It will be impossible for former President Donald Trump to post a bond to cover the full amount of his $454 million civil fraud judgment while it is on appeal, his lawyers said Monday in the New York Court of Appeals.
Trump’s lawyers wrote in a court filing that “obtaining a full appeal bond” for the verdict “is not possible under the circumstances presented.” (AP) report.
Trump owes $456.8 million with interest.
He and his co-defendants, including his companies and management, owe a total of $467.3 million. According to reports, Trump’s lawyers said he would have to post $557 million worth of collateral to get the bond.
They said the defendants have approached 30 surety companies through four different brokers to obtain guarantees.
As Breitbart News reported, a state appeals court judge ruled last month that the Republican presidential candidate must post a bond covering the full amount to suspend the execution of his sentence. Execution of the sentence is scheduled to begin on March 25th.
Insanity! https://t.co/fO10mjyIb5
— Breitbart News (@BreitbartNews) February 16, 2024
Trump will be fined $354.8 million and sentenced before sentencing after Manhattan Supreme Court Judge Arthur Engoron ruled that the former president had inflated his net worth to obtain more favorable loan terms. Approximately $100 million in interest was charged.
Trump later said he intended to appeal the ruling.
Still, he would have to pay a bond fine to the state of New York before proceeding.
Even more in the future…
