Posted on 03/18/2024 7:57:38 AM PDT by CFW
Former President Donald Trump has been unable to secure the $454 million bond, the full amount of the civil fraud judgment against him, which he must post in order to appeal, his attorneys said in a filing Monday.
Trump offered last month to post a $100 million appeal bond rather than the full amount as the process plays out in court, but the judge denied the proposal.
Trump's "ongoing diligent efforts have proven that a bond in the judgment’s full amount is 'a practical impossibility,'" the former president's lawyers said, per NBC News. "These diligent efforts have included approaching about 30 surety companies through 4 separate brokers."
Efforts to secure the bond include "countless hours negotiating with one of the largest insurance companies in the world," but the work has been unfruitful, per the document.
(Excerpt) Read more at justthenews.com ...
1) NO Trump lawyer is named. DO NOT accept this at face value.
2) Sorry, but the guy just INCREASED his net wealth by $4 billion. Pretty sure someone will lend him money.
Wow. Thanks.
It was in a court filing which is public record.
I get that, but here’s the thing. The ATTORNEYS can say that in a filing-—but it doesn’t mean it’s true. It’s an appeal. It may well be a maneuver.
Lying on court documents is illegal and subject to major penalties. Do the attorneys really want to risk their careers for him?
It’s not a lie to say “we can’t do it today” if you can’t do it today but can do it tomorrow.
Per the filing: “In short, “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.” Id. ¶ 16. The actual amount of cash or cash equivalents required “to collateralize the bond and have sufficient capital to run the business and satisfy its other obligations” “approach[es] $1 billion.” Id. ¶ 17. As a result, “obtaining a bond for $464 million is a practical impossibility.” Id. ¶ 18. “
I see no hedging or fudging in the verbiage. Nothing about being unable to get it today or tomorrow or whenever.
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