‘Who’s going to do that?’: Trump faces hurdles in securing appeal bond for fraud case
Former President Donald Trump is gearing up to fight a massive fine in the New York business fraud case that threatens to erase most of the cash he says he has on hand.
Former President Donald Trump is gearing up to fight a massive fine in the New York business fraud case that threatens to erase most of the cash he says he has on hand.
But first, he has to secure a bond — and that might not be so easy.
Trump on Friday was ordered to pay about $355 million in penalties, plus more than $98 million in interest after a judge found the former president liable for fraud for manipulating financial statements given to lenders. Every day, the accruing interest adds $87,502 to Trump’s bill.
Unless he wants to pay the entire penalty while his expected appeal is considered, Trump will need to post an appeal bond. This is typically up to 120% of the judgment plus the current interest.
At that rate, Trump’s original ruling with interest would indicate he will need to secure a bond worth more than $540 million. But it’s unlikely that the real estate baron will be able to use his properties as collateral.
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