Sat. Jul 20th, 2024

Trump is having trouble getting cash for his bond. And he’s growing frustrated.

By 37ci3 Mar21,2024

That perspective Donald Trump for cannot post bond by Monday deadline $464 million civil fraud penalty A Trump ally and two campaign sources familiar with the situation told NBC News that the outcry against him and his accusers has frustrated the former president and some members of his inner circle.

Trump, a billionaire developer who wants to return to the White House, is finding high-dollar donors in a difficult position not only for campaign money, but also for an urgent political need to see if they will help. According to one Trump ally, receiving such a call from a member of the presumptive GOP nominee’s team warrants his shutdown. The source asked not to be named to speak candidly about sensitive conversations.

New York State Judge Arthur Engoro’s ruling in Trump’s civil fraud trial was officially entered on February 23, starting the clock on an automatic 30-day stay of the judgment. That deadline expires on Monday, when New York Attorney General Letitia James’s appeals court could start seizing Trump’s assets.

Failure to secure the bond by Monday’s deadline could lead to the state catch Trump’s bank accounts or properties — from Trump Tower in midtown Manhattan to his resorts, golf courses or airplane.

In a filing Monday, Trump’s attorneys said it was a “practical impossibility” to secure nearly half a billion dollars in bonds by next week’s deadline, despite their best efforts — including “approaching approximately 30 surety companies through 4 separate brokers.” “.

Their petition to stay Engoro’s order is still before the appeals court, which could intervene on his behalf.

A source close to the Trump family said Trump’s defense team is discussing its options, including ways Trump can appeal the engoro’s judgment without borrowing money and what would happen if they fail to pay the required amount. They also believe that seizing Trump’s assets or liquidating them at “fire sale” prices could be rocket fuel for his campaign, as Trump has warned.

“They want to resort to actual requirements to put up that much money to file a complaint, and then obviously the complaint itself is a violation of the Eighth Amendment,” the source said. “They have to understand all these tricks.”

The Trump campaign did not immediately respond to a request for comment.

The $464 million judgment was filed Monday on behalf of Trump and his co-defendants, including his sons Donald Jr. and Eric Jr., who have run the Trump Organization since their father took office in 2017.

State attorneys have alleged that Trump deliberately exaggerated his wealth in his loan applications. His critics have tried to use the civil fraud case to damage his business image, and they may try to capitalize on the perception that he can’t pay the bond.

Trump took to his social media platform to rage against the judge and James’ handling of the case, attacking the “corrupt communist system” late Monday and then writing Tuesday morning: “I would be forced to foreclose or sell Major Assets, maybe in a Fire Sale.” and if I won the Petition, they’d be gone. Does that make sense? Witch Hunt. ELECTION INTERFERENCE!”

“You can’t refuse to sell Trump Tower at a discounted price,” Trump’s attorney Alina Habba said in an interview with Fox News on Wednesday. “If we win the appeal, we can’t fix it. That is, it is a complete injustice.”

But while Trump’s lawyers and accountants are concerned about the bond issue, his campaign has tended to it as it has in other legal battles. The campaign dropped an “emergency memo” fundraising appeal on Wednesday with the headline “Keep your dirty hands off Trump Tower.”

“Crazy radical Democrat AG Letitia James wants to seize my properties in New York. THIS INCLUDES THE ICONIC TRUMP TOWER!” Trump’s appeal for donations to the joint fundraising committee reads in part.

Some Trump allies say footage of New York state agents attempting to seize his property will only embolden supporters and add weight to their argument that he is being unfairly targeted by the justice system.

Steve Bannon, a longtime Trump adviser, told NBC News on Wednesday that such a move would give the Trump campaign a “massive” boost.

“He’s not that stupid,” Bannon said of the possibility of James issuing a warrant to seize Trump’s assets.

A source close to the Trump family said that for Trump’s advisers, “it’s part of the calculus — whether it continues to help or hurt him in some way. One way it affects the pocket book or the box.

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By 37ci3

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