New York City, NY – Former President Trump claimed to have nearly $500 million in cash, contradicting the statements made by his attorneys regarding his ability to post a $454 million bond for his civil fraud case. Taking to his Truth Social platform, Trump asserted that his cash holdings were accumulated through hard work, talent, and luck, with a significant portion intended for his presidential campaign.
Trump went on to criticize New York Judge Arthur Engoron and New York Attorney General Letitia James, accusing them of intentionally setting the penalty amount based on their knowledge of his available funds. Engoron had ordered Trump to pay penalties totaling nearly $355 million, plus interest, after finding that he conspired to deceive banks and insurers about his net worth in order to receive preferential treatment. Including daily interest of $112,000, the total sum now exceeds $454 million.
With a deadline looming on Monday, the former president must secure a bond or make the full payment. However, his lawyers have suggested that it would be “impossible” for them to obtain the bond. Despite spending extensive time negotiating with insurance companies and approaching 30 different companies, they have been unsuccessful in securing support for the bond. Additionally, Trump is unable to offer property as collateral.
Some critics of Trump have speculated that he may seek funds from foreign sources if he fails to meet the deadline. However, Trump’s lawyer, Alina Habba, declined to comment on such strategies, citing the need to follow rules and regulations.
New York Attorney General Letitia James, who initiated the fraud case against Trump, has stated that if he fails to meet the deadline, she may move forward with seizing some of his assets.
In summary, former President Trump claims to have substantial cash holdings, contradicting his lawyers’ statements concerning his ability to pay the $454 million bond. As the deadline approaches, the question remains whether he will secure the necessary funds or face the potential seizure of his assets by the New York Attorney General.