Former President Donald Trump is unable to post a bond in his appeal of a New York civil fraud judgment against him, according to a court filing by his attorneys on Monday.
Trump, the presumptive Republican presidential nominee in the 2024 general election, was sued by Democratic Attorney General Letitia James of New York for allegedly falsifying his company’s assets in order to obtain loans for business ventures, with the New York Supreme Court’s Trial Division issuing a ruling on Feb. 23 that ordered him to pay the State of New York $454 million. Trump, who has appealed the decision, moved the court’s Appellate Division on Monday to stay the execution of the judgment and indicated that he is unable to obtain a “supersedeas” bond that would guarantee the final amount pending the outcome of the appeal. (RELATED: Trump Posts $91 Million Bond As He Appeals E. Jean Carroll Verdict)
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude…In short, “a bond of this size is rarely, if ever, seen,” Trump’s attorneys wrote in their 4,919-page filing. “The actual amount of cash or cash equivalents required “to collateralize the bond and have sufficient capital to run the business and satisfy its other obligations”…”approach[es] $1 billion.””
Read Trump’s filing here:
Extract of Reply Memorandum of Law in Further Support of a Stay Pending Appeal, New York v. Trump, No. 4545… by Daily Caller News Foundation on Scribd
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