Statement from Trump's lawyers

Lawyers for former President Donald Trump are strengthening their contention that obtaining bail on his $464 million civil fraud ruling is impossible, according to a letter sent Thursday to the New York Appellate Division.

Trump lawyer Clifford Robert called New York Attorney General Letitia James's proposal Wednesday that Trump secure a few small bonds or forfeit the property to the court "illogical," "unconstitutional," "impractical" and "unfair."

“Perhaps worst of all, the Attorney General argues that defendants should be forced to dispose of iconic, multi-billion dollar real estate holdings through a 'sale,'” Robert wrote in the letter.

New York AG rejects Trump's 'extraordinary' request to overturn $464 million fraud ruling Rejecting the suggestion that Trump could take the property to court, Robert said the proposal was impractical and "functionally equivalent" to a court-appointed monitor from the Trump Organization.

He argued that James's proposal for Trump to purchase a series of smaller bonds would not solve Trump's current predicament because lenders remain reluctant to offer bonds using both cash and property as collateral.

“As explained in the Defendants' Affirmations, these individual bonds will still require total security in the form of cash or cash equivalents in excess of $557 million, regardless of how many sureties were involved,” the letter states.

Trump faces a Monday deadline to secure bail or pay the full amount of his $464 million civil fraud judgment; If he doesn't meet the deadline, James told ABC News last month that she would ask the court to seize Trump's property.

Author: GEximius