Former President Donald Trump is facing challenges in finding an insurance company to underwrite his bond to cover the $464 million judgment against him in the New York attorney general’s civil fraud case. Trump’s lawyers have approached 30 underwriters, but very few are willing to consider a bond of that magnitude. The insurance broker, Gary Giulietti, testified that securing a bond in the full amount is practically impossible as underwriters are seeking cash, not properties, to back the bond. Trump’s lawyers have requested the appeals court to delay posting the bond until his appeal is over, citing the value of his properties exceeding the judgment. Trump has expressed his belief that posting the bond is practically impossible and has criticized the size of the bond as unconstitutional and unprecedented. The judgment stems from a civil fraud case where Trump and his co-defendants were found liable for fraudulently inflating the value of his assets. The appellate process could take years to litigate, and Trump has already posted a $91.6 million bond in a separate case.
Trump Struggles to Find Insurance Company for Massive Bond in Fraud Case
