Donald Trump’s lawyers told a New York appellate court Monday that it’s impossible for him to post a bond covering the full amount of his $454 million civil fraud judgment while he appeals.
The former president’s lawyers wrote in a court filing that “obtaining an appeal bond in the full amount” of the judgment “is not possible under the circumstances presented.”
This means that Trump’s New York properties could be seized if he cannot pay a financial penalty linked to his New York civil fraud trial.
The warning comes from New York Attorney General Letitia James, who presented the case against Trump. She is ready to seize property if Trump cannot produce the money.
Judge Arthur Engoron ruled that Trump had been dishonest about his wealth over many years while creating his successful real estate empire. Despite the ruling, Trump denies any wrong-doing and plans to contest the decision.
Ms James has vowed to ensure Trump covers the full fine, either through cash or assets. Speaking on ABC, she claimed: “If he does not have funds to pay off the judgement, then we will seek judgement enforcement mechanisms in court, and we will ask the judge to seize his assets”.
Trump’s ability to cover his growing legal fees is becoming increasingly uncertain following consecutive defeats in court, including a defamation lawsuit by former columnist E Jean Carroll.
Trump has previously claimed to have readily available cash of around $400 million, but that’s unlikely to cover all the upcoming court payments. The rest of his wealth – potentially running into billions – is tied up in golf courses, towering buildings, other properties, investments, and more.
Whether or not Ms James will rush to seize Trump Tower or Mar-a-Lago remains to be seen. Any appeals from Trump are likely to stall his fine payment while proceedings continue.
