2024-03-19 13:59:59
Abroad According to Lawyers
Trump cannot raise security deposit of $454 million
As of: 2:59 p.m. | Reading time: 2 minutes
Trump cannot raise security deposit of $454 million
Former President Donald Trump must either provide the required security deposit of $454 million himself or provide security in order to be able to appeal – and prevent the seizure of his property by the state of New York.
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Former President Donald Trump must either provide the required security deposit of $454 million himself or provide security in order to be able to appeal – and prevent the seizure of his property by the state of New York.
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.
Such a large sum could not be raised “under the circumstances,” said a letter from Trump’s lawyers to an appeals court on Monday. Many surety companies 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.
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Trump was ordered by a court in mid-February to pay $354.9 million plus interest, which is continually added up. 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 security deposit of $96.1 million in connection with the separate libel case against the writer E. Jean Carroll, whom he is said 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.
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