Donald Trump’s lawyers on Monday said the former president has been unable to obtain a bond to guarantee payment of a $454 million civil-fraud judgment against him, despite trying to negotiate a deal with some of the largest suretors in the world.
In a filing to a New York appeals court, Trump said that the judgment, ordered by a state judge last month, was so large that suretors wouldn’t accept real estate as collateral and would require cash to guarantee the bond. A private company like the Trump Organization would need $1 billion in cash to obtain the bond and to continue to operate, an amount the company doesn’t have, the filing said.
“Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” Trump’s lawyers wrote.The legal drama places Trump’s finances and his image as a successful business tycoon in peril less than eight months before voters will decide whether to elect him for a return trip to the White House.
The legal drama places Trump’s finances and his image as a successful business tycoon in peril less than eight months before voters will decide whether to elect him for a return trip to the White House.
Trump has asked a New York appellate court to waive the bond requirement while he appeals the judgment, arguing that paying now would cause him irreparable harm. If the court turns down his request and he is unable to obtain a bond, New York Attorney General Letitia James, who sued Trump in 2022, could begin enforcing the judgment at the beginning of next week.
James, a Democrat, has said that if Trump can’t come up with the money, she will look to seize his assets.
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@ISIDEWITH2yrs2Y
What do you think it says about the state of our legal system when someone as rich and influential as Donald Trump claims they cannot afford a bond payment?
@9KYGZX2Republican2yrs2Y
because it might not be as important as people make it seem
@9KYGZQ82yrs2Y
I think it is saying that bonds are greatly increasing and even the rich are having a hard time paying them off
@ISIDEWITH2yrs2Y
How would you feel if a wealthy public figure couldn't come up with money for legal matters; does it affect their credibility in your eyes?
@9KYGZX2Republican2yrs2Y
if a wealthy public figure doesn't have enough money they are lying
@ISIDEWITH2yrs2Y
If a politician is facing significant financial difficulties, how might that influence your trust in their ability to manage a country's economy?
@9KYGGX32yrs2Y
I wouldn't really change my trust in the government that is the person's fault for not managing there money good.
@ISIDEWITH2yrs2Y
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