Donald Trump is lucky. It will avoid losing your property
Donald Trump, former president of the United States, was to pay $454 million by March 25. bail bonds. However, the court set a lower bail.
The decision regarding the allegations that Trump and his company overstated their real assets – in this way, the former president wanted to obtain more favorable insurance conditions and higher loans.
In February 2023, the district court sentenced the self-proclaimed billionaire and his company – a fine of $354.9 million was ordered. The politician appealed against this decision. However, by March 25, he was to pay a sum of USD 454 million (over PLN 1.8 billion) in bail – this amount included interest. If he did this, then the enforcement of the property would be waived until the appeal was considered.
Trump could even lose his famous 202-meter skyscraper
On Friday, on his Truth Social platform, the politician announced that he had an even higher amount of $500 million – which he had “in cash”. However, on Monday, Trump's defenders said that in fact the 45th US president does not have that much money.
If Trump did not pay the awarded amount, enforcement would be initiated. Perhaps the self-proclaimed billionaire's real estate would then be seized, such as the famous 202-meter Trump Tower skyscraper. Since the politician did not have the required amount, he could still arrange bail in the amount of over $450 million. from companies, but none of them wanted to give him the money that would be secured by the real estate he owned. Trump's brokers asked a total of 30 insurance institutions whether they would agree to issue a guarantee, but all of them responded negatively.
USD 175 billion deposit. The former US president is only 10 days old
Ultimately, however, the appeals court decided that Trump should pay bail in the amount of much less, i.e. $175 million, according to CNN. He only has 10 days to do so. It is worth adding that Trump's lawyers requested a smaller amount – $100 million. If he does not pay the money this time, his properties will certainly be taken over, including: (apart from the mentioned Trump Tower): the Seven Springs residence or the golf course.
On Social Truth, Trump said he would “abide by the appellate division's decision.” “We will pay the deposit – we will hand over securities or cash,” he wrote. He also stated that it shows “how absurd and outrageous the original (…) – regarding $450 million” was. “I did nothing wrong, and New York should not find itself in this situation again,” said the Republican candidate in the upcoming US presidential elections.
