Trump is having trouble paying his fine because he was charged with fraud in New York for making false claims to get better and bigger loans and credits.
Donald Trump has been told to pay fines of more than $400 million or get a bond to keep his case going. Trump 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. Trump, on the other hand, said that getting a bond that big is “nearly impossible.”
In this situation, a business would have to get a bond and promise to pay it to a court. If Trump couldn’t pay it, or if his appeal was denied, the business would have to. Trump said that no company, not even his own, could follow through on this bond.
“The bonding companies have never heard of such a bond, of this size, before,” he noted.
The people working for Trump 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.
Not only does Donald Trump have to go through this hearing and get a bond, but a judge in New York has also banned him from doing business in the state for three years because he lied on his records to get better loan amounts.
After this, 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.