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Will Trump’s $175 Million Bond Deal Actually Hold Up?
The company securing the bond is as shady as Trump
So, while the entire world has been transfixed by Trump’s hush money trial, I’ve been entertained by the sideshow going on with Trump’s bond in his civil fraud case. It’s so Trumpian. Filled with shady characters and suspect accounts.
It all started when Judge Engoron imposed a huge penalty of $454 million for fraud. Trump wanted to appeal the case, but to do so had to post a bond for the $454 million. The problem being that no bank or insurance company in New York was willing to cover the bond.
They’ve all been burned too often by Trump to be willing to do business with him. And posting that bond meant that if Trump lost his appeal and refused to pay the penalty, they would be on the hook for the full amount.
And other than his current legal bills, when has Trump ever been known to pay his bills?
Of course, the banks couldn’t say that. They just said that their company policies were no bonds larger than $100 million.
Trump appealed and got the bond amount reduced to $175 million and lo and behold, found a company that was willing to post the bond. And that is where the fun begins.
