Former President Trump is facing a financial challenge as he attempts to secure a $454 million bond in the New York civil fraud case. Trump and his legal team have appealed the judgment and have requested a stay, but they are required to post the bond by Monday. Trump claims to have nearly $500 million in cash, which he intends to use for his presidential campaign. However, New York Judge Arthur Engoron has ruled that Trump must pay over $350 million in damages to the state of New York.
Trump has been critical of the judge’s decision, referring to Engoron as a “political hack” and accusing him of being biased against him. He also criticized New York Attorney General Letitia James, who brought the case against him, calling her “corrupt” and accusing her of taking orders from the White House. Trump believes that the judgment against him is a result of election interference and claims that he did nothing wrong except win the 2016 election.
Trump’s lawyers argue that posting the full bond amount is a “practical impossibility” and have been approaching surety companies in an attempt to meet the requirement. They argue that the bond requirement is unprecedented for a private company and would effectively require cash reserves approaching $1 billion.
Attorney General James has pushed back against Trump’s request for a stay, arguing that he should be able to secure the entire value of the bond through multiple sureties or by offering his real estate holdings as collateral. However, Trump’s attorney has argued that James’ efforts are unconstitutional.
Trump and his legal team are exploring all options and are prepared to exhaust every avenue to secure a favorable outcome. They hope that their appeal will be granted and that the bond amount will be reduced. It remains to be seen how the court will rule on Trump’s appeal.
In conclusion, former President Trump is facing a significant financial challenge as he seeks to secure a $454 million bond in the New York civil fraud case. He has been critical of the judge and the attorney general involved in the case, accusing them of bias and corruption. Trump’s legal team is working diligently to explore all options and secure a favorable outcome.
