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Former President Donald Trump has not been able to get a bond to secure the $464 million fraud judgment against him, his lawyers said in a court filing Monday.
Trump and his company need to post a bond for the full amount by next week in order to stop New York Attorney General Letitia James from being able to collect while he appeals.
Their efforts, including “countless hours negotiating with one of the largest insurance companies in the world,” have proven that “obtaining an appeal bond in the full amount” of the Judgment “is not possible under the circumstances presented,” the filing said.
"Defendants’ real estate holdings — including iconic properties like 40 Wall Street, Doral Miami, and Mar-a-Lago, — greatly exceed the amount of the judgment.
Such assets are impossible to secrete or dispose of surreptitiously, leaving the plaintiff effectively secured during the pendency of an appeal," the filing said.
Trump’s team also argued the $464 million penalty is “grossly disproportional” and cited the argument they made throughout the months-long trial that “there are no victims, as there were no damages and no financial losses.”
🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
Former President Donald Trump has not been able to get a bond to secure the $464 million fraud judgment against him, his lawyers said in a court filing Monday.
Trump and his company need to post a bond for the full amount by next week in order to stop New York Attorney General Letitia James from being able to collect while he appeals.
Their efforts, including “countless hours negotiating with one of the largest insurance companies in the world,” have proven that “obtaining an appeal bond in the full amount” of the Judgment “is not possible under the circumstances presented,” the filing said.
"Defendants’ real estate holdings — including iconic properties like 40 Wall Street, Doral Miami, and Mar-a-Lago, — greatly exceed the amount of the judgment.
Such assets are impossible to secrete or dispose of surreptitiously, leaving the plaintiff effectively secured during the pendency of an appeal," the filing said.
Trump’s team also argued the $464 million penalty is “grossly disproportional” and cited the argument they made throughout the months-long trial that “there are no victims, as there were no damages and no financial losses.”
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