Chicago Civil Attorney John Heiderscheidt Comments on Trump’s Bond Predicament
In February, Justice Arthur Engoron ruled against Donald Trump, imposing a penalty of over $350 million due to a year-long scheme to inflate his financial statements. This penalty increased to over $464 million with interest. Trump must post the entire $464 million bond by Monday, March 25.
As for the appeal, Trump has expressed his intention to challenge the judgment. However, under New York law, he must first pay the entire fine or secure a bond. His legal team have stated that despite their efforts, it has been nearly impossible to find a company willing to act as a guarantor for the full sum. Trump claimed to have secured nearly enough funds for collateral, but it remains to be seen whether he can meet the requirements.
This situation has led to speculation about Trump’s financial stability. Much of his fortune remains tied up in real estate and other assets. The outcome of this situation is still uncertain and will likely depend on the decisions of the courts and the success of Trump’s appeal.
As an experienced attorney, John Heiderscheidt says, “It is rare that a litigant in a civil case is required to post this much money to pursue an appeal, but until an appellate court steps in, Trump has few options but compliance.”
