Donald Trump appeals $454 million judgment in New York civil fraud case
NPR Online NewsMar 01
Trump Unable to Obtain $464M Appeal Bond
story
Image copyright: Scott Olson/Staff/Getty Images News via Getty Images
The Facts
Lawyers for former US Pres. Donald Trump in a Monday court filing claimed that after approaching 30 insurance companies he was unable to find a bond underwriter to cover the $464M penalty against him from his New York civil fraud case.
The filing claims Trump would need cash reserves near $1B to meet the bond's "enormous magnitude."
The Spin
Anti-Trump narrative
Trump's in this predicament because he lied about his wealth and success for decades, so it shouldn't be a surprise to him that insurance companies now see him as a loan risk. This is business karma for Trump, who should lose his skyscrapers and golf resorts as a penalty for fraudulent behavior.
Pro-Trump narrative
Even Trump's enemies must admit this was an absurd judgment that resulted from a judge making an unprecedented and arbitrary ruling as part of the political witch hunt against the former president. This judgment, and Trump's struggles to post bond, should be a warning to businesses considering investing in New York.
