Trump's fraud appeal is worthless unless he finds cash to pay bond: expert

Donald Trump's lawyers filed a "notice of appeal" in the New York fraud trial Monday, but an expert said it isn't worth the paper it is printed on if he doesn't pay the filing fees.

Taking to social media on Monday after the news broke, MSNBC legal analyst and host Katie Phang explained that Trump would need to pay up before his appeal could even begin.

The notice of appeal asks the state appeals court to overturn Judge Arthur Engoron's verdict that Trump exaggerated his wealth and assets to score loans and insurance at a favorable rate. He was hit with $355 million in damages — which is now over $450 million as interest piles up every day.

Phang explained that, first, Trump must submit his filing fees, and then he can file the initial appeal brief. To stop the 30-day deadline to pay, Trump still must post a bond and, if he doesn't, the New York attorney general can begin collecting. AG Letitia James has said she's prepared to seize his assets.

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"To be clear, Trump can appeal all he wants, but if wants to keep his stuff, he better come up with the bond," wrote Phang. "And I have yet to see him post the bond for E. Jean Carroll's second defamation judgment (the $83.3 million dollar one)."

Experts have previously wondered how Trump could find the bond, as Engoron also ruled that he can't do business in New York for three years and no bank that does business in the state can lend to him. Some have suggested that means he might have to rely on a donor, or even a foreign government.

The Associated Press calculated that each day Trump doesn't pay, added interest pushed the amount he owes up by $112,000.

According to Trump's lawyers, Engoron made "errors" in "law and/or fact" in the case.