It has come to light that the lawyers for former President Donald Trump have admitted in a new court filing that he cannot secure a bond on his $464 million civil fraud judgment via Mediaite.
Donald Trump, his adult sons Donald Trump Jr. and Eric Trump, and two former Trump Organization officials had officially appealed nearly half a billion dollar fraud verdict that went against them in a New York court. It indicated he’d have to put up a massive pile of money to secure his assets during that appeal.
The case had started with a civil lawsuit filed by New York Attorney General Letitia James (D), who aimed to force the Trump Org to disgorge $370 million in profits for falsifying the values of their assets and tried to ban Trump and his adult sons from doing business in New York. Furthermore, revoke the company’s certificate to do business in the state.
In a court filing on Monday, Trump’s legal team wrote that “posting a full undertaking is a practical impossibility.”
It has been noted that the filing explains that Trump is having difficulty finding any company underwrite a bond of this size, with his lawyers stating, “The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude.”
Just Security’s Adam Klasfeld first broke the news, and further reported: “Trump wants oral argument on the matter — and if the intermediate appeals court denies a stay of the ~$464M civil fraud judgment again, they want to take it to the state’s highest court.”
Trump has long claimed to be a billionaire many times over, but those claims have long been questioned given his history of inflating his worth.
News
Trump's attorneys tell a New York appeals court that "Posting a Full Undertaking Is a Practical Impossibility," seeking to stay execution of the ~$464M civil fraud judgment.
Doc https://t.co/COb47uF6JG pic.twitter.com/W6RMUCjKhM
— Adam Klasfeld (@KlasfeldReports) March 18, 2024
