, says Afghan embassy
Updated 19 February 2025
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Pakistan wants to expel all Afghan refugees from the country, says Afghan embassy

Pakistan wants to expel all Afghan refugees from the country, says Afghan embassy
  • The embassy on Wednesday issued a strongly worded statement about Pakistan’s plans, saying Afghan nationals in the capital, Islamabad
  • The Afghan embassy in Islamabad says Pakistan wants to remove all Afghan refugees from the country and their expulsion is imminent

ISLAMABAD: Pakistan wants to remove all Afghan refugees from the country and their expulsion is imminent, the Afghan embassy in Islamabad warned Wednesday.
The embassy issued a strongly worded statement about Pakistan’s plans, saying Afghan nationals in the capital, Islamabad, and the nearby garrison city of Rawalpindi have been subjected to arrests, searches, and orders from the police to leave the twin cities and relocate to other parts of Pakistan.
“This process of detaining Afghans, which began without any formal announcement, has not been officially communicated to the Embassy of Afghanistan in Islamabad through any formal correspondence,” it added.
Besides hundreds of thousands of those living illegally in Pakistan, there are around 1.45 million Afghan nationals registered with UNHCR as refugees.


Trump bashes Zelensky, ‘confident’ on Ukraine deal

Trump bashes Zelensky, ‘confident’ on Ukraine deal
Updated 19 February 2025
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Trump bashes Zelensky, ‘confident’ on Ukraine deal

Trump bashes Zelensky, ‘confident’ on Ukraine deal
  • Zelensky previously criticized the US-Russia talks for excluding Kyiv, saying efforts to end the war must be “fair and involve European countries

PALM BEACH: US President Donald Trump has effectively blamed Ukrainian leader Volodymyr Zelensky for Russia’s invasion, as French President Emmanuel Macron prepares for another round of talks with EU and non-European partners on Wednesday.
Zelensky previously criticized the US-Russia talks for excluding Kyiv, saying efforts to end the war must be “fair and involve European countries.
The Ukrainian leader’s comments appeared to incense Trump, who launched a series of verbal attacks on Zelensky.
“I’m very disappointed, I hear that they’re upset about not having a seat,” Trump told reporters at his Mar-a-Lago resort in Florida on Tuesday.
“Today I heard, ‘oh, well, we weren’t invited.’ Well, you’ve been there for three years... You should have never started it. You could have made a deal.”
Trump also suggested he could meet Russian President Vladimir Putin before the end of the month in Saudi Arabia as he overhauls Washington’s stance toward Moscow — a shift that has alarmed European leaders.
Earlier Tuesday, Russia and the United States had agreed to establish teams to negotiate a path to ending the war in Ukraine after talks that drew a strong rebuke from Kyiv, with Zelensky postponing his own trip to Saudi Arabia.
France’s Macron announced another meeting in Paris on Ukraine after the US-Russia talks, adding that Trump “can restart a useful dialogue” with Putin.
Trump also increased pressure on Zelensky to hold elections — echoing one of Moscow’s key demands.
Trump wants Ukraine election
Asked whether the United States would support demands that Russia wanted to force Zelensky to hold new elections as part of any deal, Trump began by criticizing what he said were the Ukrainian’s approval ratings.
“They want a seat at the table, but you could say... wouldn’t the people of Ukraine have a say? It’s been a long time since we’ve had an election,” said Trump.
“That’s not a Russian thing, that’s something coming from me, from other countries.”
Zelensky was elected in 2019 for a five-year term, but has remained in office as Ukraine is still under martial law.
Trump’s latest remarks are unlikely to allay fears among some European leaders, already worried that Washington will make serious concessions to Moscow and re-write the continent’s security arrangement in a Cold War-style deal.
Washington noted European nations would have to have a seat at the negotiating table “at some point.”
The US-Russia talks — the first high-level official talks between the two countries since the 2022 invasion of Ukraine — drew a fiery response from Kyiv.
“This will only be feeding Putin’s appetite,” a Ukrainian senior official requesting anonymity told AFP, referring to the launch of talks without Ukraine.
Trump for his part said he was “much more confident” of a deal after the Riyadh talks, telling reporters Tuesday at his Mar-a-Lago estate: “I think I have the power to end this war.”
’Heard each other’
US Secretary of State Marco Rubio and Russian Foreign Minister Sergei Lavrov agreed to “appoint respective high-level teams to begin working on a path to ending the conflict in Ukraine as soon as possible,” the State Department said.
Washington added that the sides had also agreed to “establish a consultation mechanism” to address “irritants” to the US-Russia relationship, noting the sides would lay the groundwork for future cooperation.
Riyadh marks a diplomatic coup for Moscow, which had been isolated for three years under the previous US administration of Joe Biden.
Moscow’s economic negotiator, Kirill Dmitriev, said Western attempts to isolate Russia had “obviously failed.”
“We did not just listen but heard each other, and I have reason to believe the American side has better understood our position,” Lavrov told reporters.
The veteran diplomat noted that Russia opposed any deployment of NATO-nation troops to Ukraine as part of an eventual ceasefire.
European allies publicly diverged this week over whether they would be open to sending truce peacekeepers to Ukraine.
Macron, in an interview with French regional newspapers, appeared open to the idea of sending troops to Ukraine but only in the most limited fashion and away from conflict zones.
He said new talks would take place “with several European and non-European states,” after an emergency meeting on Monday in Paris which brought together a small number of key European countries.
Moscow has long called for the withdrawal of NATO forces from eastern Europe, viewing the alliance as an existential threat on its flank.
The Kremlin on Tuesday said Ukraine had the right to join the European Union, but not the NATO military alliance.
It also said Putin was “ready” to negotiate with Zelensky “if necessary.”


Bangladesh clashes leave nearly 150 students injured

Bangladesh clashes leave nearly 150 students injured
Updated 19 February 2025
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Bangladesh clashes leave nearly 150 students injured

Bangladesh clashes leave nearly 150 students injured

DHAKA: More than 150 students have been injured in Bangladesh during clashes at a university campus, a sign of serious discord between groups instrumental in fomenting a national revolution last year.
Tuesday afternoon’s clashes began after the youth wing of the Bangladesh Nationalist Party (BNP) sought to recruit students at the Khulna University of Engineering and Technology in the country’s southwest.
That sparked a confrontation with campus members of Students Against Discrimination, a protest group that led the uprising that ousted autocratic ex-premier Sheikh Hasina last August.
At least 50 people were taken for treatment after the skirmish, Khulna police officer Kabir Hossain told AFP.
“The situation is now under control, and an extra contingent of police has been deployed,” he added.
Communications student Jahidur Rahman told AFP that those hospitalized had injuries from thrown bricks and “sharp weapons,” and that around 100 others had suffered minor injuries.
Footage of the violence showing rival groups wielding scythes and machetes, along with injured students being carted to hospital for treatment, was widely shared on Facebook.
Both groups blamed the other for starting the violence, with the BNP student wing chief Nasir Uddin Nasir accusing members of Islamist political party Jamaat of agitating the situation to force a confrontation.
Jamaat activists “created this unwarranted clash,” he told AFP.
Local student Obayed Ullah told AFP that the BNP had defied a decision by the campus to remain free of activities by established political parties.
He added that there was “no presence” of Jamaat on campus.
The incident provoked outrage among students elsewhere in the country, with a protest rally held late Tuesday night to condemn the BNP’s youth wing at Dhaka University.
Students Against Discrimination launched protests last year that toppled Bangladesh’s former government and chased ex-leader Hasina into exile after 15 years of iron-fisted rule.
Activists from the BNP joined with student protesters in the final days of Hasina’s tenure, defying a bloody crackdown by security forces that killed hundreds.
The BNP is widely expected to win fresh elections slated to be held by the middle of next year under the supervision of the South Asian country’s current caretaker administration.
Student leaders have meanwhile struggled to parley their success in engineering Hasina’s fall into a durable political force.