Donald Trump cannot get a $454 million bond to appeal his fraud case in New York because he has not found an insurance company that would guarantee this amount. This is reported by Reuters, according to UNN.
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Former US President Donald Trump has failed to obtain a $454 million bond to appeal his fraud case. Trump would have had to post this bond to appeal a court decision to pay a $464 million fine in a civil fraud case in New York.
Trump's lawyers said that they had not found an insurance company that would agree to issue a bond for such a large amount that would allow them to appeal the court's decision without paying the entire amount themselves. Therefore, Trump must either find cash or post a bond to avoid having his property seized.
In a petition to the state appeals court, Trump's lawyers asked for a stay of execution, arguing that the amount of the fine was excessive. They also asked to be allowed to post a $100 million bond while the appeal process continues.
If Trump loses the lawsuit and is unable to pay the verdict, the company that guaranteed the bond will be obliged to make payments.
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Earlier, Trump posted a $91.6 million bail to cover the verdict in the libel case against writer E. Jean Carroll.