Former President Donald Trump said Tuesday that the $454 million bail required to appeal a civil fraud conviction against him could force a fire sale of his real estate.
The prosecution of Trump by New York Attorney General Letitia James essentially seeks to bankrupt the president.Trump must post liquid Trump’s lawyers issued a bond (cash, securities) covering the entire amount of the judgment to suspend enforcement on Monday, but the president told Trump that 30 surety companies would not accept real estate assets as collateral. He announced that he had been notified. Enforcement will begin on March 25th.
If Trump is unable to post $454 million bail, James could seek to freeze some of his bank accounts and assets.
Letitia James (AP Photo/Cathy Willens)
President Trump may have to sell his real estate at a “fire sale price” to get cash to appeal the ruling, he said. Said Tuesday Truth Social:
Judge Engoron is actually asking me to pay him hundreds of millions of dollars for the right to appeal his ridiculous ruling. In other words, he is trying to strip me of my right to appeal even though I have already won the case in the Appellate Division, yet he refuses to accept the decision they have already made.
“No one has ever heard of anything like this before. I will be forced to foreclose on great assets or perhaps sell them at fire sale prices and if I win the appeal, they will be will be let go,” Trump added. “Does that make sense? Witch hunt. Election interference.”
Constitutional law scholar Jonathan Turley believes the financial woes are a form of “collective justice” that could reach the Supreme Court.
His position is that he has to come up with $500 million just to basically appeal, to have another judge look at what I did to you. It’s like a judge saying, “I’m going to take your house away, but you can appeal my decision.” To do that, I have to sell my house. ”…[M]Everyone sees this as a type of mob justice.
And this could exceed New York’s system.They are [Trump’s team] This can be appealed to the Supreme Court. In some cases, the Supreme Court intervenes in state litigation for things like punitive damages, and the damages can be so high as to veto the legal process. In my opinion, this falls into the extreme category. It’s horrifying.
“It shocks my conscience that I would have to spend this kind of money just to have someone see what I believe in, and I believe this is an overreach by this judge,” Turley said. concluded.
Wendell Husebo is a political reporter for Breitbart News and a former Republican war room analyst.he is the author of politics of slave morality.Follow Wendell “X” @WendellHusebø or society of truth @WendellHusebo.
