China News Service, March 19 (Xinhua) -- According to comprehensive foreign media reports, former U.S. President Trump's lawyers submitted documents to a New York court on the 18th local time stating that Trump was unable to obtain a civil commercial fraud case of US$454 million during his appeal. Guarantee for case decision.
Data map: Former US President Trump.
According to reports, Trump said it had contacted about 30 guarantee companies through four different brokers and spent "countless hours negotiating with one of the largest insurance companies in the world."
"Defendants' continued efforts have demonstrated that a full bond is 'practically impossible,'" an affidavit cited by the attorneys in a filing with the Appellate Division of Manhattan Supreme Court reads.
If the Appellate Division considers denying the request for a stay of execution, it should schedule oral arguments on the issue, attorneys said.
If the request is denied, they should be allowed to appeal to the Court of Appeals, the state's final court of appeal.
Previous reports stated that New York State Attorney General Lexia James sued Trump, the Trump Organization and other defendants in 2022, accusing them of inflating the value of Trump's properties to increase net worth and obtain better loan and insurance terms.
On February 16, 2024, New York State Judge Ngoro ruled that Trump was guilty of financial fraud and must pay a fine of US$355 million and related interest.
Trump and his related institutions and companies are not allowed to apply for loans from financial institutions registered in New York State for three years, and Trump himself is not allowed to serve as an executive or director of any company in New York State for the next three years.
According to the final judgment announced by the judge, Trump must pay a total of at least US$454 million (including a fine of US$355 million and interest of nearly US$100 million).
On February 28, Judge Singer of the U.S. Court of Appeals in New York ruled to reject Trump’s request to suspend the payment of fines during the appeal of the fraud case, which means that Trump must pay a huge fine of approximately US$454 million.
Lexia James has previously said she is ready to seize Trump's assets if he cannot lock up cash to pay compensation.