(HorizonPost.com) – Donald Trump claimed last Friday that he had nearly half a billion dollars in cash on hand that he could use to pay the bond in the civil fraud judgment appeal but said he would prefer to spend that cash on his presidential run, the Associated Press reported.
Trump wants the New York appellate court to waive the requirement to post a bond while his $454 million judgment is being appealed.
Just days earlier, Trump’s attorneys informed the court that they were unable to obtain a bond after over 30 underwriters refused to accept anything but cash, stocks, or bonds as collateral.
Trump provided no evidence that he had more than $500 million in cash and his attorneys have suggested that it would not be possible to provide that much cash for the bond while also meeting Trump’s obligations, including the condition on one property loan that requires Trump to maintain $30 million in liquid assets.
Trump’s lawyers have asked the appeals court to reverse the ruling that requires Trump to post the full bond to stop enforcement of the judgment. According to a filing with the appellate court, Trump would likely have to post 120 percent of Judge Arthur Engoron’s judgment, or over $557 million.
In an interview with Fox News last Friday, Trump vowed to take the case to the Supreme Court “if necessary,” arguing that the court could not take his property before he appealed.
Appealing the judgment does not halt collection. Unless the appeals court intervenes or the bond is paid, Attorney General Letitia James could begin to initiate a seizure of Trump’s assets.
In a post on Truth Social last Friday, Trump claimed to have enough cash to cover the fraud judgment but insisted that he would prefer to use that money on his presidential campaign.
It was clear that Trump was not referring to the windfall he received from his social media company going public on Friday, which could net the former president as much as $3.5 billion in shares, CBS News reported.
While the shares could help Trump relieve some of the financial burdens from his multiple criminal trials, that relief won’t be available immediately since shareholders are subjected to a “lock-up” provision preventing them from selling their stock for at least six months.
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