Is former President Donald Trump broke? Trump reportedly can’t finance an appeal bond for at least $450 million to cover a judgment in the New York attorney general’s business fraud case against him. It’s considered too big a sum (and most likely too risky since Trump’s track record of paying his bills isn’t terrific). The Washington Post:
Donald Trump has been unable to finance an appeal bond for at least $450 million to cover a judgment in the New York attorney general’s business fraud case against him and is seeking a reprieve from an appellate court to keep the state from seizing assets, according to a court filing Monday.
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The former president’s lawyers said in the filing that Trump and the Trump Organization, the real estate hospitality and golf resort company he solely owns, have been unable to get a surety company to accept property as collateral — stalling any efforts to obtain a bond that is due to be posted in a week.“Critical among these challenges is not just the inability and reluctance of the vast majority of sureties to underwrite a bond for this unprecedented sum, but, even more significantly, the unwillingness of every surety bond provider approached by Defendants to accept real estate as collateral,” Trump’s attorneys wrote.
Axios notes that “If Trump and others can’t secure the bond as required by New York law, they may be unable to appeal the damages and interest they were ordered to pay.” And also:
In Monday’s filing, Trump’s lawyers said he has been unable to find a company willing to cover the $464 million bond.
They said they’ve approached around over two dozen companies through four separate brokers and have spent “countless hours negotiating” without securing an underwriter. “Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,'” the lawyers wrote.
Trump is broke. SAD! pic.twitter.com/nmbjNvB2fw
— Republicans against Trump (@RpsAgainstTrump) March 18, 2024
Trump says he is popular, he's not. He says he's rich, but he's broke. He says he's a "very stable genius" while his mental state is deteriorating in front of us daily. Everything is a lie.
— The Lincoln Project (@ProjectLincoln) March 18, 2024
But what about Trump's good name….. oh wait… https://t.co/vT45PBA0jc
— Andrew C Laufer, Esq (@lauferlaw) March 18, 2024
Why can't Trump pay for this out of his own holdings? I don't understand. If Trump is rich, worth billions, why can't he pay for this? They all knew this was coming. Why did he need to a loan to cover the E. Jean Carroll defamation? Is he not actually wealthy? https://t.co/yHV32n4fp0
— Simon Rosenberg (@SimonWDC) March 18, 2024
Remember when his saps said they voted for him because he was such a successful businessman? That was funny. https://t.co/79HUzgzgAH
— Dick Polman (@DickPolman1) March 18, 2024
Not only is he not a billionaire, but he doesn't even have billionaire friends that want to help him.
— The Lincoln Project (@ProjectLincoln) March 18, 2024
Trump admits he’s broke, says in new court filing he CANNOT secure a bond for his $464 million civil fraud judgment. pic.twitter.com/p2MXX0iz6V
— Mike Sington (@MikeSington) March 18, 2024
TRUMP WILL LIKELY HAVE TO LIQUIDATE?
As you know today Trump’s lawyers told the NY court overseeing his fraud case that Trump “can’t find an insurance company to underwrite his $454 million bond. He'll likely have to start selling things off.
Do you feel sorry for him? pic.twitter.com/hi7KbDSJfO
— Lovable Liberal and his Old English sheepdog (@DougWahl1) March 18, 2024
There’s a reason why Trump can’t secure a loan to post a bond for the 454 million dollar judgment against him for Fraud. Because every bank in the world knows he’s a Fraud.
— Rob Reiner (@robreiner) March 18, 2024
Turns out when Trump can’t inflate his assets, he can’t get a loan. ?
— Rachel Bitecofer ???? (@RachelBitecofer) March 18, 2024
If I could not make bond, they would execute judgement. This is a test of the US system and the concept of equal justice before the law. https://t.co/8BIsmuTqrN
— Jon B. Wolfsthal ??? (@JBWolfsthal) March 18, 2024
Hey, Forbes and others who have continued to document Trump as a billionaire– isn't it time for a heartfelt retraction? https://t.co/NUKHL2h5zo
— Norman Ornstein (@NormOrnstein) March 18, 2024
But he says he's allegedly worth $9 billion. He could pay the penalty in full and still be worth $8.5 billion… right? https://t.co/2qvvhv6Uad
— Bob Cesca (@bobcesca_go) March 18, 2024
"[W]e have substantially in excess 400 million in cash." — Donald Trump, under oath.
— Jon Henke (@JonHenke) March 18, 2024
Photo 29333130 | Broke © Arnel Manalang | Dreamstime.com
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Joe Gandelman is a former fulltime journalist who freelanced in India, Spain, Bangladesh and Cypress writing for publications such as the Christian Science Monitor and Newsweek. He also did radio reports from Madrid for NPR’s All Things Considered. He has worked on two U.S. newspapers and quit the news biz in 1990 to go into entertainment. He also has written for The Week and several online publications, did a column for Cagle Cartoons Syndicate and has appeared on CNN.