{"id":25136,"date":"2024-03-22T04:30:22","date_gmt":"2024-03-22T09:30:22","guid":{"rendered":"https:\/\/ustower.net\/?p=25136"},"modified":"2024-03-22T04:30:27","modified_gmt":"2024-03-22T09:30:27","slug":"trump-is-having-trouble-getting-cash-for-his-bond-and-hes-growing-frustrated","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=25136","title":{"rendered":"Trump is having trouble getting cash for his bond. And he’s growing frustrated."},"content":{"rendered":"\n

The prospect that Donald Trump<\/a> may fail to post a bond by Monday\u2019s deadline for the $464 million civil fraud penalty<\/a> against him and his co-defendants has frustrated the former president and some members of his inner circle, a Trump ally and two campaign sources familiar with the situation told NBC News.<\/p>\n\n\n\n

Trump, the billionaire developer who is seeking a return to the White House, finds himself in the unenviable position of hitting up high-dollar donors not just for campaign cash \u2014 for which he has an urgent political need \u2014 but also to see whether they might guarantee his bond, according to a Trump ally who received such a call from a member of the presumptive GOP nominee’s team. The source asked not to be named to speak candidly about sensitive conversations.<\/p>\n\n\n\n

New York state Judge Arthur Engoron’s ruling in Trump’s civil fraud trial was made official Feb. 23, starting the clock on a 30-day automatic stay of the judgment. That period is set to expire Monday, at which point New York Attorney General Letitia James could start seizing Trump\u2019s assets unless an appeals court steps in.<\/p>\n\n\n\n

Failure to secure a bond by Monday\u2019s deadline could lead the state to seize<\/a> Trump\u2019s bank accounts or properties \u2014 from Trump Tower in midtown Manhattan to his resorts, golf courses or plane.<\/p>\n\n\n\n

In a filing Monday, Trump\u2019s attorneys said securing a bond for nearly a half a billion dollars by next week\u2019s deadline was \u201ca practical impossibility,\u201d despite their best efforts \u2014 including \u201capproaching about 30 surety companies through 4 separate brokers.\u201d<\/p>\n\n\n\n

Their petition to pause enforcement of Engoron’s judgment is still pending before an appellate court, which could intervene on his behalf.<\/p>\n\n\n\n

A source close to the Trump family said Trump\u2019s defense team is gaming out its options, including ways Trump could appeal Engoron’s ruling without having to put the bond up and what would happen if they can\u2019t secure the required sum. There\u2019s also the belief that seizing Trump\u2019s assets or liquidating them at “fire sale” prices, as Trump has warned, could prove to be rocket fuel for his campaign.<\/p>\n\n\n\n

\u201cThey\u2019re looking to appeal the actual requirements to have to put up this amount of money to appeal and then, obviously, the appeal itself on grounds it\u2019s a violation of the Eighth Amendment,\u201d the source said. \u201cThey have to figure all those machinations out.\u201d<\/p>\n\n\n\n

The Trump campaign didn\u2019t immediately respond to a request for comment.<\/p>\n\n\n\n

Monday\u2019s filing seeking to pause execution of the $464 million judgment was filed on behalf of Trump and his co-defendants, including his sons Donald Jr. and Eric, who have been running the Trump Organization since their father took office in 2017.<\/p>\n\n\n\n

State attorneys have argued that Trump intentionally overstated his wealth on loan applications. His critics have tried to use the civil fraud case to undermine his business image, and they may seek to capitalize on the notion that he can’t afford to pay the bond.<\/p>\n\n\n\n

Trump has raged against the judge\u2019s and James\u2019 handling of the case on his social media platform, attacking a \u201ccorrupt Communist system\u201d late Monday and then writing Tuesday morning: \u201cI would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!”<\/p>\n\n\n\n

\u201cYou can\u2019t reverse selling off Trump Tower on a fire sale at a discounted price,\u201d Trump attorney Alina Habba said in a Fox News interview Wednesday. \u201cWe can\u2019t fix that if we win on an appeal. So it\u2019s complete injustice.\u201d<\/p>\n\n\n\n

But while Trump\u2019s attorneys and accountants may be fretting over the bond issue, his campaign has leaned into it, as it has with his other legal battles. The campaign fired off an \u201cemergency memo\u201d fundraising appeal Wednesday with the heading \u201cKeep your filthy hands off of Trump Tower.\u201d<\/p>\n\n\n\n

\u201cInsane radical Democrat AG Letitia James wants to SEIZE my properties in New York. THIS INCLUDES THE ICONIC TRUMP TOWER!\u201d the call for donations to the Trump joint fundraising committee reads in part.<\/p>\n\n\n\n

Some of Trump’s allies believe the images of agents of the state of New York attempting to seize his properties would only further galvanize supporters and lend weight to their argument that he\u2019s being unfairly targeted by the justice system.<\/p>\n\n\n\n

Such a move would provide a \u201cmassive\u201d boost to the Trump campaign, longtime Trump adviser Steve Bannon told NBC News on Wednesday.<\/p>\n\n\n\n

\u201cShe\u2019s not that dumb,\u201d Bannon said of the possibility that James would authorize seizing Trump’s assets.<\/p>\n\n\n\n

The source close to the Trump family said that for Trump\u2019s advisers, \u201cthat is part of the calculation \u2014 whether this continues to help or if, in some way, it hurts him. The one way is if it affects the pocketbook or the case.\u201d<\/p>\n\n\n\n

Nbcnews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The prospect that Donald Trump may fail to post a bond by Monday\u2019s deadline for the $464 million civil fraud penalty against him and his co-defendants has frustrated the former president and some members of his inner circle, a Trump ally and two campaign sources familiar with the situation told NBC News. Trump, the billionaire developer who is seeking […]<\/p>\n","protected":false},"author":5,"featured_media":25137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[24758,27317,27315,27316,23043,1230],"class_list":["post-25136","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-assets","tag-bond-cash","tag-civil-fraud-fines","tag-hardship","tag-seizures","tag-trump"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25136","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25136"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25136\/revisions"}],"predecessor-version":[{"id":25138,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25136\/revisions\/25138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/25137"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25136"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25136"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25136"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}