Former President Donald Trump took to social media to express his frustration over the $454 million fraud appeal bond he is facing, boldly claiming to have nearly $500 million in cash at his disposal. In an all-caps rant on his Truth Social platform, Trump criticized New York Judge Arthur Engoron and Attorney General Letitia James, accusing them of setting the penalty in that range on purpose, knowing the substantial amount of money he had on hand.
"THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT," Trump wrote. Despite this claim, the former president and his legal team have struggled to secure a bond or pay the $454 million due in the civil fraud case brought against him by Attorney General James.
Judge Engoron ordered Trump, his adult sons Don Jr. and Eric, and the Trump Organization to pay more than $360 million after finding them liable for defrauding banks and insurers. The total sum, with interest, has now reached $454 million, with an additional $112,000 in interest added each day.
Trump's lawyers have indicated that it would be "impossible" for them to secure the bond, despite spending "countless hours" negotiating with one of the largest insurance companies and approaching 30 companies to back the bond. They have also stated that Trump is unable to put up property for collateral as part of the bond.
In a separate late-night rant, Trump focused his anger on Judge Engoron and Attorney General James, calling them corrupt and racist. "THE NEW YORK A.G. USED A STATUTE TO GO AFTER ME THAT HAS NEVER BEEN USED BEFORE, NOT ONCE, FOR SUCH A PURPOSE," he wrote. "IT, IN AND OF ITSELF, IS SOOO UNCONSTITUTIONAL AND UNFAIR ... All DECISIONS AND RIGHTS ARE GIVEN TO, IN THIS CASE, A CORRUPT, TRUMP HATING JUDGE, WHO CAME UP WITH A CRAZY, OUT OF THIN AIR AWARD, IN ORDER TO DAMAGE ME POLITICALLY."
Trump's critics have suggested that the former president might secure the funds from a foreign source if he is unable to secure a bond before the Monday deadline. When asked about these claims during a Fox News interview, Trump's lawyer Alina Habba dodged the question, stating, "Well, there's rules and regulations that are public. I can't speak about strategy; that requires certain things, and we have to follow those rules."
If Trump fails to meet the deadline, Attorney General James has stated that she may seize some of his assets. The former president, however, remains defiant, claiming that he did nothing wrong and that the case against him is "simply a 'taking,' much like what is done in communist countries."
The ongoing legal battle has raised questions about Trump's financial situation and his ability to pay the substantial bond amount. While he claims to have nearly $500 million in cash, his lawyers have painted a different picture, emphasizing the difficulties they have faced in securing a bond.
As the Monday deadline approaches, all eyes are on the former president and his legal team to see how they will navigate this challenge. The outcome of this case could have significant implications for Trump's political future and his campaign for the presidency in 2024.
