Donald "You gotta pay your bills!" Trump, who plays a billionaire on TV, has come up short.
Today, Trump's lawyers told the court he couldn't post a bond in his $464 million New York fraud case. No one wants to value his "trumped-up" real estate as collateral, and potential insurers will only take cash to back his bond. Trump is begging the court to allow his appeal to go forward without him posting bond, and stay the AG's impending seizure of his assets.
Trump's attorneys said he has approached 30 underwriters to back the bond, which is due by the end of this month.
"The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude," Trump's lawyers wrote. (Trump himself was fined $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.)
An insurance broker, Gary Giuletti, who testified for Trump during the civil fraud trial, signed an affidavit stating that securing a bond in the full amount "is a practical impossibility."
CNN
