Former president Donald Trump has recently admitted that he will have to sell off some of his buildings to come up with $450 million in cash. This revelation comes after a ruling in his civil fraud trial, where he was found liable for fraud after exaggerating the value of his properties.
In response to the verdict, Trump filed a more than 1,790-page emergency motion to a New York appeals court, requesting a stay on Judge Arthur Engoron’s ruling. Trump’s attorneys argued that without a stay, properties would need to be sold to raise capital under exigent circumstances, and there would be no way to recover any property sold following a successful appeal.
Interestingly, this admission contradicts a previous boast by Trump himself, where he claimed to have “$400 million liquid” during a deposition for a different trial. Attorney Bradley Moss pointed out that Trump doesn’t actually have the cash he claimed to possess. The New York Attorney General’s office, which brought the civil fraud case against Trump, expects a decision from the appeals court judge by the end of today.
As part of the verdict, Trump has also been prohibited from conducting business in New York for three years and is not allowed to loan money from any banks doing business in the state. This poses a significant challenge for him, as he cannot begin his intended appeal until the damages are paid or an agreed upon bond is secured.
This highlights the financial struggles Trump is currently facing, and it will be interesting to see how he navigates the situation. We will keep you updated on any further developments right here on Fan Reviews News.
