June 13, 2024

Former President Donald Trump Struggles to Secure $454 Million Bond in Civil Fraud Case

1 min read
Insurance companies scoffed at the request for a $454 million bond for Trump: Eric Trump.

Eric Trump claims that his father, former President Donald Trump, was not able to obtain a $454 million bond from insurance companies to cover the penalty in his civil fraud case. The former President must pay this amount by Monday or risk having his assets seized.

In an interview with Fox News, Eric Trump expressed his frustration with the exorbitant sum and explained how such a large bond is not even available in the United States. He also stated that his father had posted on Truth Social last week stating that he has around $500 million in cash but does not intend to give money to what he considers an unfair judge.

The civil fraud verdict found the former President liable for $355 million plus interest, and despite attempts to delay the penalty, a judge rejected the motion in February. Donald Trump, who recently secured the Republican nomination for president, believes that the case is politically motivated, a sentiment echoed by Eric Trump.

Eric Trump described the situation as “lawfare” designed to stop Donald Trump from financing his election campaign. He emphasized how rare it is for such a large bond to be issued in the US, with even a $10 million bond being considered substantial. The Trump family is now facing the challenge of raising a sum that Eric Trump deems physically impossible.

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