Attorney General Responds to Trump’s Bond Difficulties
The New York Attorney General’s office has fired back at former President Donald Trump’s claim of insurmountable challenges in obtaining the $464 million bond required in the civil fraud case against him. In a court filing, the AG’s office urged the appeals court to disregard Trump’s assertion, stating that the defendants have not adequately justified their difficulties in securing the mandated bond.
“The attorney general’s office urged the court to disregard Trump’s claim, stating that the defendants had not adequately justified their difficulties in securing the required bond.”
Trump’s Legal Team Cites Rejection by Insurers
Trump’s legal team recently argued that obtaining the necessary bond was nearly impossible after being rejected by 30 insurance companies. They cited demands for substantial collateral, such as cash or stock, totaling around half a billion dollars, which Trump allegedly could not provide. Additionally, they claimed real estate was not accepted as collateral by these insurers.
“Trump’s legal team had recently argued that it was nearly impossible for him to obtain the necessary bond after being rejected by 30 insurance companies.”
AG’s Office Suggests Alternative Options for Trump
According to the attorney general’s office, Trump should explore alternative options to secure the bond. These include persuading insurance companies to collaborate in underwriting the bond or providing a more detailed account of the obstacles encountered during negotiations. The filing also criticized the reliability of sworn statements from Trump’s insurance broker, Gary Giulietti, and Alan Garten, the top lawyer at the Trump Organization.
“The filing also criticized the reliability of sworn statements from Trump’s insurance broker, Gary Giulietti, and Alan Garten, the top lawyer at the Trump Organization.”
Deadline Looming for Trump’s Bond Payment
Trump has until Monday to post the bond unless the appeals court agrees to grant his motion to delay fronting the money until after the appeal is heard. The attorney general’s office suggested that Trump could have offered his real estate holdings as collateral or consented to have them held by the Supreme Court to satisfy the judgment.
“Trump has until Monday to post the bond unless the appeals court agrees to grant his motion to delay fronting the money until after the appeal is heard.”
The ongoing legal battle between the New York Attorney General and the former President continues to unfold, with both sides presenting their arguments in court filings.
