Donald Trump is unable to come up with almost half a billion dollars he owes the New York attorney general for committing large-scale fraud, according to court papers filed Monday.
With one week to go before the former president’s deadline to put down at least $454 million while he appeals the mammoth judgment, Trump’s lawyers in Manhattan Supreme Court filings said they were unable to come up with the cash.
“Despite scouring the market, we have been unsuccessful in our effort to obtain a bond for the Judgment Amount for Defendants for the simple reason that obtaining an appeal bond for $464 million is a practical impossibility under the circumstances presented,” read an affidavit Trump’s lawyers submitted from a representative for an insurance brokerage firm.
“Simply put, a bond of this size is rarely, if ever, seen. In the unusual circumstance that a bond of this size is issued, it is provided to the largest public companies in the world, not to individuals or privately held businesses.”
AP Photo/Ted Shaffrey
New York Attorney General Letitia James, front left, walks in the St. Patrick’s Day parade on Fifth Ave. on Saturday. (AP Photo/Ted Shaffrey)
Trump and his top executives at the Trump Organization in February were found liable for multiple fraud claims in AG Tish James’ September 2022 case. Judge Arthur Engoron determined after a nearly three-month trial that they intentionally lied about Trump’s net worth for years to secure better terms in business deals.
Engoron ordered Trump and his crew to collectively pay the AG around $464 million, including interest — with most of that sum owed by Trump.
Trump has until March 25 to secure the judgment in a court-controlled account while he appeals before James can begin the collection process.
This developing story will be updated.
