President Donald Trump is reaching out to his supporters in a desperate plea for financial assistance to cover his mounting legal expenses.
The statement further asserts that Democrats believe their actions will intimidate me and that by cutting off my campaign funds, I will back down. However, what they fail to understand is that we will never surrender!
Mr. Trump, known for his success in luxury property and his subsequent ventures in reality television and politics, has until 25 March to pay the required funds if he intends to challenge the ruling made by Judge Arthur Engoron last month.
Mr. Trump has been ordered by the judge to pay approximately $355 million in fines and an additional $100 million plus in interest for misrepresenting the value of Trump Organization assets from 2011 to 2021. This misrepresentation was done with the intention of securing favorable loans from banks and insurers.
According to recent reports, it has been revealed that Mr. Trump’s lawyers informed an appeals court that their client has not been able to gather the necessary funds to cover the bond. They explained that finding a surety company to assist them in this matter has proven to be extremely challenging.
Despite approaching approximately 30 surety companies through four different brokers, the former president’s attorneys have stated that they have been unable to secure any insurance coverage due to insurmountable difficulties.
According to the attorneys representing the defendants, one of the major challenges they face is the difficulty in finding sureties who are willing and able to provide a bond for such a large sum. Additionally, they have encountered a significant hurdle in finding a surety bond provider who is willing to accept real estate as collateral.
Failing to take action could result in the loss of important properties like Trump Tower in Manhattan, which holds great significance for his brand. New York Attorney General Letitia James has expressed her willingness to seize his assets.
According to sources close to Donald Trump, the former president might choose to take no action to address his financial struggles. The New York Post reported that Trump insiders believe he may opt out of seeking funds from corporations, wealthy acquaintances, or donors, as well as refrain from filing for Chapter 11 bankruptcy. Filing for bankruptcy would not absolve him of debts resulting from fraudulent activities, which could severely damage his reputation as a billionaire businessman and potentially affect his political popularity.
If his legal team fails to secure a pause in the enforcement of the financial portion of the judgement, Ms James will have the opportunity to take charge of his assets once Monday’s deadline passes. This would leave Mr. Trump with the gamble of hoping to recover his assets later through an appeal to the US Supreme Court.
During a recent interview with CNN, Stephanie Grisham, former White House press secretary, was questioned about which of Mr. Trump’s properties he would despise losing the most. In response, she stated, “I believe that if it were to occur, 40 Wall Street is probably the one he would truly detest.”
“I believe that if she were to attempt to take control of Mar-a-Lago, Bedminster, or even Trump Tower, those properties hold such a significant personal value to him that it would be a major blow.”
During an interview with Fox News, Alina Habba, Mr. Trump’s attorney, was asked whether Mr. Trump would consider seeking support from wealthy donors in Russia or Saudi Arabia. Instead of ruling it out, Habba responded by saying that she couldn’t discuss the strategy.
