Former U.S. President Donald Trump will face heavy consequences if he fails to secure a $464 million bond. He’s currently facing a multimillion-dollar civil fraud judgment, and the deadline to secure a bond is due tomorrow.
Trump’s legal team, alongside the New York Attorney General’s office, is working tirelessly to meet this deadline. The judgment, which was made by Judge Arthur Engoron back in February, holds Trump personally accountable for over $454 million. When you factor in the money owed by his sons, Eric and Donald Jr., as well as the Trump Organization and accrued interest, the figure increases to a staggering $463.9 million.
To provide some context, this civil fraud judgment stems from a ruling made by Judge Arthur Engoron back in February. Trump personally owes over $454 million, and when you include the money owed by his sons, Eric and Donald Jr., as well as the Trump Organization, the total amount balloons up to $463.9 million. This figure also takes into account the interest accrued as of the date of the ruling.
If Trump fails to secure the necessary bonds, legal experts suggest that Attorney General Letitia James and her staff may initiate the complex process of seizing Trump’s assets. And there are quite a few assets at play here, including buildings, houses, cars, helicopters, and even his plane. However, the focus could primarily be on his bank accounts, which are believed to be easier to seize, rather than going after his properties, which pose a greater challenge.
In an effort to avoid this situation, Trump has requested a state appeals court to allow him to post a smaller bond, or even no bond at all. Whether or not this appeal will be granted remains to be seen. But if he does not secure the necessary bonds and his appeal is unsuccessful, the consequences could be significant.
It’s important to note that seizing assets is a complex legal process that requires careful navigation of the legal landscape. It could potentially involve protracted litigation and further legal battles. The outcome of this situation will undoubtedly have a substantial impact on Trump’s financial standing and overall legal battles.
We will continue to keep you updated as developments unfold, on Fan Reviews News.
