Trump said he’s had to liquidate real estate properties to post a bond needed to appeal a $454 million civil fraud judgment.
Donald Trump said he may have to hold a « fire sale » for his assets to appeal the $454 million civil fraud judgment against him.
On Tuesday, Trump wrote in a Truth Social post that he would be « forced to mortgage or sell Great Assets, perhaps at Fire Sale prices » if he is going to fight the judgment in New York Attorney General Letitia James’ lawsuit against him. Her case accused him of deceiving banks and insurers by inflating his wealth on financial statements when trying to get loans and make deals.
Trump and his team have indicated they plan to appeal the February 16 judgment order from Judge Arthur Engoron. But to stop the state from enforcing the judgment while he fights it in the courts, the former president has to deposit the full amount he’s been ordered to pay, including interest, into a court account.
That has proved to be a challenge for Trump, whose legal fees continue to mount as he fights the various civil and criminal cases against him. On Monday, his attorneys told a New York appeals court that despite approaching 30 underwriters to back the bond, Trump cannot find an insurance company to underwrite a bond that would cover the judgment against him.
