Trump Struggles to Secure Funds For Presidential Election Campaign

Contacted 30 guarantee companies, failed to secure a mortgage
The New York Prosecutors plan to seize the building at 40 Wall Street
Presidential campaign funds run dry on legal cost risks

Former President Donald Trump is facing billions of dollars in fines for alleged asset inflation but cannot secure a deposit for an appeal. He is having trouble using real estate collateral for the deposit, and the overall election campaign is in jeopardy due to a lack of funds.

According to the Financial Times (FT) on September 18th, Trump’s lawyers tried to secure $450 million for the appeal deposit by contacting some of the world’s leading insurance companies. However, they faced difficulties raising funds as none of the 30 companies they negotiated with, including Allianz and Berkshire Hathaway, were willing to lend a large amount of money using volatile real estate assets as collateral. The lawyers used four brokerage firms to carry out the negotiations.

Trump was previously fined in the first trial earlier this year after being found guilty of inflating assets in Florida Mar-a-Lago and Wall Street, New York, to obtain fraudulent loans. If Trump fails to pay the deposit for the appeal by the 25th of this month, the prosecutor who charged Trump will be able to access Trump’s assets.

New York Attorney General James Letitia has mentioned the Trump Building at 40 Wall Street, indicating that he will seize assets. Attorney General Letitia said, “This verdict should be attributed to the residents of New York,” and “I am seeing 40 Wall Street every day.”

Trump testified in court late last year that he has about $400 million in cash. However, his company is private, so the exact financial status is unclear. According to Deutsche Bank loan documents for the Trump Organization submitted by Trump’s lawyers on the day, the Trump Organization’s net and liquid assets were significantly downgraded.

There are predictions that Trump may struggle to secure election funds until November. So far, he has covered legal costs with political donations from his ardent supporters, the MAGA (Make America Great Again), but this is also reaching its limit. The New York Times (NYT) evaluates that the funds of the Save America PAC, a political fundraising group that paid for Trump’s lawsuit costs, could run out this summer.