Trump Attorney's say securing $464M bond is "Practical Impossibility..."
Published Date: 3/19/2024
Source: WRAL
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 fined $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.) An insurance broker, Gary Giuletti, 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. Trump’s lawyers have asked the appeals court to delay posting the bond until his appeal of the case is over, arguing that the value of Trump’s properties far exceed the judgment. Subscribe to WRAL: https://youtube.com/c/wral5 Follow WRAL: Facebook: https://facebook.com/WRALTV X: https://twitter.com/WRAL IG: https://instagram.com/wral About WRAL-TV: WRAL is your Raleigh, North Carolina news source. Check out our videos for the latest news in Raleigh, local sports, Raleigh weather, and more at https://WRAL.com #localnews #northcarolina #breakingnews #live