Trump can’t get $454 million bail: ‘Mission impossible’

Trump can't get $454 million bail: 'Mission impossible'
Donald Trump

Noos News

Republican presidential candidate Donald Trump seems convinced that political opponents are out to destroy him. Because he failed to obtain a $454 million bail yesterday, he risks having his assets confiscated by the Public Prosecution.

“I have built a wonderful company, and Corrupt Joe Biden and his obsessive public representatives are unfairly and illegally trying to take it away from me,” Trump wrote in a message on the social media site Truth Social.

Trump’s lawyers admitted before the judge yesterday that they failed to find someone to guarantee the bail that Trump must pay. In order to appeal the $454 million fine, the former president must first pay the full amount. A judge awarded Trump that amount last month because he made his financial situation better for business partners by defrauding him for years.

There are no appropriate guarantees

According to lawyers, Trump asked thirty different agencies to provide funds. All refused, because they only accept cash or securities such as bonds as collateral in exchange. However, Trump’s money is mainly concentrated in real estate, such as apartment buildings and golf courses.

Trump therefore describes the court order as “an almost impossible task for any company, even if you are as successful as I am.” What’s more, Trump says, “Bond offices have never seen a bond of this magnitude before.” “Even if they wanted to, they wouldn’t have the resources.”

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Trump’s team has now asked a higher court to delay payment until the appeal against the fine is heard. According to them, it is unreasonable to ask Trump to sell real estate to increase the amount, because such a hasty sale under great pressure reduces the price. They called this situation “betrayal.”

The judge had dismissed a previous appeal against the payment obligation. Prosecutors successfully argued that because of fluctuations in Trump’s wealth, there was no guarantee he would be able to pay if the fine was upheld. In this case, the government will have to spend a lot of money to collect the fine.

Trump has until next Monday to raise the amount. It is not clear whether prosecutors will move immediately to seize him if he misses that deadline. It is also unclear whether the Supreme Court will suspend the plea as long as the appeal is pending.

For every day that Trump does not pay, the amount increases with interest by $112,000.

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