Former President Donald Trump has proposed to an appeals court to post a $100 million bond instead of the $454 million he owes from a civil fraud case held in New York. This proposal comes as his legal team requested a delay in enforcing penalties imposed on Trump and points to a deficit in the former President’s liquidity to cover the total penalty amount.
The filings by Trump’s representatives presented the view that the hefty judgment, in conjunction with a widespread prohibition on lending, would make it difficult to arrange for and post a full guarantee. Without acceptance of the bond by the appeals court or additional time granted to President Trump, the Attorney General of New York has the authority to seize Mr. Trump’s bank accounts and possibly take control of his New York properties based on state law.
In her counter-filing, New York Attorney General Letitia James disputed the offer, stating that there was no merit to the defendant’s view that a full bond or deposit was unnecessary. She dismissed the proposed partial guarantee of less than a quarter of the judgment amount, highlighting that the defendants lack sufficient liquid assets to satisfy the judgment. Trump also faces another cost as he owes $83.3 million to writer E. Jean Carroll after being found liable for defaming her.
