Trump lawyers say he can’t post bond for $454M civil fraud judgment

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 a $454-million US 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.”

Trump’s lawyers asked the state’s intermediate appeals court to overturn a previous ruling requiring that he post a bond covering the full amount in order to halt enforcement while he appeals the judgment in New York Attorney General Letitia James’ lawsuit.

With interest, Trump owes $456.8 million. In all, he and co-defendants, including his company, sons Eric and Donald Trump Jr. and other executives, owe $467.3 million. To obtain a bond, they would be required to post collateral worth $557 million, Trump’s lawyers said.

Trump is appealing Judge Arthur Engoron ruling in February that he, his company and top executives, including his sons, schemed for years to deceive banks and insurers by inflating his wealth on financial statements used to secure loans and make deals.

Among other penalties, the judge put strict limitations on the ability of Trump’s company, the Trump Organization, to do business.

Trump has until March 25 to pay the judgment or obtain a court order known as a stay, which would prevent enforcement while he is appealing. James has said she will seek to seize some of Trump’s assets if he is unable to pay.

James’ office declined comment Monday on Trump’s inability to secure a bond.

In a court filing last week, Senior Assistant Solicitor General Dennis Fan wrote that a full bond was necessary, in part, because Trump’s lawyers “have never demonstrated that Mr. Trump’s liquid assets — which may fluctuate over time — will be enough to satisfy the full amount of this judgment following appeal.”

Trump’s lawyers asked the intermediate appeals court, the Appellate Division of the state’s trial court, to consider oral arguments on its request, and they preemptively sought permission to appeal a losing result to the state’s highest court, the Court of Appeals.

Trump is asking a full panel of the Appellate Division to stay the judgment while he appeals. His lawyers previously proposed posting a $100-million bond, but Appellate Division Judge Anil Singh rejected that after an emergency hearing on Feb. 28.