AURN News with Ebony McMorris

Bonding Woes: Trump Scrambles As Insurers Shy Away From Massive Judgment Guarantee

Ebony McMorris
March 18, 2024

FILE - Former President Donald Trump sits in the courtroom before the start of closing arguments in his civil business fraud trial at New York Supreme Court, Jan. 11, 2024, in New York. Judge Anil Singh, a New York appellate judge, has refused to halt collection of Trump's $454 million civil fraud penalty while he appeals, rejecting the former president's request that he be allowed to post a bond covering just a fraction of what he owes.(AP Photo/Seth Wenig, Pool, File)

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Donald Trump faces a new hurdle. This time, securing an insurance bond to cover a $464 million judgment in a civil fraud case, and it’s seemingly impossible.

The former president has tried to get 30 different underwriters, but no one is willing to back this bond required at the end of the month. The judgment includes a significant sum against Trump and additional amounts related to his sons Don Jr. and Eric.

Trump’s legal team is now pressuring a New York appeals court for a delay in posting the bond, illustrating how challenging it is to find backing in cash, not property.

Amid the appeals, the real estate mogul’s struggle to meet the bond requirements underscores the financial implications of the case brought by New York Attorney General Letitia James.

This unfolds against the backdrop of his recent $91.6 million bond for the E. Jean Carroll defamation case, as his team wonders how he will get relief.

Click play to listen to the report from AURN White House Correspondent Ebony McMorris. For more news, follow @E_N_McMorris & @aurnonline.

White House Correspondent Ebony McMorris is a native Washingtonian and University of South Carolina alumna. Her passion is mentoring young adults by teaching community empowerment and media education. She is an NAB member and board member of the Thurgood Marshall Center and was presented the President’s Lifetime Achievement Award for contributing more than 4,000 hours of community service under the Obama Administration.