Former US President Donald Trump has submitted a $175 million bond in his New York civil fraud case, preventing state authorities from seizing his assets. In February, he was found to have artificially inflated property values, resulting in a $464 million penalty.

By posting the bond, the New York attorney general is barred from enforcing the penalty, such as freezing bank accounts or seizing property, until Trump’s appeals are adjudicated. Trump, a Republican, refutes any wrongdoing, characterizing the case as a politically motivated attack. Initially ordered to post the full penalty amount, it was later reduced to $175 million after his legal team argued that obtaining a bond of that magnitude was unattainable.

If the three judges on the appeal panel rule against him, Donald Trump will be required to produce the full $464 million or face the potential dissolution of his renowned property empire. However, Trump is currently spared the indignity of losing assets such as Trump Tower in Manhattan and his Mar-a-Lago estate in Florida.

In a statement, his lawyer Alina Habba affirmed, “As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict.” The fraud case, initiated by New York Attorney General Letitia James, a Democrat, was filed in 2022.

Justice Arthur Engoron, also a Democrat, largely supported Attorney General Letitia James’ contention that Donald Trump should face significant consequences for deceptively inflating his assets to secure more advantageous loans and interest rates over an extended period. Trump countered by asserting that there were no victims in the case, as the banks were repaid with interest and no financial institution pursued legal action against him for overstating his net worth. Additionally, Justice Engoron imposed a three-year ban on Trump from operating a business in New York and barred him from obtaining loans from New York financial institutions during the same period.

The court’s decision has placed Donald Trump in a significant financial bind, especially considering his claims, both in depositions and on social media, of having $400 million to $500 million in available cash. Forbes Magazine currently estimates his net worth at $5.7 billion, a figure that surged after the successful public listing of the parent company of his social media platform, Truth Social, last week.

In addition to the recent fraud case loss, Trump also had to secure a $91 million bond after losing an unrelated defamation lawsuit filed by writer E Jean Carroll. With the business fraud case potentially dragging on for months or longer, there’s a possibility that the ruling could coincide with his presidential campaign.