Former President Donald Trump has sought to negotiate a deal by requesting permission from an appeals court to post a $100 million bond, a significantly reduced amount compared to the $454 million he currently owes following his civil fraud trial in New York.
The New York Times reported that Trump’s offer, representing less than a quarter of his total debt, is viewed as “a clear sign that the former president lacks the money to cover the full amount.” Alongside the reduced bond request, Trump’s legal team also petitioned for a delay in enforcing the imposed penalties, which include a three-year ban on conducting business in New York. In their filing, Trump’s attorneys argued:
“The exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond.”
The New York Times provided further insight, stating:
“Unless the appeals court accepts the $100 million bond or grants Mr. Trump additional time, the attorney general can collect at any moment. Under New York law, [New York Attorney General Letitia James] can seize Mr. Trump’s bank accounts and potentially take control of his New York properties.”
In response to Trump’s offer, Letitia James, in her own filing, urged the appeals court not to accept it:
“There is no merit to defendants’ contention that a full bond or deposit is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount. Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment.”
It’s worth noting that, in addition to the $454 million judgment from Trump’s civil fraud case, he also faces a separate financial obligation of $83.3 million to writer E. Jean Carroll after being found liable for defaming her. The unfolding legal developments underscore the financial challenges and potential consequences Trump is grappling with in the aftermath of these legal proceedings.
