Trump says he has $500 million in cash as lawyers say he can’t post $464M bond
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Former President Trump claimed Friday he has nearly $500 million in cash, conflicting with messaging from his attorneys who claim he won’t be able to post the $454 million bond for his civil fraud case.
“THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT,” Trump wrote on his Truth Social platform.
Trump criticized New York Judge Arthur Engoron and New York Attorney General Letitia James (D), whom he said knew how much money he had on hand and set the penalty in that range on purpose.
Engoron ordered Trump to pay nearly $355 million in penalties plus interest after finding he conspired to lie about his net worth to receive favorable treatment from banks and insurers. The total sum is now worth more than $454 million, with $112,000 in interest added each day.
The former president faces a Monday deadline to secure a bond or pay the $454 million due in the case. Earlier this week, his lawyers indicated it would be “impossible” for them to secure the bond.
His attorneys claim they’ve spent “countless hours” negotiating with one of the largest insurance companies and have approached 30 companies to back the bond, but to no avail. His lawyers said Trump is also unable to put up property for collateral as part of the bond.
Trump’s critics have suggested the former president might secure the funds from a foreign source if he’s unable to secure a bond before Monday.
His lawyer Alina Habba responded to those claims Wednesday.
“Well, there’s rules and regulations that are public. I can’t speak about strategy; that requires certain things, and we have to follow those rules,” she told Fox News’s Martha MacCallum.
If Trump fails to meet the deadline, James, who brought forth the fraud case against Trump, said she may seize some of his assets.
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