(AmericanProsperity.com) – Donald Trump, who has been charged with fraud in New York over fake statements he made in order to gain more advanced and hefty credits and loans, is having trouble finding funds to pay his fine.
Donald Trump has been ordered to pay over four hundred million dollars in fines or continue his appeal by securing a bond. Trump has until the end of the month to find out how he’s going to provide this or he faces some of his real estate being seized as a result. However, Donald Trump said that getting a bond that large is “nearly impossible.”
In this case, a company would need to secure a bond and they would need to guarantee it to a court, and if Trump couldn’t pay it, or if he loses his appeal, then the company would need to. Trump has said that this bond is impossible for any company to do, even his own companies.
“The bonding companies have never heard of such a bond, of this size, before,” he said.
The team working with Trump has said that he was negotiating with many bonding companies and even the largest insurance company in the world, but it concluded that these bonding companies just won’t accept a bond of that magnitude.
On top of this trial and the bond that Donald Trump must acquire, the judge in New York has also banned Trump from doing any business in New York for three years following the findings of his falsifying records to get better loan amounts.
Following this, the business ban was lifted by a judge recently but Trump’s appeal for a lower bond amount of $100m has continually been denied.
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