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Former President Donald Trump’s legal team informed a New York appellate court on Monday that it is not feasible for him to secure a bond covering the entirety of his $454 million civil fraud judgment while he pursues an appeal.
According to reports from AP, Trump’s lawyers stated in a court filing that due to the circumstances, obtaining a bond equivalent to the judgment’s full amount is unattainable.
Including accrued interest, Trump’s total liability amounts to $456.8 million. Alongside co-defendants, which include his company and senior executives, the collective owed sum rises to $467.3 million. Trump’s legal representatives explained that to procure a bond, they would need to offer collateral valued at $557 million, as per the report.
Reportedly, the defendants have engaged with 30 surety companies through four distinct brokers in an attempt to secure a bond.
As previously reported by Breitbart News, a state appeals court judge ruled last month that Trump, the Republican presidential candidate, must provide a bond covering the complete sum to temporarily halt enforcement of the judgment, which is slated to commence on March 25.
Insanity! https://t.co/fO10mjyIb5
— Breitbart News (@BreitbartNews) February 16, 2024
Manhattan Supreme Court Judge Arthur Engoron fined Trump $354.8 million along with roughly $100 million in pre-judgment interest, finding that the former president had exaggerated his net worth to secure more favorable loan terms.
Trump declared his intention to appeal the ruling at that time.
