Ex-President Donald Trump is struggling to post a $464 million bond in a civil fraud case

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Another obstacle in Donald Trump‘s legal journey has emerged…ex-Prez claims he is struggling to get support in order to pay a sizable bail worth millions of dollars in his civil lawsuit in New York.

To satisfy the judgment against him, Trump must post a $464 million bond. He must do this as soon as possible, ideally by the end of the month. But according to his lawyers, he’s having trouble coming up with the money.

According to court documents that TMZ was able to obtain, Trump’s attorneys indicated on Monday that they are encountering difficulties in their search for an insurance company ready to pay the hefty fine, calling the undertaking a “practical impossibility.”

The DT team notes that they have attempted, but failed, to secure support for the bond from 30 underwriters… in writing, “The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude.”

Donald Trump

The document claims that they have spent “countless hours negotiating with one of the largest insurance companies in the world” and that this proves that they are unable to secure a full appeal bond.

Trump’s lawyers added that potential underwriters typically back the bonds with cash or cash equivalents … which would have made it virtually impossible to use real estate assets to back the bonds. His team says Trump would need close to $1 billion in cash reserves to get on board with the insurance company — and they seem to be saying DT just didn’t get it.

That being said, Trump’s attorneys have filed a petition with the appeals court asking it to postpone the imposition of the large financial judgment indefinitely, thereby preventing New York Attorney General Letitia James from attempting to enforce collection while the appeal is pending. His filing is still pending decision.

 Donald Trump

As you may remember, Manhattan Supreme Court Judge Arthur Engoron’s decision found that Trump and his associates had conspired to falsify his net worth, and as a result, sentenced them to pay a hefty $464 million in damages. Trump was ordered to pay $454M of that total.

About Post Author

Michelle Watson

Michelle Watson is a national news editor for usnewsdaily national newsgathering team. Prior to joining the desk, Michelle worked to vet and research stories for the Row, usnewsdaily editorial judgement body.Since joining usnewsdaily in 2017, Michelle has played a role in a number major stories for usnewsdaily including the network’s coverage of the catastrophic effects of Hurricane Irma after it made landfall and the tragic shooting deaths of 17 people at Marjory Stoneman Douglas High School in Parkland, Florida. She also worked with usnewsdaily political team fact checking the 2020 presidential election.Michelle holds a degree from Louisiana State University in Mass Communication with a minor in history.
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