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Trump May Be Forced to Sell Assets to Afford $600 Million Lawsuit Cost

Daniel Kim Views  

Appeals against property inflation charges

Yonhap News

Former U.S. President Donald Trump lamented that he might have to sell his assets at a fire sale price to pay an appeal bond amounting to $454 million.

According to Reuters on the 19th (local time), Trump said on the social media platform Truth Social, “No one has ever heard of anything like this,” adding, “I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices.”

In February, Trump was found guilty in Manhattan federal court for inflating the value of his real estate, including his Mar-a-Lago resort in Florida, his penthouse apartment at Trump Tower in Manhattan, various office buildings and golf courses, by about $2 billion, deceiving lending institutions and insurance companies.

The fine imposed on Trump, his eldest son, Donald Jr., and his second son, Eric Trump, is $454 million, and the payment deadline is the 25th.

If Trump wants to appeal, he must deposit bonds or cash as an appeal bond. If he fails to comply, the New York State Attorney General can seize his real estate.

The day before, Trump asked the New York appellate court to temporarily suspend the execution of the fine or reduce the deposit to $100 million because it was difficult to prepare the full deposit amount.

Trump has already deposited bonds worth $91.6 million to appeal a defamation ruling against E. Jean Carroll, a sexual assault victim from 28 years ago.

In addition to this, Trump faces charges of leaking classified documents after leaving office, inciting and encouraging supporters who stormed the Congress on January 6, 2021, in protest of the election results, paying hush money, and forging documents after having sexual encounters with a porn star.

Daniel Kim
content@viewusglobal.com

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