What Trump’s Lawyers Revealed
Donald Trump’s lawyers recently made a court filing stating that the former president is having trouble finding an insurance company to back his bond in a civil fraud case. He needs at least $464 million underwritten, but with fees and interest, the total amount could exceed $550 million. Despite claiming to be financially stable with substantial assets, Trump may have to use his real estate as collateral for the bond.
The Search for Insurance Companies
Trump has approached 30 underwriters, but none have been willing to accept real estate as collateral. This has become a major obstacle for him, as very few bonding companies are willing to consider a bond of such a large magnitude.
Legal Maneuvers
Trump’s attorneys are asking the appellate court to allow him to secure a bond in a lesser amount to avoid massive losses from selling off real estate holdings. They are also requesting a delay in posting the bond until after his appeal is resolved.
As the deadline for the bond approaches, Trump continues to accrue interest on the judgment. It has been suggested that he deposit the full amount into an escrow account while awaiting the court’s decision.
The news of Trump’s financial struggles has sparked a reaction on social media, with many users poking fun at his claims of wealth. Check out some of the humorous reactions on X, formerly known as Twitter.
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