Trump says he has nearly $500 million in cash but doesn't want to use it to pay New York judgment
Donald Trump says he has almost a half-billion dollars in cash but would rather spend it on his presidential run than the $454 million civil fraud judgment against him in New York
NEW YORK — Donald Trump claimed on Friday to have almost a half-billion dollars in cash but said he’d rather spend it on his presidential run than on the $454 million civil fraud judgment against him in New York. The former president vowed to fight the verdict “all the way up to the U.S. Supreme Court if necessary” as the state gears up to potentially seize some of his assets if he doesn't pay the hefty tab.
Trump has been trying to get a state appeals court to excuse him from a requirement that he provide financial guarantees showing he's good for the money while he appeals the staggering verdict.
The presumptive Republican presidential nominee didn’t provide any documentation for his cash claim, and his lawyers have suggested it’s not feasible to tie up so much cash on a bond while also keeping his businesses running and meeting other obligations. Among them, according to financial records: a condition on one of his property loans that he maintain a minimum liquidity of $30 million.
A Manhattan judge in February found that Trump repeatedly lied about his wealth on financial statements given to banks and others to secure loans and make deals. The judge ordered him to give up profits from certain real estate deals and money he saved by obtaining lower interest rates on loans. Trump denies that he tried to deceive anyone.
As recently as Thursday, Trump's lawyers reiterated in court filings that they were having difficulty obtaining a bond covering the judgment because underwriters insisted on cash, stocks or other liquid assets instead of real
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