Internet trolls Donald Trump on admitting 'practical impossibility' to secure $454M bond in NY fraud case

NEW YORK CITY, NEW YORK: Donald Trump's attorneys have informed a New York appellate court that securing a bond covering the full amount of $454M civil fraud judgment which is due next week is "not possible."

On Monday, March 18, Trump's attorneys wrote in a court filing that "obtaining an appeal bond in the full amount" of the judgment "is not possible under the circumstances presented."

Inside Donald Trump's New York fraud case

On February 16, New York State's Judge Arthur Engoron convicted the former POTUS of civil fraud for falsifying the business records of his Trump Organization.

Trump was then required to pay $355M to cover the amount he gained from falsifying the records, including interest, and in total, the court ordered him to pay out more than $454M, according to Daily Mail.

On February 26, Trump appealed the decision and to move forward with it, he must pay the bond amount by securing the full amount in court before the judgment begins on March 25.

Donald Trump's lawyers explain why he cannot secure $454M bond in New York fraud case

In the court filing, Trump's lawyers revealed they had spoken to 30 underwriters to back the bond and that their extensive efforts included "countless hours of negotiating with one of the biggest insurance companies in the world."

The judgment, which includes interest, stands at $456.8M, with the former president and his co-defendants, including his company and top executives, owing a total of $467.3M.

Trump's attorneys stated that the defendants would be required to post collateral worth $557M to obtain a bond.

"'Defendants' ongoing diligent efforts have proven that a bond in the judgment's full amount is 'a practical impossibility,''' read the filing.

"These diligent efforts have included approaching about 30 surety companies through 4 separate brokers," the filing added.

Internet calls Donald Trump an 'artificial billionaire' as he can't pay bond amount

Following Trump's lawyer informing the New York appellate court that he would not be able to pay the bond amount of $454M in his New York fraud case, netizens slammed the businessman. 

"He is broke, artificial billionaire," a user wrote on X (formerly Twitter) and another wrote, "How can this be? I thought he was so so rich. A billionaire he said!!!"

"What about using some of that cash he's supposed to have?" a user joked and another user wrote, "What a shame."

"Start seizing his assets! Of course, hard to say who would want to buy them. Fumigating to get rid of the stench of Trump would probably be prohibitively expensive," a user remarked.

 

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