Trump is unable to make $464 million bond in civil fraud case, his lawyers tell court

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 ordered to pay $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.)

An insurance broker, Gary Giulietti, who testified for Trump during the civil fraud trial, signed an affidavit stating that securing a bond in the full amount “is a practical impossibility.”

Potential underwriters are seeking cash to back the bond, not properties, according to Trump’s lawyers.

https://edition.cnn.com/2024/03/18/politics/trump-464-million-dollar-bond/index.html

No sane business person would take the risk to underwrite that amount in the first place not to talk of doing it for someone like Trump.

His allied should rally round and place a stake to rescue him out of this as his presidential ambition is at stake here.

I thought he used to brag he is a billionaire.
Up to the point of suing a journalist that referred to him as a millionaire

judatech:
I thought he used to brag he is a billionaire.
Up to the point of suing a journalist that referred to him as a millionaire

Do you really think that trump will may the money?