As the date to submit a whopping $464 million bond is due next week, former president Donald Trump castigated the judge’s decision and expressed what it would take for him to pay such a hefty amount in his financial fraud case in New York.
Donald Trump — who was criminally indicted four times — wrote on his Truth Social platform: “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,”
He added: “Nobody has ever heard of anything like this before.”
The remarks come just a day after the legal team of the 77-year-old told the court that the business mogul could not secure the bond in full amount. They failed to find an approved company that could write such a bond.
“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? WITCH HUNT. ELECTION INTERFERENCE!” Trump wrote Tuesday.
Lawyers of the former president wrote: “While it is my understanding that the Trump Organisation is in a strong liquidity position, it does not have $1 billion in cash or cash equivalents.”
They noted: “As a result, for a company such as The Trump Organisation, which has most of its assets invested in real estate, obtaining a bond for $464 million is a practical impossibility.”
Trump has a chance to appeal the decision but it would only move forward once he submits the bond.
New York Judge Arthur Engoron ordered Trump last month to pay around $355 million in the civil fraud case, shaking the businessman’s business edifice.
