Donald Trump’s legal team confirmed on Monday that he has been unsuccessful in obtaining a bond to appeal a $454 million judgment against him in a New York civil fraud case. This failure leaves him facing the prospect of having to post the full amount himself. The judgment, issued by Justice Arthur Engoron on Feb. 16, ordered Trump and his co-defendants to pay $464 million in penalties and interest for misrepresenting property values to deceive lenders and insurers.
Trump now finds himself in a situation where he must either come up with the cash or secure a bond to prevent state authorities from seizing his properties while the appeal is underway. In a court filing on Monday, his legal team urged a mid-level state appeals court to delay enforcement of the judgment, arguing that the amount imposed was excessive.
Despite their efforts, Trump’s lawyers revealed that they have approached 30 surety companies through four separate brokers in attempts to obtain a bond, but have yet to succeed.
