Trump's Lawyers Struggle to Secure Bond for $464 Million Fraud Case Judgment

Legal Battle Continues for Donald Trump

Amid the ongoing legal battle, former President Donald Trump and his legal team are facing difficulties securing a bond to pause a judge's ruling in a New York civil fraud case.

Unprecedented Bond Requirement

Trump's lawyers argue that the bond requirement of nearly half a billion dollars is unprecedented, effectively necessitating cash reserves approaching $1 billion. They emphasize the magnitude of this requirement, stating that very few bonding companies would consider a bond of such an enormous size.

Challenges and Obstacles

The lawyers highlight the challenges they are facing in finding a surety company that is willing to accept real estate as collateral. Despite approaching over 30 surety companies and proposing a combination of cash or cash equivalents and unencumbered real estate holdings as collateral, they express that the vast majority are unable to handle a bond of this size and are unwilling to accept the associated risk.

Previous Legal Defeat

Notably, Trump recently posted a bond exceeding $90 million to appeal a separate legal defeat in a defamation case. This bond was secured through a subsidiary of the insurance giant Chubb.

Expert Testimony and Criticism

The filing includes an affidavit from an insurance executive, Gary Giuletti, who attests to the challenges of obtaining a bond for Trump in the case. Giuletti, who previously testified as an expert witness in Trump's defense during the fraud trial, has been in contact with major insurance carriers but believes it is not feasible under the presented circumstances for the defendants to secure a bond. However, his prior testimony and personal relationship with Trump have faced criticism from Judge Arthur Engoron.

Attorney General's Response

Attorney General Letitia James has set a deadline for Trump to put up a bond for the entire judgment by March 25 to prevent her office from collecting the damages while he appeals. The state has indicated that it could seek to seize property from Trump if the judgment is not paid.

Implications and Challenges

With the impending deadline and the substantial bond requirement, Trump's legal team faces a practical impossibility in securing the bond in time, as they continue to navigate the complexities of the legal proceedings.

Future Political Landscape

Amidst these legal battles, speculations and warnings about the potential impact on the upcoming elections have emerged. Despite the challenges, the legal and financial implications could significantly influence the future political landscape.