02-28-2024, 1:33 PM

Trump must post the full bond amount for the $454 million civil fraud trial judgment, appeals court rules

An appeals court judge ruled Wednesday that former President Donald Trump must post the full bond amount to cover the $454 million civil fraud verdict.

However, Associate Justice Anil Singh lifted a ban on Trump's ability to borrow from a New York bank, allowing him to use his asset equity to back the full bond amount.

Singh also denied Trump's request to delay $454 million until his civil fraud appeal is complete.

According to the clerk's office, a full appellate panel will expedite Trump's motion for a stay pending appeal and likely rule by the end of March after the parties file briefs by March 18. No more oral arguments are scheduled before deciding.

Trump's attorneys offered to post a $100 million bond, about 22% of the judgment, to offset the fact that they can't get loans in the capital market.

“The judgment order unprecedented and punitive disgorgement of nearly $460 million and overbroad permanent injunctive relief against Appellants in the absence of legal authority or factual support,” Trump's attorneys wrote Wednesday.

The New York attorney general wants the full amount posted, rejecting the offer. Trump can obtain an insurer bond, they said in court papers. But one of Trump's lawyers said bonds need cash, which is the issue.

The 30-day clock for Trump to come up with the judgment began on February 23, so he must post the bond by March 25, when jury selection begins for his criminal trial on charges of covering up a hush money payment before the 2016 election. Trump has denied guilt.

Add comment