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Attorneys for Donald Trump are offering to put up only $100m to post bond in an appeal of his $455m fraud trial judgment that would pause the massive ruling against him, signalling that the former president is coming up short to block it.
Donald Trump’s lawyers on Wednesday asked a New York appeals court to keep the $464 million judgment the former president owes as recompense for decades of financial fraud in the state, offering instead to post a $100 million bond while they appeal the ruling.
NEW YORK (AP) — Donald Trump’s lawyers told a New York appellate court Wednesday that he’s prepared to post a $100 million bond to halt collection of his staggering civil fraud penalty, arguing that provisions of the verdict make it impossible for the former president to secure a bond for the full amount.
Attorneys for Donald Trump on Wednesday said the former president and his co-defendants plan to post a $100 million bond to pause enforcement of their civil fraud judgment — though that is just a fraction of the total amount that they have been ordered to pay. To secure a "complete" appeal bond — which could cost more than $550 million — would be "impossible," the defense lawyers wrote in a court filing to the appellate division of Manhattan Supreme Court. New York Attorney General Letitia James, who brought the fraud case, urged the appeals court later Wednesday to deny Trump's bid to stay the judgment. "There is no merit" to the claim that "a full bond is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount," James wrote. "Defendants all but concede" that Trump "has insufficient liquid assets to satisfy the judgment," she wrote. James highlighted a claim from
A suspect in the killing of a woman at a New York City hotel was indicted Tuesday by a grand jury in Arizona's most populous county in the subsequent stabbing attacks of two women in the Phoenix area.
Former President Donald Trump is gearing up to fight a massive fine in the New York business fraud case that threatens to erase most of the cash he says he has on hand. But first, he has to secure a bond — and that might not be so easy. Trump on Friday was ordered to pay about $355 million in penalties, plus more than $98 million in interest after a judge found the former president liable for fraud for manipulating financial statements given to lenders. Every day, the accruing interest adds $87,502 to Trump's bill. Unless he wants to pay the entire penalty while his expected appeal is considered, Trump will need to post an appeal bond. This is typically up to 120% of the judgment
Former President Donald Trump is gearing up to fight a massive fine in the New York business fraud case that threatens to erase most of the cash he says he has on hand.