His numerous court cases are not only costing Donald Trump his image. Now the ex-president's wallet is probably tight. Or is this just an election campaign maneuver?
According to his lawyers, US presidential candidate Donald Trump has not yet been able to provide the required security deposit of over $454 million in the New York fraud trial. The Republican must either present the sum himself or provide security in order to appeal and prevent seizure of his property by the state of New York.
Trump received rejections from 30 bail companies, his lawyers said in a letter to an appeals court on Monday. Many would not provide security over $100 million and would not accept real estate in return. The lawyers asked for a delay or a limit of $100 million.
Lawsuits cost Trump millions
Trump was ordered by a court in mid-February to pay $354.9 million plus interest, which is continually added up. He has had 30 days since February 23rd – until March 25th – to provide the sum or a security deposit. The judge found it proven that the ex-president had overstated his assets in order to defraud lenders. A few days ago, Trump provided a $96.1 million security deposit in connection with the separate libel case involving writer E. Jean Carroll, whom he is alleged to have sexually abused in the 1990s. Trump has repeatedly rejected the allegations in both cases and has announced an appeal.
Forbes magazine estimates the real estate entrepreneur's total assets at $2.6 billion. Trump recently stated his cash assets were around $400 million. He faces several other lawsuits. Critics accuse him of wanting to delay it until after the election at the beginning of November. A Reuters/Ipsos poll in February found a quarter of Republicans and half of independents would not vote for Trump if a jury found him guilty. In polls, he is effectively tied with the Democratic incumbent Joe Biden.
