{"id":2201696,"date":"2024-03-19T08:49:02","date_gmt":"2024-03-19T12:49:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trumps-lawyers-say-securing-bond-for-massive-ny-civil-business-fraud-judgment-is-a-practical-impossibility\/"},"modified":"2024-03-19T08:53:48","modified_gmt":"2024-03-19T12:53:48","slug":"trumps-lawyers-say-securing-bond-for-massive-ny-civil-business-fraud-judgment-is-a-practical-impossibility","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trumps-lawyers-say-securing-bond-for-massive-ny-civil-business-fraud-judgment-is-a-practical-impossibility\/","title":{"rendered":"Trump&#8217;s legal team claims it&#8217;s virtually impossible to secure a bond for the hefty civil business fraud judgment in New York"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">42<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftrumps-lawyers-say-securing-bond-for-massive-ny-civil-business-fraud-judgment-is-a-practical-impossibility%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2201696&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Trump&#8217;s Legal Stalemate: Bond Dilemma in NY\u2064 Fraud Case<\/h2>\n<p>In a stunning\u200d turn of courtroom events,\u2064 former President Donald Trump&#8217;s legal team faces a daunting roadblock. Efforts to secure a bond for\u200d a <strong>$464 million civil business \u200bfraud judgment<\/strong> have hit a wall, posing a significant challenge to the Trump Organization&#8217;s operations.<\/p>\n<h3>The Struggle for Surety<\/h3>\n<p>Trump&#8217;s cadre of lawyers have <strong>hit an impasse in the appeals court<\/strong>. A key struggle \u2014 real \u2063estate, Trump&#8217;s familiar turf, isn&#8217;t being accepted as collateral by suretors. The Trump Organization is now grappling with the monumental\u200b task of generating approximately\u2062 $1 billion in liquid cash to maintain its functionality, as detailed in <a href=\"https:\/\/www.wsj.com\/us-news\/law\/trump-cant-secure-bond-for-454-million-civil-fraud-judgment-6c6fb7f1\" target=\"_blank\" rel=\"noopener\">The Wall Street Journal<\/a>.<\/p>\n<blockquote>\n<p>&#8220;Here, Defendants&#8217; ongoing\u200d diligent\u2062 efforts have proven that a bond in the judgment&#8217;s full amount is &#8216;a practical impossibility,'&#8221; the defense team <a href=\"https:\/\/s.wsj.net\/public\/resources\/documents\/Trump-New-York-appeals-court.pdf\" target=\"_blank\" rel=\"noopener\">asserted<\/a>.<\/p>\n<\/blockquote>\n<h3>Unprecedented Financial Hurdles<\/h3>\n<p>The legal team has left no stone unturned, approaching some 30 surety companies through four different brokers. Yet, the ask \u2014 \u200da bond of \u200cthis colossal magnitude \u2014 is unheard of for a private company. This legal predicament has piqued the \u200cinterest of criminal \u2064defense attorney David Gelman, who <a href=\"https:\/\/www.foxnews.com\/politics\/legal-experts-weigh-trumps-options-failure-secure-464m-appeal-bond-uncharted-territory\" target=\"_blank\" rel=\"noopener\">commented<\/a> to Fox News \u2062about the rarity of Trump&#8217;s situation and the flexibility\u2064 typically given to satisfy such bonds.<\/p>\n<h3>The Backbone of the Case<\/h3>\n<p>The \u200borigins of the trial trace \u200dback to accusations leveled by New York Democratic Attorney General Letitia James,\u2062 who alleges that Trump significantly inflated his net worth and consequently misled lenders. Judge Arthur Engoron&#8217;s landmark ruling last month in favor of James demanded\u200d a massive $350 million from Trump, a figure that bulls up to \u200b$454 \u2064million with interest \u2014 an amount \u2063barring Trump and\u2062 his sons from their New York business operations. The combined penalties levied against Trump and his co-defendants surpass the\u2062 staggering $464 million mark.<\/p>\n<h3>The Fight for Flexibility in Payment<\/h3>\n<p>Complications heightened when an appeals court judge dismissed Trump&#8217;s plea for a payment delay.\u200c Nevertheless,\u200b Trump was granted permission to continue business operations through the appeal, possibly paving the way for\u2062 an\u2062 alternative payment arrangement beyond the hefty bond demand. Trump&#8217;s defiance resounded in his \u2062plea to the appeals court for a full wave-off of the bond during the appeal, reiterating that the judgment was both excessive and inappropriate.<\/p>\n<h3>New York\u2019s Stern Warning<\/h3>\n<p>AG \u200dLetitia James remains uncompromising, with a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hypocrisy-on-full-display-in-biden-white-house-after-staffer-threatened-journalist\/\" title=\"Hypocrisy On Full Display In Biden White House After Staffer Threatened Journalist\">stern warning<\/a> that \u200dNew York will not hesitate to seize Trump\u2019s properties\u2062 should he fail to fulfill the financial judgment. Her <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/indiana-invites-chicago-cops-to-move-to-state-were-hiring\/\" title=\"Indiana Invites Chicago Cops To Move To State: \u2018We\u2019re Hiring\u2019\">office stands ready<\/a> to enforce the court&#8217;s decision through asset seizures to ensure compensations are made \u200cto New \u200dYorkers.<\/p>\n<h3>The Appeal and the Allegations<\/h3>\n<p>Trump&#8217;s appeal cites supposed legal and factual errors by\u200b Engoron, an overreach of jurisdiction,\u200c and political motives\u200b driving the lawsuit. Throughout the trial, Trump\u200b fortified his defense with testimony from\u200c bank executives and academic experts, yet the case&#8217;s undercurrent \u200bof\u200b politics\u2064 lingers \u2062\u2014 with James having pledged to pursue Trump legally during her campaign.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bob-menendez-hit-with-obstruction-of-justice-charges-in-new-indictment\/\" title=\"Bob Menendez faces new indictment for obstruction of justice\">legal saga surrounding<\/a> former President Trump is \u200dfar from over, with the <strong>uphill \u2062battle in securing a bond<\/strong> only the latest chapter in an increasingly complex case. As the \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/here-at-the-eight-republicans-who-could-get-into-2024-white-house-fight\/\" title=\"Here at the eight Republicans who could get into 2024 White House fight\">2024 presidential race heats<\/a> \u200bup, Trump&#8217;s financial and legal \u2063maneuvers continue to unfold, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/does-biden-have-anything-to-say-about-the-idaho-student-murders-or-only-tragedies-involving-guns-and-gays\/\" title=\"Does Biden Have Anything To Say About The Idaho Student Murders \u2014 Or Only Tragedies Involving Guns And Gays?\">capturing national attention<\/a> and setting precedents in the nexus \u200bof politics and judicial process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Trump&#8217;s attorneys reported their failure to obtain a bond for the $464 million business fraud judgment, despite efforts. In a New York Appeals Court filing, they revealed that sureties are unattainable for Trump and his company<\/p>\n","protected":false},"author":324,"featured_media":2201697,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/03\/GettyImages-1925060424-scaled-e1710848692820.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2201696","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/dw-wp-production.imgix.net\/2024\/03\/GettyImages-1925060424-scaled-e1710848692820.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2201696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/324"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2201696"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2201696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2201697"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2201696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2201696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2201696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}