The defense found a $464 million bond would require about $557 million cash.
Shortly after New York Attorney General Letitia James filed a letter asking the New York Supreme Court to “not consider“ that the $464 million bond former President Donald Trump needs to post to keep his assets from being seized is a ”practical impossibility,” the court ordered her to remove it.
The letter was attached to a request to file a surreply—a reply to a reply—which generally isn’t done unless the court grants express permission.
In a March 21 letter, the defense argued that, predictably, the letter received widespread media coverage even though it was “improperly filed” and taken down the same day, refiled with only the request and no letter.
“The Court may draw its own conclusions about the propriety of this maneuver. In doing so, the Court is ‘not required to exhibit a naiveté from which ordinary citizens are free,’” the defense wrote, urging the court to deny the attorney general’s request.
In the original letter, Ms. James had asked the court not to accept the testimonies of a Trump attorney and broker who detailed the efforts they’d gone through in trying to obtain a $464 million bond, claiming they were unreliable sources. The defense faulted the state for not providing any “reason to doubt any of their assertions,” however, and only making a blanket statement.
“While attempting to cynically and wrongfully tar the Defendants’ witnesses as ‘unreliable,’ the Attorney General does not actually dispute the truth of a single one of their specific claims,” the defense’s letter reads.
The sworn affidavits submitted revealed that the defense had sought out the large bond since before final judgment was entered—raising the fine from $250 million to more than $350 million during the last days of trial—and that negotiations by four brokers with 30-plus surety companies still resulted in no deal. One of the brokers provided additional context, saying a $100 million bond was considered large and a $464 million bond (which includes the ordered interest) is something few sureties have the ability to issue and would issue only for large publicly traded companies.
