Trump has hours to cover $454 m
Donald Trump faces a Monday deadline to post a bond to cover a $454 million civil fraud judgment or face the risk of New York state seizing some of his marquee properties.
Trump, seeking to regain the presidency this year, must either pay the money out of his own pocket or post a bond while he appeals Justice Arthur Engoron’s Feb. 16 judgment against him for manipulating his net worth and his family real estate company’s property values to dupe lenders and insurers.
On Monday morning, Trump wrote on social media that the number Engoron set was “fraudulent.” “It should be zero, I did nothing wrong!,” he said.
The Trump campaign on Friday called for donations from “one million pro-trump patriots,” saying that the “iconic Trump Tower” was among his properties at risk of seizure.
The case cuts to the core of his public image as a prosperous businessman. Trump rose to fame as a developer of flashy properties like Manhattan’s Trump Tower and often boasts of his financial success - even though his companies have at times struggled.
But Trump, the Republican candidate challenging Democratic President Joe Biden in the Nov. 5 US election, now faces a web of financial worries including campaign fundraising lagging behind his rival.
The judgment in the case was entered in Manhattan, where Trump properties such as Trump
Tower or 40 Wall Street may be in the sights of New York Attorney General Letitia James, a Democrat who brought the civil case in 2022.
James also has notified Westchester County, just north of New York City, of the judgment, a step toward potentially seizing assets there such as a Trump golf course and a 60-room mansion and estate called Seven Springs.
Taking control of Trump’s properties would pose a host of legal and logistical challenges for the attorney general’s office. Placing liens on them to ensure they are not sold or transferred and going after Trump’s liquid assets would be more straightforward.
Trump has denied wrongdoing and called the case politically motivated. The first former US president ever to face criminal charges, Trump has been indicted in four separate cases, pleading not guilty in each.