Will Trump’s failure to obtain $464 million bail in New York fraud case affect his presidential campaign?

Republican presidential candidate and former U.S. President Donald Trump talks to reporters during a visit to a polling place at Londonderry High School in New Hampshire on January 23, 2024. ——AFP

Former US President Donald Trump has hit a roadblock in finding a private company to cover the $464m (£365m) he must pay following a verdict in a New York civil suit over fraud charges. British Broadcasting Corporation the report said.

Trump is tasked with paying the entire fine in cash or posting a bond so he can continue his appeal.

On the final day of the case, Trump’s defense attorney said getting that amount of bond was “practically impossible.”

“We have contacted only a handful of surety companies willing to underwrite a bond of this size, but so far, none have responded positively,” the defendants’ legal team revealed in a court filing.

In addition, Donald Trump Jr. and his eldest son are also defendants in the case with huge debts. Judge Arthur Engoron banned him from participating in any business-related activities in the state, saying he had inflated his assets to secure better loan terms.

Last month, a judge approved a stay of Trump’s business restrictions, but the $300 million bond amount was not reduced to $100 million as required.

Commenting on the novelty of Trump’s case, former federal prosecutor Diana Florence said such harsh penalties were more common for big businesses rather than individuals.

Although Forbes estimates Trump has a net worth of about $2.6 billion and liquid assets of $400 million, the $464 million verdict plus other legal fees have put him in serious financial trouble.

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By Ali Raza

I am a dedicated and skilled News Content Writer with a passion for delivering accurate and engaging stories to a diverse audience. With a solid background in journalism and a keen eye for detail, I bring a commitment to excellence and a deep understanding of the evolving media landscape.

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