Trump loses appeal over massive fraud ruling after posting partial bond

New York, New York - Former President Donald Trump made a stunning admission after he was only able to hand over a small fraction of the massive bond needed to appeal his recent civil fraud trial ruling.

On Wednesday, Donald Trump put up $100 million for his civil fraud trial bond and admits he may have to sell his property to pay the rest.
On Wednesday, Donald Trump put up $100 million for his civil fraud trial bond and admits he may have to sell his property to pay the rest.  © JIM WATSON / AFP

According to The New York Times, Trump and his legal team on Wednesday put up a bond of only $100 million of the more than $454 million judgment included in the ruling by Judge Arthur Engoron, who has been overseeing the trial.

Trump's attorneys requested a hold be placed on the judgment, which needs to be paid in full in order for them to appeal the decision, as they have vowed to do.

Without the hold, they admitted, Trump may be forced to sell some of his New York properties "under exigent circumstances."

Melania Trump isn't ready to let Barron grow up: "He is her world"
Melania Trump Melania Trump isn't ready to let Barron grow up: "He is her world"

In order to do so, his legal team also requested the court lift additional punishments included in the judgment, such as the bar on him doing business in the state for several years.

Is Donald Trump able to pay the $454 million he owes in damages?

The Trump team's admission signals the former president may be having far more trouble handling his growing legal fees than he is willing to publicly admit, as critics speculate that he can't afford it.

The lawsuit, led by New York District Attorney Letitia James, accused Trump of manipulating the values of his properties to fraudulently obtain favorable loan conditions.

James has threatened to seize Trump's assets if he is unable to pay the judgement.

UPDATE, 5:15 PM EST: Trump's partial bond offer rejected by New York judge

On Wednesday, a judge rejected Trump's offer of a $100 million bond to partially cover the $355 million penalty a New York court handed him for fraud.

"The interim stay is denied as to the enforcement of the monetary judgment," New York Supreme Court Appellate Division judge Anil Singh wrote in a court filing.

The bond in question is a guarantee that Trump would pay any penalty upheld in the event that his appeal fails and would typically be underwritten by an insurer or specialized bond company.

No date has been set for the appeal hearing.

Cover photo: JIM WATSON / AFP

More on Donald Trump: