New York Attorney General Letitia James has threatened to seize Trumpâs assets if he doesnât pay the $464 million bond by March 25.
Former President Donald Trump faces a March 25 deadline to pay a $464 million bond to the state of New York in the civil fraud case.
New York Attorney General Letitia James, who brought the case against the former president, has given President Trump until the end of March 25 to pay the almost half-a-billion-dollar bond, which he must submit before he can appeal the judgment against him.
Judge Arthur Engoron in February found President Trump personally liable for $454 million for fraudulently representing his net worth to secure favorable loans.
Ms. James has said that if he fails to pay, she will start taking action to seize his assets.
How Could He Finance It?
President Trump had previously suggested that the bond could force him to hold a âfire saleâ of his properties, but this does not appear to have happened.
âIâll fight this all the way up to the U.S. Supreme Court if necessary,â he said. âThey canât take away your property before youâve had a chance to appeal the decision of a Trump-hating, incompetent judge who has been overturned more than any judge in the state.â
âElection Interferenceâ
President Trump and his allies have characterized this bid to dispossess him of his property as âlawfareâ and âelection interferenceâ intentionally designed to divert resources away from his presidential campaign.
Eric Trump, son of the former president and executive vice president of The Trump Organization, said as much during a March 24 appearance on Fox Newsâ âSunday Morning Futures.â
âMy father has run a great company. I run a great company. Weâve never had a default. Weâve never missed a payment. Weâve never been in a breach of covenant.â
Mr. Trump suggested that the real goal of the proceedings is to hurt President Trumpâs reelection bid.
âThis is lawfare. They want to hurt my father, who is winning the presidential race right now,â Mr. Trump said, citing polls showing that President Trump is beating President Joe Biden in every crucial swing state.
The effect of the massive judgment is âelection interferenceâ that diverts crucial resources away from President Trumpâs campaign, according to Mr. Trump.
If President Trump does indeed have the cash on hand to pay the bond, Ms. James will be unable to take further steps to seize his assets.
Catherine Yang, Jack Phillips, and Andrew Moran contributed to this report.
Original News Source Link – Epoch Times
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