Donald Trump can’t make $464 million bond in civil fraud case

• Donald Trump can’t make bond.
• He faces a $464 million judgement.
• What will happen next?

On Monday, former President Donald Trump’s lawyers revealed that he is unable to afford a multimillion-dollar bond to appeal a fraud case in New York.

According to reports, Trump’s inability to pay this bond could have significant implications for the case and his ongoing legal strategy.

The news underscores Trump’s financial difficulties and raises doubts about his ability to defend himself in pending legal cases.

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Trump can’t make bond

In the fraud case, Trump’s lawyers and his co-defendants have argued that obtaining the bond to cover the judgement against him was «impossible.»

In a filing, they expressed that their ongoing efforts were unsuccessful, according to EFE.

The statement indicates that they have exhausted their options for obtaining funds. The inability to secure the full bond may hinder his appeal.

This raises questions about Trump’s financial situation.

Insurance companies won’t touch him

Trump’s legal team appealed to 30 insurance companies through four different brokers, in an effort to underwrite the judgement.

So far all negotiations have been fruitless.

Trump’s attorneys asked the appeals court to postpone the issuance of the bond until the conclusion of the case.

This suggests a tactic to buy time and explore other alternatives to address his financial situation.

How much is the bond?

In February, a judge in New York ordered Trump and his co-defendants to pay $464 million for violating an anti-fraud statute.

This astronomical number underscores the gravity of the allegations and their significant financial consequences.

The hefty sum reflects the seriousness of the case and the court’s determination to ensure that justice is served.

This legal decision has been a crucial turning point in Trump’s legal saga.

Why does he have to pay?

In New York, defendants in civil cases must post a bond worth at least 110% of the judgment amount in order to delay payment of the fine while they appeal.

Therefore, Trump’s appeal bond is $464 million, representing the total imposed fine plus 10%.

This ensures the financial stake of the defendants in the appeal and enables the injured parties to recover damages.

The high bond amount underscores the seriousness of the case and the significant financial implications for Trump.

What will happen if Trump can’t make bond?

If Trump can’t make bond according to New York law, he may not be able to appeal the damages and interest he was ordered to pay.

This situation could have significant repercussions on his ongoing legal issues.

Earlier this month, Trump posted a bond of nearly $92 million to appeal the $83.3 million in damages.

A jury ordered him to pay this to writer E. Jean Carroll in a separate defamation case for denying her allegations of sexual assault.