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Donald Trump said in a lengthy social media rant that he may need to sell his assets to postpone the execution of a $464 million fraud sentence, after his lawyers said they could not find a company to help him secure massive bail.
In nearly a dozen posts on Truth Social, Trump lashed out Monday night into Tuesday morning at Judge Arthur Engoron and New York Attorney General Letitia James, criticizing those who brought forward the case that threatens his empire economic.
“No one has ever heard anything like this before,” Trump wrote in a post. “I would be forced to mortgage or sell large assets, perhaps at fire-sale prices, and if and when I won the appeal, they would disappear. Does this make sense? WITCH HUNT. ELECTION INTERFERENCE!”
Trump said that a bond of this magnitude is “virtually impossible for ANY company, including one as successful as mine,” and that the “Witch Hunt” against him was an attempt to prevent him from regaining the White House.
He also said the verdict would hurt New York’s economy, writing: “Existing businesses will flee!!!”
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The former president and his companies were found responsible in January for committing “blatant” fraud by vastly inflating the value of key real estate assets such as Mar-a-Lago, Trump’s Florida residence, and 40 Wall Street in claims of loan. The judgment, which is more than $464 million including interest, can be collected by New York’s attorney general unless Trump posts bond for the full amount while he appeals.
Trump’s legal team said Monday that the Trump Organization approached 30 surety companies – including Allianz, Axa, Berkshire Hathaway, Chubb, Monaco Re, Swiss Re and Zurich – through four separate brokers, to no avail.
The ruling, one of the largest fines imposed on a New York company, has ballooned the former president’s legal bills, which he is struggling to cover as he mounts a campaign for president in November’s election.
While Trump asked for an extension, James hinted at seizing his assets, specifically citing 40 Wall Street, a tower Trump called a crown jewel of his real estate empire.
Additional reporting by Joe Miller and Joshua Chaffin in New York