In New York, Donald Trump is being charged with fraud for making false claims to get better and bigger loans and credits. He is having trouble paying his fine.
The judge told Donald Trump that he had to pay over $400 million in fines or post a bond to keep his case going. Trump only has until the end of the month to figure out how he’s going to do this, or some of his property could be taken away. Don Trump, on the other hand, said that getting a bond that big is “nearly impossible.”
In this case, a business would have to get a bond and promise to pay it to a court. If Trump couldn’t pay it or lost his appeal, the business would have to. Trump has said that this bond can’t be made by any company, not even his own.
“The bonding companies have never heard of such a bond, of this size, before,” said he.
Trump’s team said that he was in talks with many bonding companies and even the world’s biggest insurance company, but these bonding companies said they would not accept such a large bond.
Donald Trump is also being tried in court and has to post a bond. In addition, a judge in New York has banned Trump from doing business in New York for three years because he lied on his records to get better loan amounts.
After that, the business ban was recently lifted by a judge, but Trump’s requests for smaller bond amounts than $100 million have been turned down over and over again.
