Trump lawyers say he cannot post $454 million bond in civil fraud trial

WASHINGTON (Gray DC) - Former President Donald Trump’s lawyers told a judge Monday it is not possible to post bond for a $454 million dollar penalty issued in his civil fraud trial. To pause the judgment from going into effect, Judge Arthur Engoron gave Trump until March 25th to post a bond covering the full amount.

Engoron issued the massive financial penalty after he found Trump and his associates inflated assets for decades to receive favorable terms from banks and insurance companies. When interest is added, Trump owes $456.8 million total.

Trump’s lawyers told the judge to obtain a bond, they would need to come up with $557 million in collateral. The former president is hoping to pause enforcement of this judgment while he appeals Engoron’s decision. Trump’s legal team is questioning whether the court committed errors of laws or facts, abused its discretion, or acted in excess of its jurisdiction.

If this judgment is not paused and Trump cannot come up with the necessary funds to pay the penalty, New York State Attorney General Letitia James says she would try to seize Trump’s assets. In addition to the financial penalty, Engoron also ruled Trump cannot oversee businesses in New York for three years.

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