In a recent development concerning legal proceedings against former President Donald Trump, his attorneys have reported an inability to secure a $454 million bond required as part of a civil fraud judgment. The bond is necessary to cover the potential payout if Trump loses his appeal and cannot pay. The situation has prompted a request to the New York State appeals court to stay the judgment while the appeal is ongoing. Failure to obtain the bond could lead to the seizure of Trump’s assets by New York Attorney General Leticia James’s office.
- Donald Trump’s lawyers have stated that he is unable to obtain a $454 million bond related to a civil fraud judgment.
- A bond company assumes the responsibility for payment if a defendant is unable to pay after losing an appeal.
- Trump’s legal team claims that out of 30 companies approached, few are willing to consider issuing a bond of this magnitude, and those that would require cash or stocks as collateral rather than real estate.
- The request has been made to the New York State appeals court to pause the judgment against Trump while his appeal is processed.
- If the stay is not granted and Trump cannot provide the bond, the Attorney General’s office may begin to seize his assets as soon as March 25th if the full amount of the judgment is not posted.
- Previously, Trump posted a $91.6 million bond in a separate defamation case involving E. Jean Carroll.
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