CNS News– Former President Donald Trump has been unable to secure a bond to cover the $464 million civil fraud judgment against him and his co-defendants, according to his lawyers. The judgment, handed down by a New York court, requires Trump and his company to pay over $350 million, an amount that has since grown to $464 million with pre-judgment interest.
Trump and his company need to post a bond for the full amount by next week to stop New York Attorney General Letitia James from being able to collect while he appeals. Despite efforts to secure a bond, including approaching about 30 surety companies through four separate brokers and negotiating with one of the largest insurance companies in the world, Trump’s lawyers claim that obtaining an appeal bond in the full amount is not possible under the circumstances presented.
The lawyers argue that the judgment against Trump is “grossly disproportional” and maintain that there are no victims, as there were no damages and no financial losses. They also point to Trump’s real estate holdings, including properties like 40 Wall Street, Doral Miami, and Mar-a-Lago, as assets that greatly exceed the amount of the judgment, making it impossible for Trump to secrete or dispose of them surreptitiously.
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New York Attorney General Letitia James has argued that Trump should put up the full amount of the bond. If Trump fails to post the bond by the deadline, James would be clear to start seizing his assets unless the appeals court steps in. The ongoing legal battle underscores the challenges faced by Trump and his legal team as they seek to appeal the judgment and avoid significant financial consequences.