Former President Donald Trump is panicking as the deadline approaches to post half a billion dollar bail to file an appeal in his New York civil fraud case, according to multiple sources familiar with the matter.
As a result, Trump’s lawyers acknowledged Monday that he was struggling to find an insurance company willing to cover his $454 million bail.
In particular, Trump was counting on Chubb, which signed his $91.6 million bond to cover E. Jean Carroll’s trial, but the insurance giant informed his lawyers in recent days that that option was off the table.
Trump’s team reached out to wealthy supporters and weighed which assets could be sold — and quickly.
The presumptive Republican presidential nominee has become increasingly concerned about the outlook that the March 25 deadline might present — especially the prospect that he, whose identity has long been tied to wealth, would face a financial crisis.
As Trump and his legal team wait to see whether an appeals court will pause the sentencing while he appeals, or allow him to post a lesser bail of $100 million, he has privately expressed opposition to any bankruptcy path, and This remains the least likely option for now, a person familiar with the conversations according to information from the CNN network.
But his lawyers told the New York Court of Appeals on Monday that he approached 30 insurance companies to support bail, and the former president himself said on Truth Social that he found it “virtually impossible” to pay the amount. Potential insurers are seeking bail money, not property, according to Trump’s lawyers.
The title stems from the Engoron ruling last month, which ordered Trump to pay $355 million in ill-gotten gains in the case brought by James.
