Trump Legal Team Tells Appeals Court He Cannot Post $464M Bond to Appeal NY Fraud Case

By Susie Moore | 12:10 PM on March 18, 2024

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Former President Donald Trump was ordered by the trial court in the civil fraud case brought against him by New York Attorney General Letitia James to pay fines north of $454 million. Trump has appealed the judgment, but in order to proceed with the appeal, is required to post a bond for the full amount.

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Unfortunately, according to his legal team, the former president is unable to secure the requisite bond, given the amount involved and the fact that potential underwriters want cash to back the bond, rather than properties.

Former President Donald Trump can’t find an insurance company to underwrite his bond to cover the massive judgment against him in the New York attorney general’s civil fraud case, his lawyers told a New York appeals court.
Trump’s attorneys said he has approached 30 underwriters to back the bond, which is due by the end of this month.
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote. (Trump himself was fined $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.)

Trump was able to post the requisite bond for his appeal of the verdict in the E. Jean Carroll defamation case earlier in March.

However, as noted above, the sheer magnitude of the amount required in the fraud case makes obtaining the requisite bond virtually impossible, particularly given the fact that underwriters apparently are demanding cash rather than properties to secure it.

Trump's legal team is requesting that the appeals court allow the appeal to proceed without the bond, given that the value of his properties far exceeds the amount in question. Whether the appeals court will relent remains to be seen.

This is a developing story. RedState will provide updates as they become available.

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