Last month, former United States President Donald Trump was found to have fraudulently inflated the value of his assets and properties in order to receive more favorable loan and insurance rates. This fraud included his prestigious golf courses, which have played host to some top events in the sport over the years. And as a result, there’s now a chance that Trump could have those golf courses seized by courts.
Following the judgment last month, Donald Trump and his legal team have been trying to obtain a bond to cover the $464 million sum while he appeals the decision. But he and his lawyers admitted a horrible truth this week – he has not been able to obtain such a bond.
“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers said according to Newsweek. “Despite scouring the market, we have been unsuccessful in our efforts to obtain a bond for the Judgment Amount for Defendants for the simple reason that obtaining an appeal bond for $464 million is a practical impossibility under the circumstances presented.”
If Trump is not able to obtain a bond, he would then have to pay the sum personally. In the likely scenario he is unable to pay the $464 million sum himself, there’s a chance that courts could begin seizing his assets that had “fraudulent” and “misleading” values, which includes 10 of his golf courses.
It’s a pretty horrible situation for the former president.
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