Trump's Empire at Risk Amid $454M Civil Fraud Judgment Woes
March 19, 2024Donald Trump's real estate empire faces a potential crisis with a $454 million civil fraud judgment.
Trump's legal team has been unable to obtain a $464 million appeal bond from insurance company Chubb.
The attorneys have requested an appeals court to temporarily halt the judgment to prevent immediate collection by the New York Attorney General.
Challenges in posting a full appeal bond are attributed to surety companies' reluctance to accept 'hard' assets as collateral.
Without a stay within the 30-day period, the Attorney General will begin collecting on the judgment.
Trump has made unfounded accusations against the judge and New York Attorney General but is permitted to appeal without upfront payment.
The case remains unresolved with the future impact on Trump's business empire uncertain.
Summary based on 30 sources
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Sources
BBC News • Mar 19, 2024
Trump needs a $464m bond in six days. What if he can't get it?Yahoo News • Mar 19, 2024
“Those are his babies”: Ex-Trump aide predicts he’ll be “devastated” if AG seizes beloved propertiesYahoo News • Mar 19, 2024
Still Unable to Post Bond, Trump Has Most Crazed Meltdown YetYahoo News • Mar 19, 2024
Trump laments $464M judgment, sues ABC News and George Stephanopoulos for defamation