Former President Donald Trump said this week that the nearly half a billion dollar bond required by New York State related to civil judgments against him could cause him to have to sell his properties in a “fire sale.” The former president’s statement came as he sharply criticized the judge who ruled over one of the cases, as well as New York Attorney General Tish James (D).
Trump wrote on Truth Social that Judge Arthur Engoron “actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision. In other words, he is trying to take my Appellate Rights away from me when I have already won at the Appellate Division, but he refuses to accept their already made decision.”
Judge Engoron actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision. In other words, he is trying to take my Appellate Rights away from me when I have already won at the Appellate Division, but he refuses to accept their…
— Donald J. Trump Posts From His Truth Social (@TrumpDailyPosts) March 19, 2024
“Nobody has ever heard of anything like this before. I 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?” wrote Trump.
“WITCH HUNT. ELECTION INTERFERENCE!” he wrote.
Trump’s statement came as he was ordered to cover a $454 million bond related to defamation and fraud cases against him.
James has previously stated that if Trump could not come up with the money the state would seize his assets.
Trump’s legal team wrote to the court that it was an “impossibility” to gather the funds needed to cover the bond.
Earlier this week the former president’s legal team wrote that “ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility.’”
“These diligent efforts have included approaching about 30 surety companies through 4 separate brokers,” wrote Trump’s legal team. “A bond requirement of this enormous magnitude – effectively requiring cash reserves approaching $1 billion … is unprecedented for a private company.”
The former president’s attorneys also wrote that the case against him “involves no actual victims and no award of restitution, and she is fully protected by Defendants’ real-estate holdings. This factor alone warrants a stay.”
The request also seeks a stay in the judgment during the appeal.
