Trump Faces Challenges Posting $464 Million Bond in Civil Fraud Case
Summary from the AllSides News Team
Former President Donald Trump's legal team told a New York appeals court that Trump is unable to post a $464 million bond due next week in a civil fraud case against him.
The Details: According to Trump's lawyers, obstacles have arisen in securing approval from a surety company for the bond, with some having an internal policy limiting bonds to $100 million. The lawyers said sourcing such a sum through a 'fire sale' of real estate holdings would result in 'irreparable injury'. Trump's legal team is appealing the decision made by Judge Arthur Engoron, which would mean Engoron could proceed with the collection of the payment up until Trump's appeal is settled.
For Context: Last month, Engoron ruled that Trump has to pay nearly $355 million in penalties as part of the civil fraud case that has significantly impacted his family’s business empire in New York.
Key Quotes: Trump said in a Truth Social post, “Nobody has ever heard of anything like this before. I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!”
How the Media Covered It: Coverage often reflected diverging attitudes about the former president; some right-rated outlets highlighted Trump’s claim of “election interference,” and some left-rated outlets said Trump “lashed out” over his legal troubles. This summary was developed with the help of AllSides' AI technology.
Featured Coverage of this Story
From the Right
Donald Trump Says $454M Bond Could Force Real Estate Fire Sale: ‘ELECTION INTERFERENCE’
Former President Donald Trump said Tuesday that the $454 million bond required to appeal the civil fraud judgment against him could force a fire sale of his real estate.
New York Attorney General Letitia James’ prosecution of Trump essentially tries to bankrupt the president. Trump must post a liquid (cash, securities) bond covering the full amount of the judgment to pause enforcement of the judgment, but 30 surety companies told Trump they would not accept real estate assets as collateral, Trump’s lawyers said Monday. The enforcement will begin on March 25.
From the Left
'Practically impossible': Trump lashes out hours after revelation he can't pay $464M bond
Donald Trump hit back Monday night after his lawyers revealed he couldn't pay his $464 million fraud trial bond.
In a post to Truth Social, he claimed that it wasn't that he couldn't find a company willing to underwrite a bond of that amount of money — it's that no company possibly could.
His lawyers told the court earlier that day that they had approached 30 underwriters to back the bond, which he needs to pay by the end of the month. And none of them were willing to do so, claiming that...
From the Center
Trump says he’d have to hold ‘fire sale’ of properties to meet $464M bond
Former President Trump argued Tuesday he would have to take extreme measures in order to pay a $464 million bond due next week in his New York civil fraud case, such as selling some of his properties for cheap “fire sale” prices.
Trump blasted New York Judge Arthur Engoron, who ruled against the former president in the fraud case, in a Truth Social post objecting to having to post the bond.
“Judge Engoron actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision. In other...
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