Donald Trump Cannot Secure Bond for Fraud Lawsuit

Trump May Sell Real Estate Holdings

Trump Claims He Contacted Nearly 30 Surety Companies

NEW YORK March 18 Reuters - Donald Trump is having difficulty securing a bond to cover a 454 million judgment in a New York civil fraud case. In a legal filing before the New York Court of Appeals on Monday, the former president said he has approached nearly 30 surety companies, but none have been willing to guarantee the bond. As a result, Trump said he may be forced to mortgage or sell parts of his real estate business holdings.

Trump owes the money to four charities after a New York state judge ruled that he had illegally used the Trump Foundation to further his business and political interests. The judgment includes 2 million in penalties. Trump has appealed the ruling, but the appeals court has required him to post a bond to cover the judgment while the appeal is pending.

In a statement on social media Tuesday, Trump said that he may have to sell or mortgage some of his real estate holdings in order to raise the money for the bond. He said that he has already pledged more than 100 million in cash, stocks and bonds, but that he may need to sell more assets if he cannot find a surety company to guarantee the bond.