Trump Faces Challenges Posting $464 Million Bond in Civil Fraud Case
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Former President Donald Trump's legal team told a New York appeals court that Trump is unable to post a $464 million bond due next week in a civil fraud case against him.
The Details: According to Trump's lawyers, obstacles have arisen in securing approval from a surety company for the bond, with some having an internal policy limiting bonds to $100 million. The lawyers said sourcing such a sum through a 'fire sale' of real estate holdings would result in 'irreparable injury'. Trump's legal team is appealing the decision made by Judge Arthur Engoron, which would mean Engoron could proceed with the collection of the payment up until Trump's appeal is settled.
For Context: Last month, Engoron ruled that Trump has to pay nearly $355 million in penalties as part of the civil fraud case that has significantly impacted his family’s business empire in New York.
Key Quotes: Trump said in a Truth Social post, “Nobody has ever heard of anything like this before. I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!”
How the Media Covered It: Coverage often reflected diverging attitudes about the former president; some right-rated outlets highlighted Trump’s claim of “election interference,” and some left-rated outlets said Trump “lashed out” over his legal troubles. This summary was developed with the help of AllSides' AI technology.
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