As the deadline for former President Donald Trump to post a $454 million bond in his New York fraud case approaches, the real estate mogul's precarious financial situation has been laid bare, sending him into a spiral of anger and frustration. The eye-popping judgment against Trump has not only threatened his assets but also struck at the heart of his reputation as a savvy dealmaker and wealthy businessman.
In a series of Truth Social posts, Trump has lashed out at the judge and attorney general in the case, claiming they want to swindle him out of precisely the amount of cash he claims to have on hand. "They do not care about the Law, the facts, or anything, but tying up my money, and interfering in the Election!!" Trump wrote on Wednesday. "This case should be OVER, but instead, the Attorney General wants to abuse her power to steal my money!!"
Former aides have noted that Trump appears to be particularly incensed by the New York fraud trial due to the personal nature of the stakes. The case's core allegations have threatened several areas Trump takes pride in, including his business, family, and brand. "It has to do with his business and his family and his brand," said one former Trump White House official, according to The Hill.
The trial and its aftermath have also enveloped Trump's adult children, with Eric Trump and Donald Trump Jr. ordered to pay more than $4.6 million each and barred from serving in top leadership roles for any New York company for two years. The case also pitted Trump against his former fixer, Michael Cohen, who has become an outspoken critic of the former president.
Trump's anger has spilled into his appeal of the ruling, with the former president suggesting that the judgment amount was determined on purpose due to the cash he claims to have on hand. His campaign has also been transformed into an outlet for his grievances over the case, frequently sending out fundraising emails seeking to capitalize on the situation.
However, Trump's former lawyer, Michael Cohen, has warned that the "real issue" with the bond is not the amount but rather the source of the money, as reported by Newsweek. Cohen expressed concern that if Trump borrows the money from mega billionaire donors or foreign entities, it could place America's national security in jeopardy.
"Because if he borrows the money from one of these mega billionaire donors, he becomes indebted to that individual and that places America's security in danger," Cohen told MSNBC's Reverend Al Sharpton on Saturday evening. "But not even as much as if he takes the money from a foreign entity. Now, all of a sudden, he's indebted to a foreign entity-it could be an ally, it could be an adversary, which again, makes it even worse."
As the Monday deadline looms, New York Attorney General Letitia James has begun taking steps to potentially seize Trump's assets, including filing judgments in the counties where his properties are located. Trump's lawyers have told the appeals court that the former president can't secure a full appeals bond due to lack of cash on hand and have asked the court to accept a $100 million bond instead.
However, Trump's recent claim on Truth Social that he has nearly $500 million in cash on hand could hinder his request for a less costly bond. "He doesn't want to pay, and he's looking for protection from the court," said Bennett Gershman, a law professor at Pace University. "He says he doesn't have the money. He says nobody will give him a bond. That might be true; people wouldn't want to give him a bond because they don't trust him. Why should they trust him?"
