Amid backlash over the alleged attack, former President Donald Trump’s legal team informed a New York appellate court on Monday that it is not feasible for him to secure a bond that covers the entire $454 million civil fraud judgment while he pursues an appeal. Trump’s attorneys stated in a court document that due to the circumstances at hand, obtaining a bond for the full judgment amount is not viable.
The total amount owed by Trump, with interest, is $456.8 million, while he and his co-defendants, including his company and top executives, collectively owe $467.3 million. Trump’s lawyers mentioned that in order to obtain a bond, they would need to provide collateral valued at $557 million.
They also noted that the defendants have already approached 30 surety companies through four different brokers in an attempt to secure a bond. Last month, a state appeals court judge ruled that Trump must post a bond covering the entire amount to halt the enforcement of the judgment, which is set to commence on March 25.
Trump was ordered to pay a total of $454.8 million, including around $100 million in pre-judgment interest, following Manhattan Supreme Court Judge Arthur Engoron’s decision that the ex-president had exaggerated his net worth to secure better loan conditions.
Trump stated his intention to challenge the verdict. Nevertheless, he must first submit the fine as a guarantee to the state of New York before moving forward.
