Former President Donald Trump’s lawyers have told a New York appellate court Monday that he can’t post a bond covering the full amount of his $454 million civil fraud judgment while he appeals via The Express.
It has been noted that the former president’s lawyers wrote in a court filing that “obtaining an appeal bond in the full amount” of the judgment “is not possible under the circumstances presented.”
This indicates that Trump’s New York properties could be seized if he fails to pay a financial penalty linked to his New York civil fraud trial. The warning comes from New York Attorney General Letitia James, who presented the case against Trump. She is ready to seize property if Trump cannot produce the money.
Judge Arthur Engoron has ruled that Donald Trump had been lying about his wealth over many years while creating his successful real estate empire. Despite the ruling, Trump has denied any wrongdoing and plans to contest the decision.
Ms James has vowed to ensure Trump covers the full fine, either through cash or assets. Speaking on ABC, she claimed: “If he does not have funds to pay off the judgment, then we will seek judgment enforcement mechanisms in court, and we will ask the judge to seize his assets”.
Well, Trump’s capability to cover his increasing legal fees is becoming uncertain following consecutive defeats in court, including a defamation lawsuit by former columnist E Jean Carroll.
Trump has previously claimed to have readily available cash of around $400 million, but that’s unlikely to cover all the upcoming court payments. The rest of his wealth – potentially running into billions – is tied up in golf courses, towering buildings, other properties, investments, and more.
