can't find an insurance company to underwrite his bond to cover the massive judgment against him in the New York attorney general's civil fraud case, his lawyers told an appeals court.
An insurance broker, Gary Giulietti, who testified for Trump during the civil fraud trial, signed an affidavit stating that securing a bond in the full amount "is a practical impossibility." Last month, Trump was ordered to pay $541 million in disgorgement, or "ill-gotten gains," by New York Judge Arthur Engoron in a civil fraud case brought by New York Attorney General Letitia James.
But Giulietti said some of the biggest underwriters have internal policies that limit them from securing a bond in excess of $152 million. None of them, he said, including some of the largest insurance companies in the world, will accept real estate – they are only comfortable taking cash or stock.