New York Attorney General Letitia James has contested Donald Trump's assertion that he might need to sell properties at a loss to obtain the bond required for appealing a $454 million civil fraud fine.
James stated in a court filing on Monday that Trump failed to present evidence that insurance companies specializing in such bonds were unwilling to provide them. Trump is requesting permission to post a smaller $100 million bond or to forgo posting any bond at all.
To halt the enforcement of the damage award while pursuing an appeal, Donald Trump is required to post a bond worth at least 110% of the total amount by March 25th.
In her court filing, Attorney General Letitia James contended that without a full bond, Donald Trump could potentially evade paying the fine even if his appeal is unsuccessful. She rejected Trump's argument that a bond is unnecessary because his ownership stake in his 40 Wall St. tower alone could cover the fine if he lost.
James emphasized the need for evidence demonstrating that surety companies declined to accept the skyscraper or his other real estate assets, as well as his private jets or helicopters, as collateral for an appeal bond.
