Trump says he could have to sell assets to cover $454 million fraud judgment
investing.comBy Jack Queen
NEW YORK (Reuters) — Donald Trump on Tuesday said on social media that he may be forced to mortgage or sell parts of his real estate business holdings at «fire sale prices» to secure a bond to cover a $454 million civil fraud judgment in New York.
The posts by the Republican challenger to Democratic President Joe Biden came a day after his lawyers told the court that 30 surety companies had rejected his efforts to secure a bond.
«Nobody has ever heard of anything like this before,» the former U.S. president said in a series of posts on his Truth Social platform. «I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices.»
Trump, who was found liable in February for inflating his property values to dupe lenders and insurers, must post a bond or pay out of his own pocket by Monday. If not, the state's attorney general could begin seeking to seize his properties.
Trump's campaign fundraising has been falling behind Biden's in recent months, and he continues having to balance raising money for both his campaign and his legal expenses, which are likely to rise as he faces four upcoming criminal trials.
Trump has denied wrongdoing in all the criminal and civil cases he faces. He has repeatedly described the New York civil case as a political vendetta by Democratic New York state Attorney General Letitia James.
Trump's lawyers and James' office did not immediately respond to requests for comment.
In a court filing on Monday, Trump's lawyers urged a mid-level state appeals court to delay enforcement of the judgment, arguing the amount was excessive. It was unclear when the court, known as the Appellate Division, would rule.
The lawyers asked that Trump instead be allowed to post a $100
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