Donald Trump unable to make $707 million bond in civil fraud case, his lawyers tell court
An insurance broker, Gary Giulietti, who testified for Trump during the civil fraud trial, signed an affidavit stating that securing a bond in the full amount "is a practical impossibility."
Potential underwriters are seeking cash to back the bond, not properties, according to Trump's lawyers.
Trump's lawyers have asked the appeals court to delay posting the bond until his appeal of the case is over, arguing that the value of Trump's properties far exceed the judgment. If the appeals court rules against him, Trump asked the court to delay his posting the bond until his appeal to New York's highest court is heard.
Last month, Trump was ordered to pay $541 million in disgorgement, or "ill-gotten gains," by New York Judge Arthur Engoron in a civil fraud case brought by New York...