Adam Reiss is a reporter and producer for NBC and MSNBC.
Former President Donald Trump has not been able to get a bond to secure the $464 million fraud judgment against him, his lawyers said in a court filing Monday. Trump and his company need to post a bond for the full amount by next week in order to stop New York Attorney General Letitia James from being able to collect while he appeals. They've asked an appeals court to step in in the meantime and said Monday that they have not had any success getting a bond.
The other bond companies will not “accept hard assets such as real estate as collateral,” but “will only accept cash or cash equivalents ,” the filing said. He also noted those companies typically “require collateral of approximately 120% of the amount of the judgment” — which would total about $557 million. 'In addition, sureties would likely charge bond premiums of approximately 2 percent per year with two years in advance—an upfront cost over $18 million,' the filing said.
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