545 million are due
Payment due today – will Trump raise the money?
According to his lawyers, former US President Donald Trump is unable to post bail in the amount of the fine of around 464 million dollars (427 million euros) imposed on him for financial fraud. The deadline expires today ...
If Trump does not raise the sum by Monday, New York Attorney General Letitia James may already be able to start seizing the first properties. However, it is questionable whether this will happen. Trump has asked an appeals court to either suspend payment of the fine or to accept a guarantee of payment of just 100 million dollars for the time being.
The deposit of the bail is also a prerequisite for the appeal by Trump's lawyers to be reviewed by the court and the judgment to be suspended until a decision on the appeal is made.
Bail a "practical impossibility"
However, Trump's lawyers have now declared that posting bail in the required amount is a "practical impossibility". This is despite the fact that Trump had claimed on his online platform Truth Social that he had the money.
He and the other defendants had contacted 30 insurance companies, among others, as part of their unsuccessful efforts to raise the sum. However, the insurers had rules that prohibited them from accepting real estate as collateral.
Ex-president: "Witch hunt!"
Trump described the case as a "witch hunt" in a statement on Monday evening. He called the punishment "unconstitutional, un-American, unprecedented and virtually impossible" for "any business, including a business as successful as mine".
Four other criminal charges
Trump, who is expected to run against incumbent Joe Biden in November's presidential election following his victory in the Republican primaries, also faces four criminal charges.
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