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Trump lawyers say that securing $464 million appeal bond a ‘practical impossibility’

March 19, 2024 | | Print Article

Lawyers for presumptive GOP nominee Donald J. Trump said that he has been unable to secure the nearly half-billion dollar bond that is needed to appeal the ruling in a New York civil fraud case.

In an appeals court filing, the former president’s attorneys said that obtaining the bond to guarantee payment of the $464 judgment of New York City judge Arthur Engoron that is required to allow him to appeal is a “practical impossibility under the circumstances presented.”

According to the filing, Trump is having difficulty due to the amount needed, and that 30 underwriters have been approached with no takers. “The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” the filing states.

A New York appeals court rejected Trump’s request to delay payment of the obscene amount and time is running out before New York Attorney General Letitia James can begin to seize his properties, something that she is eager to do.

“If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets,” James told ABC News last month. “We are prepared to make sure that the judgment is paid to New Yorkers, and yes, I look at 40 Wall Street each and every day.”

“I built a Magnificent Business, which helped rebuild New York City and State, with Amazing, Unparalleled, Historic Properties and tons of CASH, which Crooked Joe Biden and his Maniac Persecutors are trying to wrongfully and illegally take from me. A bond of the size set by the Democrat Club-controlled Judge, in Corrupt, Racist Letitia James’ unlawful Witch Hunt, is unConstitutional, un-American, unprecedented, and practically impossible for ANY Company, including one as successful as mine. The Bonding Companies have never heard of such a bond, of this size, before, nor do they have the ability to post such a bond, even if they wanted to….” Trump said in a Monday evening Truth Social post.

(Screenshot: Truth Social)

One legal expert told Fox News Digital that “everyone needs to realize how unprecedented this is.”

“There has never been a judgment of this magnitude against a company or individual in the history of New York, so we are really in uncharted territory,” said criminal defense attorney David Gelman, a former district attorney.

Gelman told the outlet that the former president has three options, “not appeal, ask the court to allow Attorney General James to use his property as collateral, or take it to a federal court and say the New York law is unconstitutional on its face.”

“Courts really don’t deny bonds when there are other ways to pay. Again, because this is so unprecedented, and I don’t care how rich you are, nobody has that much liquid cash. So if a court had the option to allow a defendant to use some other collateral to satisfy the bond, they will,” he said.

“You’re dealing with Trump. He’s not going anywhere. He’s the most famous and well known person in the world. It’s not like he can just disappear and can’t be found,” Gelman added.

Andrew Cherkasky, a former federal prosecutor, said that he “would not count Trump out yet” and even if his appeal is denied, that he “still has paths to move forward through federal court – ultimately to the Supreme Court to complain about Eighth Amendment violations.”

“Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted,” the Eighth Amendment reads.

“I think – and I hope – that the New York Court of Appeals looks at it appropriately,” Cherkasky added. “But like I said, I think even the Supreme Court would have an interest in this case on Eighth Amendment grounds.”

Fox News host Mark Levin wondered why billionaire GOP donors haven’t stepped in to help Trump.

“Why are there no Republican multi-billionaires offering to lend President Trump the funds to file his appeal in the outrageous case in NY state? Are none of them liquid enough to help or join with others to help? This is an outrage,” Levin wrote on X, formerly known as Twitter.

“The statute used to attack me has never been used for such a purpose before – No Jury allowed, ridiculous $18 Million Value for Mar-a-Lago, the Judge ignored the Statute of Limitations Decision by the Appellate Court, Ironclad Disclaimer Clauses, No Damages, No Victims – A Disgraceful “Case!” This Sham is forcing companies and people to flee New York, and stopping companies from entering – If they did, they would be crazy, because they don’t need the Communist China, or old Soviet Union, model of business to interfere with their Prosperity and Success. We will fight and defeat this Hoax, and all of the other Crooked Joe-directed Hoaxes, once and for all. If I wasn’t running for President of the United States, and leading by a lot, this kind of Witch Hunt would never have happened!” Trump in a second post to Truth Social.

Chris Donaldson
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