• Thu. May 30th, 2024

Insurance companies scoffed at the request for a $454 million bond for Trump: Eric Trump.

Byeditor

Mar 25, 2024

Eric Trump claims that insurance companies were not willing to provide a $454 million bond to cover his father’s penalty in a civil fraud case. The former President, Donald Trump, must pay this amount by Monday or risk having his assets seized. Eric Trump expressed frustration at the exorbitant sum and explained that such a large bond is not even available in the United States.

In a statement to Fox News, Eric Trump emphasized the unprecedented nature of the bond and how insurers were laughing at the request due to its enormity. He also mentioned that his father posted on Truth Social last week stating that he has around $500 million in cash but doesn’t intend to give money to what he considers to be an unfair judge.

The former President is currently appealing the civil fraud verdict, which found him liable for $355 million plus interest. Despite attempts to delay the penalty, a judge rejected the motion in February. Donald Trump, who recently secured the Republican nomination for president, believes that the case is politically motivated, a sentiment echoed by Eric Trump.

Eric Trump described the situation as “lawfare” designed to stop Donald Trump from financing his election campaign. He emphasized the rarity of such a large bond in the US, with even a $10 million bond being considered substantial. The Trump family is now facing the challenge of raising a sum that Eric Trump deems “not physically possible.”

By editor

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