Donald J. Trump’s lawyers disclosed on Monday that he had failed to secure a roughly half-billion dollar bond in his civil fraud case in New York, arguing that doing so was “a practical impossibility.”The filing, coming one week before the bond is due, raised the prospect that the former president might face a financial crisis unless an appeals court comes to his rescue.
Mr. Trump has asked the appeals court to pause the $454 million judgment that a New York judge imposed on Mr. Trump last month, or accept a bond of only $100 million.
The former president has been unable to secure the full bond, his lawyers said in the court filing on Monday, despite “diligent efforts.” Those efforts included approaching about 30 companies, and yet, they said, he has encountered “insurmountable difficulties.”The judge in the civil fraud case, Arthur F. Engoron, levied the penalty and other punishments on Mr. Trump after concluding that he had fraudulently inflated his net worth to obtain favorable loans and other benefits.
The case, brought by the New York attorney general, Letitia James, has posed a grave financial threat to Mr. Trump.
Persons:
Donald J, Trump, ”, Arthur F, Letitia James
Organizations:
Mr, New
Locations:
New York