Donald Trump is freaking out over his latest financial and legal trouble and he’s begging his MAGA supporters for help.
A New York court has mandated that Trump pay a $464 million fine after he was convicted of civil fraud.
However, Trump caught a break on Monday (March 25) when an appeals court cut the amount of the bond he is required to post by 68%, to $175 million.
He was also given an extra 10 days to cough up the money.
The case, spearheaded by New York Attorney General Letitia James, revealed a complex scheme to undervalue properties to evade tax obligations while overstating assets to secure more advantageous terms from banks and insurers.
Donald Trump, along with his three eldest sons and former executive Allen Weisselberg, engaged in a systematic effort to manipulate financial statements.
This manipulation allegedly inflated the value of assets by hundreds of millions of dollars to project an exaggerated portrayal of Trump’s net worth.
The consequences of these actions are now coming to light following a ruling by Judge Arthur Engoron.
Engoron’s order, handed down in February 2023, demands Trump to pay $355 million plus accrued interest—a sum reflective of the gains deemed improperly acquired through fraudulent activities.
Trump claims he possesses nearly $500 million in cash to settle the fine.
In a fiery statement, characterized by his trademark capital letters, Trump vehemently criticized the judge and the legal process while simultaneously claiming the ruling was meant to bankrupt him so he could not run for president.
“THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT. THE OFTEN OVERTURNED POLITICAL HACK JUDGE ON THE RIGGED AND CORRUPT A.G. CASE, WHERE I HAVE DONE NOTHING WRONG, KNEW THIS, WANTED TO TAKE IT AWAY FROM ME,” The former president wrote on his platform, Truth Social.
Failure to comply with the payment could result in the seizure of high-profile assets, including the iconic Trump Tower.
The ease with which the New York Attorney General’s Office could access Trump’s bank accounts to collect the fine contrasts with the complexity of liquidating physical assets.
While bank assets are straightforward to seize under court orders, appropriating physical properties involves additional legal intricacies.
The Trump camp has contested the claims, pushing back against the allegations by appealing the February ruling.
Now, the deadline of April 4 is looming for Trump to either settle the imposed penalty or secure a bond covering the amount or his assets will be seized.
