New York Attorney General Letitia James’ office has issued a response to former President Donald Trump’s assertion that he faces insurmountable challenges in obtaining the $464 million bond for his civil fraud case.
In a filing to the state appeals court, the attorney general’s office urged the court to disregard Trump’s claim, stating that the defendants had not adequately justified their difficulties in securing the required bond.
Trump’s legal team had recently argued that it was nearly impossible for him to obtain the necessary bond after being rejected by 30 insurance companies.
They cited demands for substantial collateral, such as cash or stock, totaling around half a billion dollars, which Trump allegedly could not provide.
Real estate, they claimed, was also not accepted as collateral by these insurers.
Trump has until Monday to post the bond unless the appeals court agrees to grant his motion to delay fronting the money until after the appeal is heard.
According to the attorney general’s office, Trump should explore alternative options, such as persuading insurance companies to collaborate in underwriting the bond or providing a more detailed account of the obstacles encountered during negotiations.
The filing also criticized the reliability of sworn statements from Trump’s insurance broker, Gary Giulietti, and Alan Garten, the top lawyer at the Trump Organization.
They argued that Giulietti’s testimony during the civil fraud trial was deemed not credible by the judge, and Garten’s involvement raised questions about potential biases due to his stake in the case’s outcome.
Moreover, the attorney general’s office suggested that Trump could have offered his real estate holdings as collateral or consented to have them held by the Supreme Court to satisfy the judgment.
