Trump Pleads for Donations as Deadline Looms for Massive Fraud Bond
Former President Donald Trump faces a rapidly approaching deadline to post a massive $454 million bond as part of his appeal against a civil fraud judgment. New York Attorney General Letitia James’ office has informed the state appeals court that Trump’s claims about being unable to raise the bond money should be disregarded.
James could initiate the seizure of Trump’s assets as early as Monday, March 25th, which is the deadline for Trump to secure the required bond amount. Trump’s campaign swiftly responded by calling for donations from one million supporters, warning that he could lose his New York properties, particularly the iconic Trump Tower on Fifth Avenue, where he launched his first presidential campaign in 2015.
“Keep your filthy hands off of Trump Tower!” reads his campaign’s plea to supporters. “Before the day is over, I’m calling on one million pro-Trump patriots to chip in.”
The New York Post reported that Trump may let Monday’s deadline pass, leaving it to James to pursue his assets. Trump’s lawyers had claimed that posting the full $454 million bond was “a practical impossibility” after 30 surety companies refused to provide the bond.
However, the Attorney General’s office expressed skepticism about the timing and nature of Trump’s claim in the letter sent by senior assistant solicitor general Dennis Fan. Trump had testified last year that he had about $400 million in cash, in addition to his properties and other investments.
The $454 million bond requirement stems from a judgment earlier this year by Judge Arthur Engoron, who found that Trump and his company, the Trump Organization, had schemed for years to inflate his wealth on financial statements to secure loans and make deals.
A separate judgment also requires Trump to pay an additional $83.3 million for defaming writer E. Jean Carroll during her civil case alleging sexual assault.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
