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Former President Donald Trump has been unable to secure the $454 million bond, the full amount of the civil fraud judgment against him, which he must post in order to appeal, his attorneys said in a filing Monday.
Trump offered last month to post a $100 million appeal bond rather than the full amount as the process plays out in court, but the judge denied the proposal.
Trump’s “ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,'” the former president’s lawyers said, per NBC News. “These diligent efforts have included approaching about 30 surety companies through 4 separate brokers.”
Efforts to secure the bond include “countless hours negotiating with one of the largest insurance companies in the world,” but the work has been unfruitful, per the document.
Trump and his company must post the full amount by next week to stop New York Democratic Attorney General Letitia James from being able to collect it while he appeals the judgment, which New York Judge Arthur Engoron ordered him to pay.
Before the trial started, Engoron had determined Trump was liable for inflating his wealth to receive better terms on loans and insurance. The trial itself was solely to determine penalties against Trump, his company and others implicated in the case, including his two eldest sons, Donald Trump Jr. and Eric Trump.
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Photo “Courtroom” by Carol M. Highsmith Archive. Photo “President Trump” by Trump White House Archived.
