Donald Trump, the former president, announced on Friday that he had "almost $500 million" in cash. This declaration runs counter to the story that his attorneys previously told, claiming that given a significant judgment in a civil fraud case in New York, it would be almost difficult for Trump to post a bail of over $450 million. The total judgment against Trump is almost $464 million. Trump disclosed in a post on Truth Social in which he highlighted his capacity for wealth. With knowledge of Trump's financial resources, he proposed that Justice Arthur Engoron of the New York Supreme Court determine the bail amount.
He added, "I intended to use a substantial portion of the almost $500 million in cash that I currently possess for my presidential campaign." This statement, which highlights the difficulty in obtaining a bond since 30 underwriters rejected it, deviates sharply from the position his attorneys took earlier this week, according to The Washington Post. The ruling is the result of a lawsuit filed by New York Attorney General Letitia James (D), and it will take effect on March 25 unless there are any financial or legal interventions. It may result in the confiscation of Trump's possessions, such as real estate and bank accounts.
Though there have been hints that declaring bankruptcy may provide an escape, Trump has rejected this option. According to Christopher Kise, Trump's attorney, the phrase alluded to the money he had amassed via profitable business endeavors throughout the globe. Why Trump's Remarks Might Jeopardize His Defense: Kise was quoted by the Post as stating, "What he's talking about is the money (reported on his campaign disclosure forms) that he's built up through years of owning and managing successful businesses around the world." "The Democrats and Letitia James are aiming for that exact amount of money." According to legal experts, Trump's public statement may jeopardize his defense and make his position in the current case more difficult.
Gregory Germain, a Syracuse University law professor, told The Remark that Trump's remark casts doubt on him and his witnesses' reliability, who stated that he lacks the necessary funds. "He feels hurt when he says, 'I have the money, I just don't want to post it,'" Germain said. "It's just really hard to understand why he would take such an action." Furthermore, Trump has a substantial financial deficit over President Joe Biden as shown by his financial declarations for his 2024 presidential campaign.
Despite this, the publication claims that Trump may profit financially from the IPO of his media firm, which might aid in paying for his legal bills. Trump has insisted on his innocence, characterizing the judicial proceedings against him as politically driven assaults brought about by his electoral victories. These claims are still being used by his campaign to raise money.
