Donald Trump Scrambling For Cash To Make $454M Bond In NY Civil Case

Former President Donald Trump has been ordered to pay a multi-million-dollar bond in his New York civil case but is scrambling for cash.

The 77-year-old has an estimated net worth of 2.6 billion dollars. However, he is reportedly struggling to collect enough money to pay the $454M bond, which must be paid by the end of the month.

Trump's tax returns and financial records have been a subject of controversy and legal battles, with some claiming there were discrepancies or manipulations in those docs. The 77-year-old went to court due to these claims, but ultimately, Manhattan Supreme Court Judge Arthur Engoron found him liable for conspiring to manipulate his net worth.

The former President of the United States and his co-defendants were ordered to pay $464 million in damages after he was found liable

Trump must pay $454M of that total.

According to Trump's attorneys, they are having trouble finding an insurance company willing to secure the multi-million-dollar bond. In fact, the team said it is a "practical impossibility."

Trump's team has approached 30 underwriters to back the bond, but none of them have agreed. "The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude," the docs say, per TMZ.

According to the filing, the team's efforts include "countless hours negotiating with one of the largest insurance companies in the world," which is why they say obtaining the $454M is not practical.

Additionally, Trump cannot use real estate assets to get enough cash as Trump's lawyers say "that potential underwriters typically look for the bond to be backed by cash or cash equivalents," per TMZ. "His team says Trump would need cash reserves nearing $1 billion for an insurance company to come aboard," which sounds unlikely at this point.

The 77-year-old's lawyers have "petitioned the appeals court to stay the imposition of the massive monetary judgment without requiring the posting of the bond during the appeal," per TMZ.

If approved, this wouldn't allow New York Attorney General Letitia James to enforce the bond collection, however, a decision on his filing has yet to be made.

The bond is due by the end of the month.

While the former President is having trouble gathering enough cash to post his multi-million-dollar bond in the New York civil case, he recently posted his $91.6M Bond in the E. Jean Carroll case.

As The Blast previously reported, the 77-year-old former President was ordered to pay Carroll $11 million to fund “a reputational repair campaign." He must also pay her $7.3 million for the emotional harm caused by his public statements and $65 million in punitive damages for his malicious acts in his previous statements.

Shortly after the verdict was read, Trump, who was not present in court at the time, took to social media, claiming the ruling is “absolutely ridiculous,” stating that he “fully disagrees with both verdicts, and will be appealing this whole Biden Directed Witch Hunt focused on me and the Republican Party.”

He then said "our legal system" is "out of control, and being used as a Political Weapon. They have taken away all First Amendment Rights. THIS IS NOT AMERICA!”

The 77-year-old has since obtained an appeals bond from the Virginia-based Federal Insurance Company totaling $91,630,000 to cover the $83 million judgment in the case -- plus interest.

The former President of the United States posted the nearly $92M bond, which allows Trump to "stop the penalty from being enforced while he challenges January’s verdict at the US Court of Appeals for the Second Circuit," per the New York Post.

Trump also filed a notice of appeal of the judgment to the United States Court of Appeals for the Second Circuit.

"President Trump respectfully requests that this Court recognize the supersedeas bond obtained by President Trump in the sum of $91,630,000.00 and approve it as adequate and sufficient to stay the enforcement of the Judgment," Trump's attorney Alina Habba said in the filing, adding, "to the extent that the Judgment awards damages, pending the ultimate disposition of President Trump's appeal."