Filing shows Trump is «lying,» reluctant to «squander limited assets» or deemed untrustworthy, professor says.
Former President Donald Trump asserted earlier this week that he is unable to secure a bond to cover his $450+ million civil fraud judgment but the New York attorney general made it clear on Wednesday that she’s not buying it.
In a nine-page filing, Attorney General Letitia James urged an appeals court to disregard the former president’s claim that he cannot obtain an appeal bond for the massive judgment after approaching 30 surety companies through four brokers. Seeking from the court a pause on the execution of the judgment or a steep drop in how much he must post, Trump’s attorneys also argued that bond companies are generally not capable of underwriting such sums, and said the companies told Trump they are unable to accept real estate assets as collateral, according to The .
A lawyer for James, Dennis Fan, in response called Trump’s filing «procedurally improper» and argued Trump has not explained why he can’t post his real estate or obtain a letter of credit. Trump’s team also should have informed them of their bond issues earlier rather than days before payment is due, Fan said.
«As far as the Court can infer, sureties may have refused to accept defendants’ specific holdings as collateral because using Mr. Trump’s real estate will generally need ‘a property appraisal’ and his holdings are not nearly as valuable as defendants claim,» Fan added in the filing, seemingly taking aim at the true value of Trump’s assets.
The former president’s «alleged difficulty» in obtaining a bond raises a number of questions about what underlies his claims, Bennett Gershman, a Pace University law professor and former New York prosecutor, told Salon.
The likely GOP presidential nominee could be «lying,» reluctant to «squander limited assets» needed for his campaign, or considered financially untrustworthy given the «lengthy history of his business fraud and numerous bankruptcies,» he said.
«I find it strange that Trump is essentially claiming that he either does not have sufficient assets to cover a bond or that bonding companies don’t trust him,» Gershman added.
