Dallas Mavericks owner Mark Cuban told Rep. Ted Lieu, D-Calif., on X, why former President Trump may not be able to pay the $464 million judgment bond, despite being a billionaire. (Tim Heitman )
Trump’s filing on Monday said, "ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility.’"
The filing also said efforts were made to include approaching about 30 surety companies through 4 separate brokers.
"A bond requirement of this enormous magnitude – effectively requiring cash reserves approaching $1 billion…is unprecedented for a private company," the filing read.
A New York Appeals Court judge previously ruled that the former president must post a bond for the full amount of the judgment and that an independent director of compliance will be appointed.
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That ruling comes after Engoron handed down his decision earlier in February after a months-long trial beginning in October in which the former president was accused of inflating his assets and committing fraud in financial documents.
Engoron ruled that Trump and other defendants were liable for "persistent and repeated fraud," "falsifying business records," "issuing false financial statements," "conspiracy to falsify false financial statements," "insurance fraud" and "conspiracy to commit insurance fraud."
Greg Norman of Fox News Digital contributed to this report.
Greg Wehner is a breaking news reporter for Fox News Digital.
Story tips and can be sent to Greg.Wehner@Fox.com and on Twitter @GregWehner.
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https://www.foxnews.com/politics/rep-lieu-accuses-trump-lying-about-pay-464m-judgement-mark-cuban-says-wrong