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Politics: Trump Team Struggles Amid Civil Case Bond Woes

POLITICS: Trump Team Struggles Amid Civil Case Bond Woes

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(RightWing.org) – Former president Donald Trump is facing deepening legal problems as New York continues to insist he post a massive bond. The state wants him to guarantee almost half a billion dollars — and he says he can’t find the money. He also says the size of the fine is unprecedented and politically motivated.

In February, a New York court found Trump guilty of falsifying business records and fined him almost $355 million; with interest, the bill is now $464 million. Trump is appealing the fine, but the state wants him to post a bond to guarantee that he can pay it if he loses his appeal. The problem is, he’s struggling to raise the funds.

Trump’s attorneys say they’ve spoken to 30 bond issuers, and none of them are willing to back a bond of that size. They added that the “enormous magnitude” of the bond is “unprecedented for a private company,” and pointed out that courts usually waive, or at least drastically reduce, the amount that has to be posted as a bond. In Trump’s case that isn’t happening; his legal team says that’s making it “a practical impossibility” to come up with the money.

If Trump can’t post a bond by the deadline, which is March 25, New York Attorney General Letitia James could either freeze Trump Organization accounts or seize property. Trump’s attorneys argue that if he’s forced to sell property in a rush at “fire sale” prices, that will do him irreparable harm.

Trump himself has lashed out furiously at AG James and the court. In a series of posts on his Truth Social platform, he pointed out that if he has to sell assets to post the bond, then wins the appeal, his assets will still be gone. Then he blasted the case as a “WITCH HUNT. ELECTION INTERFERENCE!” Unfortunately, it’s a witch hunt that could continue for years.

Copyright 2024, RightWing.org



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