Monday is a crucial date for Donald Trump to avoid the seizure of his properties by the government following his civil fraud trial in New York. As a result of his deception, Judge Arthur Engoron ordered Trump to pay about $454 million in penalties in February. This sum includes interest. A total of $370 million, plus interest, was eventually added to the original $250 million sought in the case by New York Attorney General Letitia James.
With his sons Eric and Donald Jr. named as co-defendants, Trump is requesting a $464 million bail to pay his fines and disgorgement.
The Trump campaign has been looking for wealthy backers and has considered liquidating assets as a matter of urgency. Even the presumed Republican presidential nominee is worried about the optics that the March 25th deadline may bring, particularly the idea that someone whose reputation has always been associated with his fortune would face financial difficulties. Despite Judge Arthur Engoron’s ruling granting New York Attorney General Letitia James a 30-day grace period, Trump has privately persisted in attacking James and Engoron over the topic.
The New York attorney general has threatened to take Trump’s assets unless he determines a bail sum by March 25. He has not yet revealed the payment method or any other potential course of action about that sum. The fact that Trump has several debts secured by his properties totaling at least $200 million makes it less probable that they will be taken to recoup the expenses of his legal fines and may even decrease their value. A former president’s legal team member stated last week that paying the total civil fraud penalty would be “a practical impossibility,” prompting speculation that Trump could have to liquidate part of his real estate enterprise to cover the cost.
The Appellate Division in Manhattan has been Trump’s glimmer of hope. He asked the court to delay the verdict or take a $100 million bail since his attorneys believed the justices there would likely reverse the $454 million punishment handed down by the trial judge after hearing his appeal. Trump has exploited the impending decision to solicit donations for his presidential campaign; he has denied any wrongdoing and accused Democratic New York Attorney General Letitia James and Justice Engoron of orchestrating a witch hunt against him.
