03/18/2024

Trump Fails to Secure Bond for $454 Million Judgment in Civil Fraud Case

Meanwhile, asset seizures loom

Donald Trump's efforts to secure a bond to cover a $454 million judgment in a New York civil fraud case has been rejected by 30 surety companies, his lawyers said on Monday, inching him closer to the possibility of having his properties seized.

The former president must either pay the sum out of his own pocket or post a bond to stave off the state's seizure while he appeals Justice Arthur Engoron's Feb. 16 judgment against him for misstating property values to dupe lenders and insurers.

Trump, two of his adult children and other Trump Organization executives had so far approached the 30 companies through four separate brokers without success, his lawyers said. The other defendants face judgments totaling $10 million.

Please select this link to read the complete article from Reuters.