Trump’s lawyers admitted in court that he can’t post the $454 million fraud bond because he doesn’t have the money to support it.
CNN reported a statement from Trump’s lawyers.”
The judgment amount, including interest, exceeds $464 million, and very few bail bond companies will consider a bail of anything approaching that size,” Trump’s lawyers wrote. (Trump himself was told ordered to pay $454 million; the $464 million includes disgorgement for his adult sons Don Jr. and Eric.)
An insurance broker, Gary Giulietti, who testified on Trump’s behalf during his civil fraud trial, signed an affidavit saying securing bail for the full amount “is virtually impossible.”
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According to Trump’s lawyers, potential underwriters are seeking money to back the bond, not property.
No bond company is crazy enough to give Trump a $454 million bond without the cash to back it. Bonding companies don’t want buildings or assets. They want cold, hard money. If Trump had the money to post bail. he wouldn’t need a surety company to post it for him.
Donald Trump’s problem is that he doesn’t actually own much real estate in New York. His largest holding appears to be Trump Tower, but it is unclear whether he is the outright owner. Other buildings that bear Trump’s name in New York or that are listed among his holdings are licensing deals, land leases or places that he may own a portion of.
It is very difficult for Trump to sell a building or two in New York to cover the bond when he doesn’t own much in New York to sell.
James may take over Trump Tower and 40 Wall Street, but unless Donald Trump wants to sell his Florida properties, it’s clear why he’s struggling to come up with the money.
Donald Trump’s illusion of vast wealth was just another scam.
and they move or pack their bags and put an end to this investigation.
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Jason is the managing editor. He is also a member of the White House press pool and a congressional correspondent for PoliticusUSA. Jason has a bachelor’s degree in political science. His graduate work focused on public policy, with a specialization in social reform movements.
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