Former U.S. President Donald Trump is facing a dilemma as he claims to have nearly half a billion dollars in cash, yet his lawyers argue that he doesn’t have enough money to post a bond for his $464 million civil fraud appeal. This apparent contradiction comes as New York Attorney General Letitia James is on the verge of starting to collect on the massive judgment if Trump fails to secure the necessary appeal bond. Trump’s claims of having the cash to pay the bond but choosing to save it for his campaign for president are not aligned with his lawyers’ arguments to the appeals court judges.
In a bold statement on social media, Trump declared that he currently has close to $500 million in cash, much of which he planned to use for his presidential campaign. This assertion contradicts his past behavior of not contributing any personal funds to his previous campaigns. The legal battle intensifies as Trump’s lawyers maintain that it is impossible for him to secure a bond due to a lack of cash and the unwillingness of potential insurers to accept his real estate as collateral. With James threatening to seize Trump’s real estate assets if he fails to pay, the pressure is mounting on the former president to find a solution to avoid further legal action.
Trump’s legal team has requested a pause on the judgment without the requirement of posting a bond for the full amount, suggesting that putting up his properties as collateral is the only viable option. Despite reaching out to over 30 bond insurance companies, all have declined to underwrite the bond, leaving Trump and his co-defendants in a precarious position. As the situation unfolds, Trump’s financial resources and legal strategies are under increased scrutiny, with the outcome of his appeal hanging in the balance.
