Donald Trump's $400 Million Bond Is 'Hanging Over His Head': Attorney

Former President Donald Trump's $400 million bond is "hanging over his head," one of his attorneys, Will Scharf, said on Fox News Radio show The Annie Frey Show.

Last week, New York Judge Arthur Engoron ordered Trump to pay $355 million plus interest and banned him from doing business in New York for three years after he found the former president liable for business fraud. Trump has maintained his innocence, claiming that the case was politically motivated given that he is the GOP frontrunner in the 2024 presidential election.

Engoron's decision comes after New York Attorney General Letitia James filed a lawsuit in September 2022 accusing the former president, his two adult sons, Donald Jr. and Eric, The Trump Organization and two firm executives, Allen Weisselberg and Jeff McConney, of fraudulently overvaluing assets to secure more favorable bank loans and taxation deals. The other defendants in the case have also received financial penalties and are banned from doing business in New York for periods of time.

Scharf talked about the case to host Annie Frey on the conservative midday talk radio show, which was posted to YouTube on Wednesday.

"We're going to appeal that judgment. I think we have very strong grounds for appeal," Scharf said. "The judge in that case, Arthur Engoron...he made so many just awful rulings whether it was on evidentiary issues—excluding evidence, letting evidence in—his legal judgment is just so replete with errors that we're going to have ample grounds for appeal."

He continued: "But in the meantime, President Trump has essentially $400 million just hanging over his head. It's totally unfair, it's not the way the legal system is supposed to be used in this country and it just speaks to the stakes of this presidential election.

"Are we going to allow these lawless leftists to continue running the country into the ground? And I think the answer has to be no and if we don't fight now, I don't think we're gonna get another opportunity."

Newsweek reached out to Trump's campaign via email for comment.

Following Engoron's ruling on Friday, Trump wrote on his social media platform Truth Social: "A Crooked New York State Judge, working with a totally Corrupt Attorney General who ran on the basis of 'I will get Trump,' before knowing anything about me or my company, has just fined me $355 Million based on nothing other than having built a GREAT COMPANY. ELECTION INTERFERENCE. WITCH HUNT."

Meanwhile, New York Attorney General Letitia James called the ruling "a massive victory" on X, formerly Twitter, adding that "No matter how big, how rich, or how powerful you are, no one is above the law. Not even Donald Trump."

In order for Trump to appeal, his defense team will have to post a bond, "which is the full amount and some," Alina Habba, another Trump lawyer, told Fox News's Martha MacCallum on Monday, adding, "We will be prepared to do that."