- ORIGINAL NEWS
‘Who’s going to do that?’: Trump faces hurdles in securing appeal bond for fraud case
- SUMMARY
Donald Trump lost a civil fraud trial in New York and was ordered to pay over $450 million in penalties.
To appeal the ruling, he’ll need to post an appeal bond, which could be as high as $540 million.
Trump’s lawyers said they’re prepared to post a roughly $400 million bond.
If Trump doesn’t post the bond, he’ll have to pay the entire penalty.
Trump’s businesses were accused of misrepresenting the values of their assets to banks and other lenders.
A jury found him liable and awarded the penalty.
Trump has vowed to appeal the ruling.
An appeal bond is used to guarantee that someone ordered to pay a judgment will make the payments.
The bond is typically 120% of the judgment amount plus interest.
Trump might need to liquidate assets to secure the bond.
- NEWS SENTIMENT CHECK
- Overall sentiment:
negative
Positive
“Trump attorney Alina Habba said they are ‘prepared’ to post a roughly $400 million appeal bond.”
“Habba said she expects to post a roughly $400 million bond within a 30-day window to file a notice of appeal, which begins after a court clerk enters Engoron’s final judgment.”
Negative
“Former President Donald Trump is gearing up to fight a massive fine in the New York business fraud case that threatens to erase most of the cash he says he has on hand.”
“Judge Arthur Engoron found Trump liable for fraudulently misstating his asset values on key financial statements.”