Donald Trump’s second eldest son, Eric Trump, said it's been challenging trying to secure the $464 million bond his father is ordered to pay in his New York fraud case.
The former first son claimed that insurance companies were not taking the matter seriously, RadarOnline.com has learned.
In a recent appearance on Fox News with Maria Bartiromo, Eric said he approached some of the largest sureties in the world, only to be met with disbelief at the sheer magnitude of the required bond.
He emphasized the unprecedented nature of the situation, claiming that bonds of such scale are virtually non-existent in the United States.
“I went after the largest sureties in the world, the largest sureties in the country. They said, ‘Eric, the last time we’ve seen a bond that size is when we did the Big Dig of Boston, which was a $25 billion construction project that lasted almost 25 years!’" he told the Fox News host, "They’re trying to put my father out of business, they’re trying to take all his resources that he’s trying to put into his own campaign for the presidency.”
"Letitia James campaigned on this promise, and now they’re making him do something that’s not physically possible!" Eric told Maria. "Putting up a half-a-billion-dollar bond — bonds that size don’t exist in this country. A $10 million bond is a large bond. A $15 is million bond is an enormous bond. A half-a-billion dollar bond?"
"Maria…this is 'lawfare.' They want to hurt my father, who’s winning the presidential race right now. He’s beating Biden in every single poll in every single swing state. He came out and said he wants to put hundreds of millions of dollars of his own money into his campaign. And, how do they deprive him of that?" he continued. "They have (Judge Arthur Engoron) come up with an astronomical number, give you zero time to post a bond, a bond that’s not even commercially available in the United States."
Donald's attorneys argued in the fraud case filing that a "bond requirement of this enormous magnitude effectively requiring cash reserves approaching $1 billion … is unprecedented for a private company."
James' office responded on Wednesday, March 20, by citing cases that had a larger bond and argued that the bond could be secured through multiple security groups.
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The former president has until Monday to come up with $464 million he was ordered to pay in his New York fraud case or risk having Attorney General James begin seizing the businessman's assets, including bank accounts and properties like Trump Tower.
