"I have almost $500M in cash" Donald Trump says, contradicting his legal team's stance
In a surprising twist to the ongoing legal saga, former President Donald Trump has publicly asserted that he possesses the liquidity to cover a $464 million bond, a statement that starkly contrasts with the narrative presented by his legal team.
This bond is a crucial element of Trump's appeal in the civil fraud lawsuit initiated by New York Attorney General Letitia James, which accuses the Trump Organization of inflating asset values for better loan and insurance terms.
Trump's proclamation of financial adequacy came via a post on social media, where he claimed,
"I currently have almost five hundred million dollars in cash," suggesting that he could easily meet the bond requirement.
This assertion flies in the face of his legal team's previous statements, which described securing the bond as a "practical impossibility" due to a lack of liquid assets.
The legal team's stance has been that despite reaching out to over 30 underwriters, they have been unable to secure the bond.
They even hinted at the possibility of a "fire sale" of properties to raise the necessary funds, which could lead to significant financial losses.
Trump's claim of available cash raises questions about his financial transparency and the strategic communication of his wealth.
If Trump's assertion holds true, it could mean that his wealth is not as tied up in real estate as previously suggested, potentially easing the process of posting the bond.
Should Trump fail to secure the bond, the New York Attorney General's office has indicated a readiness to pursue the seizure of Trump's assets, including bank accounts and real estate holdings.
The judgment against Trump, which arose from allegations of fraudulent practices, amounts to over $454 million.
The former president has accused Judge Arthur Engoron and AG Letitia James of a politically motivated attack, aimed at draining his resources and undermining his presidential campaign.
With the 2024 presidential campaign underway, Trump's ability to self-fund his campaign could be a critical factor, especially given his current cash disadvantage compared to President Biden's campaign.
