Trump Can’t Obtain Appeal Bond in New York Fraud Case

Video Credit: Wibbitz Top Stories
Published on March 18, 2024 - Duration: 01:31s

Trump Can’t Obtain Appeal Bond in New York Fraud Case

Trump Can’t Obtain Appeal Bond , in New York Fraud Case.

According to a New York court filing on March 18, Trump isn't able to secure a $454 million bond as he appeals a civil business fraud judgement against him, CNBC reports.

.

Trump's attorneys said that getting the bond is "impossible" since it would "effectively" require "cash reserves approaching $1 billion.".

Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility.’, Donald Trump's lawyers, via CNBC.

Gary Giulietti, president of the Northeast division of the Lockton Companies, was hired to help Trump obtain a bond.

Despite scouring the market, we have been unsuccessful in our effort ... for the simple reason that obtaining an appeal bond for $464 million is a practical impossibility under the circumstances presented, Gary Giulietti, president of the Northeast division of the Lockton Companies, via CNBC.

Simply put, a bond of this size is rarely, if ever, seen, Gary Giulietti, president of the Northeast division of the Lockton Companies, via CNBC.

In the unusual circumstance that a bond of this size is issued, it is provided to the largest public companies in the world, not to individuals or privately held businesses, Gary Giulietti, president of the Northeast division of the Lockton Companies, via CNBC.

Giulietti went on to say that a private company would need about $1 billion to put up as collateral to receive a bond of that size.

.

While it is my understanding that the Trump Organization is in a strong liquidity position, it does not have $1 billion in cash or cash equivalents, Gary Giulietti, president of the Northeast division of the Lockton Companies, via CNBC.

Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case brought against him by writer E.

Jean Carroll.

.

Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case brought against him by writer E.

Jean Carroll.


You are here


💡 newsR Knowledge: Other News Mentions

Donald Trump

President-elect and 45th president of the United States
The judge presiding over Donald Trump's New York hush money trial has postponed the sentencing scheduled for next week and has granted permission for his lawyers..
Credit: Sky News - Published 4 hours ago

Donald Trump has pledged for years to surround himself with ultra-loyalists who can mould his government to his vision without barriers. 
16 hours ago • Sky News
Neil Robertson will play world number one Judd Trump in the first round of the UK Championship after beating Matthew Stevens 6-2 in the final qualifier.
Credit: BBC Sport - Published 21 hours ago


New York City

Most populous city in the United States
Connie Nielsen's giving hope to Denzel Washington fans everywhere ... 'cause while the actor says he's nearing retirement, Nielsen says she won't let him quit..
Credit: TMZ.com - Published 3 hours ago

A banana duct-taped to a wall has sold for $6.2m (£4.9m) at an auction in New York.
1 day ago • Sky News

Related news from verified sources

A state appeals court significantly reduced the bond Trump had to post in a New York fraud lawsuit from over $500 million to $175 million.. Concurrently, Trump...
on March 26, 2024 • IndiaTimes

New York lawyers advise on Trump's appeal bond challenging a $454M judgment. State suggests alternatives. Legal battle intensifies over inflated wealth claims....
on March 21, 2024 • IndiaTimes

Donald Trump won a bid on Monday to pause his $454 million civil fraud judgment if he posts a smaller $175 million bond within 10 days, in a victory for the...
on March 25, 2024 • IndiaTimes

Related videos from verified sources

Judge Imposes Gag Order on Donald Trump Amid Hush Money Trial Proceedings 00:50
Video credit: FanReviews - Published on March 26, 2024 

Trump Secures Pause on $454 Million Civil Fraud Ruling, Prevents Asset Seizures in NYCase| OneIndia 02:40
Video credit: Oneindia - Published on March 26, 2024 

Trump’s Civil Fraud Judgement Bond Is Reduced to $175 Million 01:31
Video credit: Wibbitz Top Stories - Published on March 25, 2024 

You might like