Donald Trump’s lawyers told a New York appellate court Monday that it's impossible for him to post a bond covering the full amount of his $454 million civil fraud judgment while he appeals. The former president's lawyers wrote in a court filing that “obtaining an appeal bond in the full amount” of the judgment “is not possible under the circumstances presented.” With interest, Trump owes $456.8 million. In all, he and co-defendants including his company and top executives owe $467.
The remaining bonding companies will not “accept hard assets such as real estate as collateral,” but “will only accept cash or cash equivalents .' “A bond of this size is rarely, if ever, seen. In the unusual circumstance that a bond of this size is issued, it is provided to the largest public companies in the world, not to individuals or privately held businesses,” the broker, Gary Giulietti, wrote. Trump appealed on Feb. 26, a few days after the judgment was made official.
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Source: CNBC - 🏆 12. / 72 Read more »