Special Poll
Former President Trump claimed that to cover a $464 million bond required in his New York civil fraud lawsuit, he might need to drastically sell off his assets at reduced “fire sale” prices. Trump expressed frustration with New York Judge Arthur Engoron, who presided over the fraud case, through a post on Truth Social, criticizing the judge’s decision which necessitated the bond for appealing the case.
Trump conveyed his dismay, stating that the judge’s demand for such a substantial amount to preserve his right to appeal was unprecedented and seemed to strip him of his appellate rights. He argued that to meet the bond, he would need to liquidate valuable properties at potentially low prices, risking loss of these assets permanently if he were to win the appeal, labelling the situation as a “witch hunt” and “election interference.”
This outcry followed a revelation by Trump’s attorneys that securing the full bond amount was challenging, citing the inability to find a Treasury Department-approved surety firm that could underwrite the bond at such a magnitude. They highlighted that most approved entities typically do not issue bonds exceeding $100 million, and also mentioned the complication that Trump cannot use his property as collateral for the bond.
The legal team elaborated on the financial constraints, noting that although the Trump Organization has significant liquidity, it lacks the cash or cash equivalents to the tune of $1 billion. Given the organization’s extensive investment in real estate, procuring a bond of $464 million posed a considerable challenge.