.png)
.png)
On Monday, March 18th, 2024, lawyers for former President Donald Trump said it “is not possible” for them to post a $464 million bond in the New York civil fraud case. This prevents the NY Attorney General’s Office from collecting the judgment assessed against him while he tries to appeal the New York civil fraud case. His lawyers noted Trump was already turned down by 30 different bond companies.
In February 2024, Trump and his adult sons were ordered to pay $355 million in damages plus interest for what the court determined was more than a decade’s worth of fraud, conspiracy, and issuing false financial statements and business records in order to fraudulently inflate the value of their assets to falsely obtain profits and savings.
Defendants in civil cases in New York are required to post a bond of at least 110% of the judgment amount against them if they want to delay paying the plaintiff (here, the Attorney General’s Office, which brought the case against him) while they appeal their case. Trump’s lawyers stated in their March 18 filing that most bond providers are unwilling to insure a bond of such a high amount without considerable cash or stock assets from Trump to back up the bond. The lawyers say they have been seeking a bond backed by Trump’s real estate holdings, but have not been able to get one.
Trump has until March 25th to secure the bond. His lawyers previously offered to post a $100 million bond instead, but the court rejected the offer as insufficient. Trump’s lawyers have asked the New York appeals court, which is considering his appeal, to pause collection of the funds and stay the judgment – effectively moving the deadline for him to secure the $400 million plus bond – while he seeks review. If he is unable to get the bond and is not granted a delay to obtain one, NY Attorney General Letitia James may begin collecting the damages against Trump while he tries to appeal. AG James could seize Trump’s assets, including bank accounts and real estate holdings, to cover the judgment against him.
Trump has been indicted in four criminal cases and named as a defendant in two civil cases, including this civil fraud case. Learn more about the different cases Donald Trump faces here.