Former United States President Donald Trump posted bail of $175 million to start the appeal process in a civil fraud case in New York, AFP reported.
The bond, secured by Knight Specialty Insurance Company, was filed by an attorney representing the firm on Monday.
The former president's move to post bail allowed him to challenge the ruling, which not only imposed a significant penalty but also included a ban on Trump and several top Trump Organization executives from running any companies in New York for a period ranging from time.
Trump successfully persuaded an appeals court to reduce the bail amount from the $454 million penalty originally imposed by Manhattan Supreme Court Justice Arthur Engoron.
We recall that the former Republican president is fighting a number of cases as he tries to unseat Democratic President Joe Biden in the US elections on November 5.
He is the Republican favorite for the nomination.
Trump's legal maneuvering has delayed three criminal trials, although a New York judge ruled Monday that a fourth case involving secret money paid to a porn star will begin on April 15.