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Former President Donald Trump

Photo: Kamil Krzaczynski / AFP

Donald Trump has always bragged about his wealth.

He presented his wealth as proof of his success as a businessman. But in the multi-million dollar New York fraud trial against the former US President, the limits of Trump's financial strength are now becoming apparent.

His lawyers have told a New York appeals court that it would be impossible for Trump to post a bond covering the full amount of his $454 million fraud verdict while he appeals.

The former president's lawyers wrote in a court filing that "under the circumstances, it is not possible to obtain an appeal bond in the full amount" of the amount stipulated in the verdict.

Trump must either present the sum himself or provide security in order to appeal and prevent New York State from confiscating his property.

Judge Arthur Engoron ruled last month that the ex-president had overstated his assets in order to defraud lenders.

The real estate entrepreneur's total assets are estimated by Forbes magazine at $2.6 billion.

Trump recently stated his cash assets were around $400 million.

Among other penalties, the judge imposed strict restrictions on Trump's company, the Trump Organization, from conducting business.

Including interest, Trump owes $456.8 million in the lawsuit.

Together with his co-defendants, including his company and its executives, $467.3 million.

To get bail, Trump's lawyers said they would have to post $557 million in collateral.

The judge ruled last month that Trump must post full bail to stop the execution of the sentence.

Trump then asked that the verdict be stayed while he appeals.

His lawyers had previously suggested posting $100 million bail, but the appeals judge refused.

A stay is a legal mechanism used to pause collection pending an appeal.

A real estate agent hired by Trump to help secure a bond wrote in an affidavit filed in court that few bail companies would issue a bond of the required amount.

The remaining surety insurers “do not accept any tangible assets such as real estate as security,” but only cash or securities.

Trump filed an appeal on February 26, a few days after the ruling became official.

His lawyers have asked the state court's Appellate Division to decide whether the appeals judge made "errors of law and/or fact" and whether he abused his discretion or "exceeded" his jurisdiction.

Trump was not required to pay his fine or post bail to appeal.

New York Attorney General Letitia James, a Democrat, has said she will seek to seize some of Trump's assets if he is unable to pay.

mfh/AP/Reuters