Former President Donald Trump’s legal team has reported their inability to secure a bond required for appealing the $464 million judgment against him in a New York civil fraud case. The judgment, which was imposed last month after Trump was found liable for misleading financial statements, has presented a significant challenge for the former president, who has faced difficulties in meeting the next week’s deadline to post the appeal bond. Trump’s attorneys revealed that securing a bond of such magnitude has proven to be a practical impossibility, given the reluctance of bonding companies to accept real estate as collateral, preferring instead cash or cash equivalents.
The difficulty in obtaining the necessary bond reflects the enormity of the judgment against Trump, who was also barred from operating any company in New York for three years. The case, led by New York Attorney General Letitia James, accused Trump of a scheme that inflated his wealth to deceive banks and others. Trump’s failure to secure the bond might lead James to seek asset seizure to fulfill the judgment’s requirements.
This financial and legal setback comes as Trump, who maintains he is worth several billion dollars, faces additional legal challenges, including a separate case requiring him to pay more than $83 million to writer E. Jean Carroll. Trump’s legal predicaments underscore the complexities and consequences of the numerous legal battles surrounding the former president, as he navigates the implications of these judgments on his personal and financial standing.
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