Donald Trump's race against time to pay his $450 million fine
The former president has until Monday March 25, 2024 to pay the fine of nearly half a billion dollars demanded from him by the New York justice system. In mid-February, he was convicted of financial fraud within his real estate empire.
Donald Trump in New York on February 15, 2024. AP - Mary Altaffer
By: RFI Follow
Advertisement
Read more
Donald Trump
is unable to provide New York justice with a guarantee that he will pay $454 million in fines for financial fraud within his real estate empire, following his civil conviction in February, his lawyers admitted Monday .
In a 5,000-page court document posted online Monday by the appeal section of the Supreme Court of the State of New York, for Manhattan (trial court), the defense of the former president of the United States argues that guaranteeing such a sum is “
virtually impossible
”.
“
The amount of the judgment, with interest, exceeds 464 million dollars
(355 million plus 100 million interest for Donald Trump and eight million plus interest for his sons Donald Jr. and Eric)
and very few companies are considering a bond of guarantee
(a judicial bond, Editor’s note)
close to this magnitude
,” the lawyers protest.
Donald Trump's lawyers tried to obtain the money from around thirty companies specializing in bail bonds. But none accepted: the amount is too high or the real estate offered as guarantee is not suitable.
The quest from the partisans
A few days before the deadline, Donald Trump has therefore decided to call for the solidarity of his supporters. This Thursday, he sent them an email asking for money. The Democrats “
think that you are going to abandon me
”, he wrote, seeing behind his conviction, a plot to make him give up the presidential election.
Another potential source of liquidity: Donald Trump's media company, and therefore his social network, will go public next week. He will be able to use his shares - whose value is estimated at more than $3 billion - to obtain a loan or offer them as guarantees to the courts.
If the former president does not pay the fine on Monday, his image as a brilliant businessman would be seriously damaged. The judge who sentenced him could seize his assets and sell them. Trump Tower and a golf course would be in his sights. Unless Donald Trump gets a deadline.
Newsletter
Receive all the international news directly in your inbox
I subscribe
Follow all the international news by downloading the RFI application
Share :
Continue reading on the same themes:
UNITED STATES
Donald Trump