Trump claims to have almost $500 million in cash as deadline looms for NY civil fraud judgment bond
Donald Trump’s Financial Battle: A Closer Look
Former President Donald Trump made headlines on Friday as he revealed having nearly $500 million in cash on hand just before the looming Monday deadline to post bond for the $454 million judgment against him in the New York civil business fraud case.
“Through hard work, talent, and luck, I have amassed almost $500 million in cash,” Trump shared on his social media platform, Truth Social.
Trump’s legal team sought a stay on the significant civil fraud judgment, deeming posting the bond as “practically impossible.” However, a New York appeals court rejected the request, compelling Trump to meet the bond deadline set by Judge Arthur Engoron.
Trump’s Defiant Stance
Unyielding in his claims of innocence, Trump expressed his discontent with the judicial proceedings, labeling it as politically motivated. He lamented the judgment, attributing it to what he perceived as biased actions aiming to hinder his potential 2024 presidential campaign.
“The often overturned political hack judge… knew this, wanted to take it away from me,” Trump stated, emphasizing his belief in facing unjust legal actions.
“No trial, no jury, no crime, no victim, only a crooked judge… Election interference at a level never seen before!!!”
Legal Battles Unfold
Judge Engoron sided with New York Democratic Attorney General Letitia James in the civil charges against Trump, leading to the $454 million judgment. The legal saga escalated as Trump criticized Engoron’s decisions, hinting at the potential repercussions on his property holdings.
Despite attempts by Trump’s legal team to secure a bond through various channels, including surety companies, the financial burden remains substantial and unprecedented.
“A bond requirement of this enormous magnitude… is unprecedented for a private company,” Trump’s attorneys noted in a legal filing.
The unfolding financial and legal tussle surrounding Trump’s wealth and legal obligations continues to captivate the public eye, underscoring the intersection of politics, law, and personal fortunes.
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