Donald Trump has not shown that he has enough cash to cover the full amount of a $464 million civil fraud judgment if he loses on appeal, New York Attorney General Letitia James warned.
Former U.S. President Donald Trump speaks as he arrives at a Manhattan courthouse, for the trial of himself, his adult sons, the Trump Organization and others in a civil fraud case brought by state Attorney General Letitia James, in New York City, U.S., October 2, 2023.New York Attorney General Letitia James raised that concern as she argued that Trump and his co-defendants should be required to post"Defendants have never demonstrated that Mr.
Trump "has substantial liabilities that may reduce his liquid assets further, including other outstanding money judgments against him, and he faces multiple criminal indictments," she wrote, pointing to that verdict. New York Attorney General Letitia James sits in the courtroom during the civil fraud trial of former President Donald Trump and his children at New York State Supreme Court on November 03, 2023 in New York City.They claimed that it would be "impossible" for them to secure a full appeal bond, which could be set at 120% of the judgment — more than $550 million — since that judgment also barred Trump from applying for loans in New York.
Appeal bonds are intended to ensure that the person awarded damages at trial will be able to collect that money if the verdict is upheld on appeal. The person posting the bond will get their deposit back if they win their appeal.Are Biden and Netanyahu on a collision course over Gaza?New York appeals court Judge Anil Singh on Feb. 28 rejected the $100 million bond proposal, but allowed the defendants to continue doing business in New York and lifted the ban on seeking loans.
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