United States – Trump’s lawyers stated that he cannot get a bond that would allow him to appeal a USD 454 million judgment against the former US president in the New York civil fraud case, while he could not post the full amount himself.

Bond Requirement for Appeal

Finance or post a bond is the only option Trump has to avoid losing his properties to the authorities of the state during his appeal of Feb. 16th, 2023, decision of Justice Arthur Engoron, where he was ordered to pay USD 464 million in fines and interest for defrauding lenders and insurers by misrepresenting the values of his properties, as reported by Reuters.

In court filing Monday, the GOP presidential nominee’s attorneys accused that the judgment amount had been exaggerated and that the judgment should not be enforced immediately but should wait until the higher-level court can consider the case.

They claimed that the defendants had been taken by four brokers to approximately 30 surety bond companies.

“Enforcing an impossible bond requirement as a condition of appeal would inflict manifest irreparable injury on Defendants,” Trump’s lawyers wrote, as reported by Reuters.

Request for Reduced Bond

The attorneys have now requested that he, instead, be permitted to post a USD 100 million bond during the period of the appeal so that he is not required to stay in prison infinitely. The bonding firm would be responsible to reimburse everyone for paying if Trump does not have an appeal to keep him in the race to be unable to pay.

Trump’s Counselman consisted of a declaration affirmed by one other witness named Gary Giulietti, who was an executive at the insurance brokerage company, Lockton Companies, which Trump had hired for help.

Giulietti recalled that there were a number of reasons why the bond could not possibly be advertised for the full USD 436 million. First of all, most of the sureties would not cover bonds that exceeded USD 100 million. Furthermore, cash or securities were the only acceptable guarantees, whereas real estate was not.

Previous Bond Posting

Trump did not admit his guilt in the case brought by New York Attorney General Letitia James, which was filed in New York state court in Manhattan.

During this month, Trump posted a USD 91.6 million bond to cover another case involving a USD 83.3 million defamation verdict for the writer E. Jean Carroll to which he had appealed while he was branding the latter a liar years ago after she accused him of rape.