Donald Trump’s financial credibility is officially in shambles as he reportedly attempted to get monetary backing from 30 underwriters for his civil fraud case bond and lawyers reveal it will be impossible for Trump to make the bond. Sharon Reed and Jackson White break it down on The Damage Report.
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Trump is unable to make $464 million bond in civil fraud case, his lawyers tell court – https://www.cnn.com/2024/03/18/politics/trump-464-million-dollar-bond/index.html
“CNN — Former President Donald Trump can’t find an insurance company to underwrite his bond to cover the massive judgment against him in the New York attorney general’s civil fraud case, his lawyers told a New York appeals court.
Trump’s attorneys said he has approached 30 underwriters to back the bond, which is due by the end of this month.
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote. (Trump himself was ordered to pay $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.)
An insurance broker, Gary Giulietti, who testified for Trump during the civil fraud trial, signed an affidavit stating that securing a bond in the full amount “is a practical impossibility.””
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240318__DR01BreakingBond
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