Trump’s bond deadline to secure $454 million ends Monday
Donald Trump has been unable to post a bond covering the full amount of a $454 million penalty he owes for a civil fraud judgment while he appeals.
The deadline for the amount to be paid is Monday, March 24.
Last week, lawyers said they were still scrambling to find a bonding company willing to insure the amount, saying more than 30 had already rejected them.
Here is what to know about Trump’s appeal bond and what will happen if he’s unable to pay:
Trump's appeal bond
Trump is appealing a civil fraud verdict from February in which a judge found he lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.
Appealing the verdict, though, does not get him off the hook of proving he can pay the penalty, which is $335 million. Since the verdict was reached, interest has also been accruing, making him owe about $454 million presently.
Trump was ordered to post bond covering the full amount to pause enforcement of the judgment while he appeals, meaning he has until March 25 to either pay up or buy a bond covering the full amount.
RELATED: Donald Trump appeals $454 million judgment in New York civil fraud case
Former U.S. President Donald Trump speaks at the Conservative Political Action Conference (CPAC) at the Hilton Anatole on August 06, 2022 in Dallas, Texas. (Photo by Brandon Bell/Getty Images)
Unable to pay
In order to obtain a bond covering the full amount, Trump would be required to post collateral worth $557 million, his lawyers said, adding that many underwriters are insisting on cash, stocks or other liquid assets instead of real estate as collateral.
In a court filing, his lawyers said obtaining a bond that size is a "practical impossibility under the circumstances presented."
Trump said last week he has almost a half-billion dollars in cash but would rather spend it on his presidential run than on the judgment.
RELATED: What happens if Donald Trump can’t post $454M bond?
What if Trump can’t make bond?
If Trump and his lawyers haven’t secured the bond Monday, New York state Attorney General Letitia James can start taking steps to collect on the $454 million, unless an appeals court intervenes.
James, a Democrat, said last month she was prepared to seek to seize some of Trump’s assets if he can’t pay.
The Trump Organization owns a number of properties worldwide. Here’s a map of the specific properties cited in James’ fraud case as having "fraudulent, misleading values" that could be among the assets targeted by the state of New York if the appeals process does not intervene:
RELATED: Trump properties that could be seized in fraud lawsuit collection
Trump’s payout to Carroll
Meanwhile, Trump posted a similar appeal bond in a separate case in which he was ordered to pay $83 million in defamation damages to writer E. Jean Carroll after being found liable for sexual abuse.
If Trump wins the Carroll appeal, the money will be returned to him. If the appeal process fails, the money will be used in the payout.
That money is in addition to the $5 million a jury earlier awarded Carroll in a related trial last year.
This story was reported from Detroit. FOX News and The Associated Press contributed.