Trump lawyers make startling admission about bond in $454-million civil fraud judgment

New York, New York - Donald Trump is unable to cover the full amount needed to secure a stay on the giant penalty imposed on him by the judge in his New York civil fraud case.

Donald Trump's legal team admitted their client cannot post a bond covering the full $454-million fine imposed in his civil fraud case.
Donald Trump's legal team admitted their client cannot post a bond covering the full $454-million fine imposed in his civil fraud case.  © ANGELA WEISS / AFP

Per CNN, in an appellate court filing made Monday, the ex-president's legal team admitted that "it is not possible under the circumstances presented" for Trump to post a bond that covers the $454-million fine ordered by Judge Arthur Engoron last month.

The 77-year-old has been trying to delay collection on that mammoth sum until his appeal is decided. But in order to stop the judgment from taking effect on March 25, he is required to put up almost half a billion in collateral.

That kind of money, according to an insurance broker cited in the filing, won't be provided by insurance companies that usually help out with bonds. New York Supreme Court Appellate Division Judge Anil Singh already denied Trump's offer to cover costs up to $100 million.

Biden and Trump suit up as preparations begin for first televised clash of 2024
Joe Biden Biden and Trump suit up as preparations begin for first televised clash of 2024

"Over the course of my career, during which I have been directly or indirectly involved in the issuance of thousands of bonds, I have never heard of nor seen an appeal bond of this size for a private company or individual," Gary Giulietti said in a signed affidavit, according to CNN.

Since Trump can't use his real estate to underwrite the bond, this makes meeting the demand a "practical impossibility."

With few options left, the presumptive Republican nominee for the 2024 presidential election might need to look at a fire sale for some of the buildings he owns.

New York Attorney General Letitia James, who brought the fraud trial against Trump, has already threatened to seize his assets if he can't pay his dues in full.

Cover photo: ANGELA WEISS / AFP

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