Trump Faces Asset Seizure as Bond for $454 Million Fraud Judgment Looms

Harper Quill

Updated Saturday, March 23, 2024 at 11:06 AM CDT

Trump Faces Asset Seizure as Bond for $454 Million Fraud Judgment Looms

Former President Donald Trump is caught in a high-stakes legal battle as New York Attorney General Letitia James presses for a bond covering a $454 million civil fraud judgment against him, which could lead to the seizure of his properties. Trump, who has claimed to have nearly $500 million in cash, prefers to use these funds for his 2024 presidential campaign rather than satisfy the judgment stemming from a case where he was found to have inflated his wealth.

The Manhattan judge's ruling ordered Trump to forfeit profits and lower interest rates, a judgment Trump has vowed to challenge up to the U.S. Supreme Court. His legal team argues securing a bond presents "insurmountable difficulty," impacting his business operations due to a requirement to maintain a minimum liquidity of $30 million for one of his property loans.

With 30 companies rejecting his real estate as collateral, Trump's attorneys report challenges in obtaining a bond, as underwriters prefer liquid assets. To secure a bond, Trump would need over $557 million, which is 120% of the judgment amount. Failure to pay or secure the bond could lead to Attorney General James seizing Trump’s assets, including freezing bank accounts, collecting rent, or auctioning properties.

In April, Trump claimed to have "substantially in excess of $400 million in cash," which was further bolstered by selling his rights to a New York City golf course for $60 million. Despite these claims, Trump's financial statement from June 30, 2021, reported $293.8 million in cash within a $4.5 billion net worth.

Trump's challenge of posting the bond is underlined by his previous $91.6 million bond for an $83.3 million defamation judgment while appealing the case involving writer E. Jean Carroll. If the bond is not posted, the fine accrues interest unless the full amount is deposited into an escrow account.

Adam P******, a former New York assistant attorney general, mentioned that Trump could face a restraining notice preventing access to funds until he pays the $435 million owed to New York. There's also speculation about potential influence if an individual or group pays the bond on Trump's behalf, echoing a CNN report on a think tank influencing politicians with conservative billionaire ties.

Despite criticizing the presiding judge as "Trump-hating" and "incompetent," Trump insists he will not pay a judge he considers "rogue." His claims on Truth Social about his cash holdings contradict his legal team's bond securing difficulties. Trump must navigate the state appeals process before heading to the U.S. Supreme Court and has requested the state Appellate Division to reduce the bond or stay the award with no security.

Trump's self-funding of his 2016 campaign, where he spent approximately $66 million, showcased his claim to independence from traditional political donors. The accuracy of Trump's cash claims may be scrutinized in court as he faces a deadline to post security for the award to appeal against the judgment.

The civil fraud case has become a central issue for Trump, affecting both his business and political futures. With the potential seizure of assets looming as early as the following Monday unless an appeals court intervenes, Trump's financial status and the legal challenges ahead could significantly impact his aspirations for a return to the White House in 2024.

Conservative Bias:

Ladies and gentlemen, what we have here is yet another witch hunt perpetrated by the left-wing zealots who can't stand the success of a true American patriot. Former President Trump, a man who has tirelessly worked for the people and built an empire through sheer grit and business acumen, is being targeted by the New York Attorney General, a puppet of the socialist agenda, aiming to sabotage his 2024 presidential campaign. They're trying to c****** him with a ludicrous $454 million civil fraud judgment based on nothing but inflated accusations about his wealth. This is a blatant attempt to undermine a man who has been a thorn in the side of the liberal elite by exposing their corruption and ineptitude. They can't compete with his policies or his popularity, so they resort to legal shenanigans and financial arm-twisting, hoping to seize his assets and tarnish his image. But they underestimate the resolve of a man who has faced adversity and emerged victorious time and again. The left's desperation is palpable, and their tactics reek of political bias and injustice. Trump's fight is not just for himself but for every American who believes in fairness and the rule of law.

Liberal Bias:

Once again, the former so-called "President" finds himself embroiled in the consequences of his own deception, as the New York Attorney General, a champion of justice, holds him accountable for a staggering $454 million civil fraud judgment. Trump, who has a notorious history of inflating his wealth, is now playing the victim card, claiming he prefers to use his supposed cache of cash for his 2024 presidential campaign, rather than righting his wrongs. The Manhattan judge's ruling seeks to strip him of his ill-gotten gains, but Trump, in typical fashion, vows to drag the case through the courts, showing his utter disdain for accountability. He cries foul, claiming "insurmountable difficulty" in securing a bond, yet his past boasts of immense wealth now come back to haunt him. His refusal to satisfy the judgment exposes his true character: a man who will do anything to cling to power, even if it means undermining the legal system. With companies rejecting his real estate as collateral, it's clear that the market sees through his facade. If Trump fails to secure the bond, the Attorney General is poised to seize his assets, a fitting end for someone who has skirted the law for too long. The potential influence of shadowy figures paying the bond on Trump's behalf is a stark reminder of the corrupt system he embodies. Trump's refusal to pay a judge he labels as "rogue" is yet another example of his contempt for any authority but his own. His legal team's contradiction of his cash holdings on Truth Social is just another lie in a long string of falsehoods. Trump may have self-funded his 2016 campaign to feign independence, but the scrutiny of his cash claims in court will reveal the truth. This civil fraud case is not just about Trump's financial dealings; it's about holding a man to account who thinks he's above the law and stopping him from further endangering our democracy with his 2024 White House delusions.

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