Donald Trump claims not to have funds for the bail required to appeal the 417 million euro fine for fraud | USA Elections

Donald Trump is in serious financial trouble, judging by his inability to deposit the bail of 454 million dollars (417 million euros), a procedure that would allow him to appeal the sanction for this amount that he is condemned to pay for fraud. in their businesses. The lawyers of the Republican candidate for re-election in November confirmed this Monday that 30 companies have rejected his request for funds one week before the deposit expires.

Unable to afford the entire amount alone despite the wealth of his real estate empire, Trump must find liquidity to prevent New York State authorities from confiscating some of his properties while he appeals the decision of Judge Arthur Engoron, who on December 16 February sentenced the tycoon, his two oldest sons and other co-defendants to pay such a penalty for falsifying property values ​​for a decade to deceive lenders and insurers. The initial fine was almost 355 million, which, adding daily interest, has become 454 million dollars.

Trump’s lawyers explained this Monday in the document presented before the judge that they have knocked on the doors of thirty companies through four different intermediaries, and that they have spent “countless hours negotiating” without achieving a single support. The diligence of the former president’s legal team has been unsuccessful as it has been confirmed that it is “practically impossible” to deposit a bond for the full amount demanded. The consequence of this lack of liquidity and guarantees by Trump is clear: if he does not post the bail, he not only will not be able to appeal the sentence, but he must immediately pay the full amount.

The serious setback for the Republican candidate in the November elections is not the only stress test to which his finances are subjected. Earlier this month, Trump posted bail of nearly $92 million, including interest, to appeal the $83.3 million in damages a jury ordered him to pay to writer E. Jean Carroll for defaming her and denying the woman’s sexual assault allegations, for which he was already convicted in a trial held in the spring of 2023.

To do so, he turned to Chubb, an insurance company based in Switzerland, but other terms of the agreement, such as how much money or endorsements Trump provided, were not disclosed. In the event that, finally, one or several financial entities deposited the 454 million dollars in New York, Trump would go into even more debt in the middle of the electoral campaign, with clear signs that his campaign is short of funds (he has about 30 million of dollars, compared to the 155 of his rival, Democrat Joe Biden, who in the last month alone managed to raise about 53). The few critical voices within the Republican Party fear that the Republican National Committee (RNC), whose control the magnate secured at the end of February, will end up paying part of Trump’s hefty debts. Lara Trump, his daughter-in-law, indicated this on the eve of becoming co-president of the RNC. To the debts incurred, the Republican, who leads Biden in several polls, also in the six pivotal states, must add his significant legal expenses.

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