Donald Trump’s team approached about 30 surety companies, but none agreed to underwrite the bond|Gage Skidmore|CC BY-SA 2.0
Lawyers of Donald Trump told a court yesterday that he is unable to secure a bond to cover the $464 million verdict against him in New York’s civil fraud case.
His lawyers stated the colossal judgment, related to a case alleging Trump inflated the value of his assets, makes it impractical to secure the required bond, which could go up to $1 billion in cash, which the Trump Organization lacks.
Despite reaching out to approximately 30 surety companies, none were willing to underwrite the bond.
Trump seeks to waive the bond requirement while he appeals the ruling, citing irreparable harm if forced to pay immediately.
If an appeal is denied, New York AG Letitia James could initiate asset seizure next week, intensifying Trump’s financial woes.