The former president’s lawyers said in a court filing that Trump and the Trump Organization have been unable to get a surety company to accept property as collateral.
Donald Trump addresses a crowd at a rally in Rome, Ga., March 9, 2024. has been unable to finance an appeal bond for at least $450 million to cover a judgment in the New York attorney general’s business fraud case against him and is seeking a reprieve from an appellate court to keep the state from seizing assets, according to a court filing Monday.
“Critical among these challenges is not just the inability and reluctance of the vast majority of sureties to underwrite a bond for this unprecedented sum, but, even more significantly, the unwillingness of, recently failed to get an emergency appeals judge to put off the 30-day deadline that the attorney general has imposed to give the company time to fulfill its appeal bond obligation. That judge also rejected an offer of a $100 million bond in lieu of the full amount.
Trump, his company and several current and former executives were found civilly liable in Manhattan state court this year for engaging in illegal acts to defraud banks and insurance companies by lying about the true value of his assets to falsely obtain profits and savings in business over a decade. New York Attorney General Letitia James, who brought the case, said Trump misstated the value of his properties and other assets by up to $2.2 billion a year from 2011 to 2021.
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Trump unable to finance an appeal bond for at least $450 million, lawyers sayThe former president’s lawyers said in a court filing that Trump and the Trump Organization has been unable to get a surety company to accept property as collateral.
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