In a recent court filing, the legal team representing New York Attorney General Letitia James has made a compelling argument that Donald Trump, alongside his co-defendants, should be mandated to secure a bond amounting to $464 million. This bond is intended to ensure the coverage of the judgment awarded in their civil fraud lawsuit. The insistence on this bond stems from concerns that the former president may not be in a position to fulfill the financial judgment or might seek ways to circumvent the penalties without such a guarantee in place.
Senior Assistant Solicitor Dennis Fan highlighted the substantial risk of the defendants attempting to dodge the enforcement of the judgment or complicating its enforcement post-appeal, should a full bond or deposit not be mandated.
This legal maneuver follows a request by Trump’s attorneys to the New York appellate court for an emergency stay to halt the enforcement of the $464 million judgment tied to the civil fraud case. Trump faced a $354.8 million fine, in addition to roughly $100 million in prejudgment interest, after it was determined by Judge Arthur Engoron that he had exaggerated his net worth to secure more favorable loan conditions.
Trump proposed a $100 million bond as opposed to the total amount, arguing that fulfilling the full amount would necessitate property sales. However, this proposal was not accepted by Judge Anil Singh, who left the decision on Trump’s delay to a full panel of appellate judges.
Reiterating the importance of equal treatment under the law, Attorney General James emphasized that Trump should adhere to the same regulations as any other defendant. This includes the legislative requirement for defendants to post a bond or deposit funds equal to the full judgment amount pending an appeal—a requirement that applies equally to Trump and his co-defendants.
Furthermore, the filing addressed Trump’s claim that he would need to sell properties to cover the judgment, stating that Trump has not substantiated this claim or demonstrated that his liquid assets would be insufficient to satisfy the judgment post-appeal.
The filing also shed light on the improbability of Trump’s appeal succeeding, citing the “brazen fraud” and illegal activities undertaken to enrich themselves through misleading financial statements.
Despite these allegations, the former president has consistently denied any wrongdoing and has appealed Judge Engoron’s ruling. He now faces a looming deadline to post the required bond in the civil fraud case.
In a related development, Trump managed to secure a $91,630,000 appeals bond from the Virginia-based Federal Insurance Company. This bond is intended to cover the $83 million judgment in the E. Jean Carroll case, plus interest, as Trump seeks to delay the financial penalty while appealing the defamation case.