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 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.
