Former President Trump has been ordered to post a $454 million bond by the end of Monday in the ongoing civil trial led by New York Attorney Letitia James. However, it remains unclear what the 2024 GOP presumptive nominee will do as he continues to appeal the state’s decision.
The deadline for Trump to post the bond, as stated by Letitia James’ office, is the end of the day on Monday. Trump and his legal team have appealed the civil fraud judgment and have also requested a stay on the $454 million judgment.
In their argument, Trump’s lawyers have stated that it is practically impossible to post the bond in its full amount, despite their ongoing efforts to approach approximately 30 surety companies.
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They claim that the bond requirement, which effectively demands cash reserves approaching $1 billion, is unprecedented for a private company. Letitia James has pushed back against Trump’s request, deeming it “extraordinary” and “improper.”
She believes that Trump should be able to secure the entire value through multiple sureties or by offering his real estate holdings as collateral.
However, Trump’s attorney, Clifford S. Robert, has argued that James’ efforts are unconstitutional and has sent a letter to the appellate division of New York’s Supreme Court expressing this viewpoint.
If Trump fails to post the bond by the deadline, Letitia James is expected to take steps to enforce the judgment. This does not automatically mean that Trump’s real estate will be turned over to the state.
Instead, James would begin filing liens on his property if he did not post the bond. While James could attempt to foreclose through these liens, both parties have the right to object and request a court stay or halt James’ efforts.
Seizing or placing liens on properties such as Mar-a-Lago and other Trump properties outside of New York would be more challenging for James. Additionally, she could start freezing Trump’s bank accounts starting Tuesday by ordering sheriff’s or marshal’s offices to freeze and turn over his money.
Trump has vowed to fight the case “all the way up to the U.S. Supreme Court if necessary.” The former President said he can afford to post the bond but is pushing his legal team to appeal the ruling altogether. He claims to have nearly $500 million in cash and remains determined to challenge the judgment.
Trump dismissed the trial as a “witch hunt” throughout the process, accusing both Engoron and James of serving as political operatives for Democrats. Trump’s legal team also repeatedly blasted the lack of a jury in the trial.
“There was never an option to choose a jury trial. It is unfortunate that a jury won’t be able to hear how absurd the merits of this case are and conclude no wrongdoing ever happened,” a Trump spokesperson said.
Throughout the trial, Trump attorneys brought witnesses, including former Deutsche Bank top executives, who testified the banks sought additional business from Trump, whom they viewed as a “whale of a client.”
Trump’s defense also called on expert witnesses, including New York University accounting professor Eli Bartov, who evaluated the Trump financial accounts at issue in the case and found no evidence of accounting fraud.
Last month, Bartov testified that Trump’s financial records did not violate accounting principles, and he said that anything questionable, such as a significant year-over-year increase in the estimated worth of his Trump Tower penthouse, was just an error.
“My main finding is that there is no evidence whatsoever of any accounting fraud,” Bartov testified. Trump’s financial statements, he said, “were not materially misstated.”
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