Friday, 19 April 2024
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Trump is unable to post a $454 million bond in the civil fraud lawsuit

  • Donald Trump has been unable to pay the entire $454 million civil fraud judgment.
  • A bond has proven to be “a practical impossibility,” according to the filing filed on Monday.
  • According to Trump’s attorneys, they would have to provide $557 million in collateral to get a bond.

According to a court document,Donald Trump’s attorneys stated that he has been unable to provide a bond sufficient to pay the entire $454 million civil fraud judgment against him.

A bond has proven to be “a practical impossibility,” according to the filing filed on Monday. The paper details the careful efforts made to get a bond, such as discussions with a significant insurance provider and contacting 30 surety businesses via four brokers.

Civil fraud lawsuit

According to the petition, these attempts have demonstrated that it “is not possible under the circumstances presented” to “secure an appeal bond in the full amount” of the verdict.

Trump owes $456.8 million with interest. Together with his company and other defendants, he owes $467.3 million in total, according to AP. According to Trump’s attorneys, they would have to provide $557 million in collateral to get a bond.

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