Donald Trump is in danger of seizure: Unable to pay fines of $454 million

By seizure of assets he is in danger as he is unable to make the guarantee that he will repay a mammoth for financial fraud. According to what has become known Trump is unable to pay New York justice a guarantee that he will repay the $454 million fines imposed on him for financial fraud in his property group, after his conviction in civil court in February, his lawyers protested on Monday (18.3.2024). In an area court document of some 5,000 pages, posted online yesterday by the New York federal court’s appeals department in Manhattan, defending the Republican former president of the United States argues that bailing out the gagging amount is “almost impossible”. “The amount of the amount awarded, with interest, exceeds $464 million”, i.e. 355 million plus 100 million interest on Donald Trump and eight million plus interest on his sons, Donald Jr. and Eric, and “minimal (insurance) companies would provide guarantee insurance of such size”, the lawyers rise, specifying that they came into contact with some thirty insurance companies. This means that, in the absence of a 100% guarantee of the fine, the appeal filed on behalf of Donald Trump in February to another jurisdiction, which does not involve a second trial, will have no suspensory effect: the businessman and politician will therefore be obliged to pay the entire fine by the next Monday, March 25th, or will be in danger of confiscating assets from justice. The Republican candidate for the presidency denounced by his announcement last Monday night – what else – the “hunting of witches” at his expense, the fine he described as “unconstitutional, anti-American, unprecedented and practically impossible for any business, including an operation as successful as mine”, to pay. The New York court’s appeals department rejected February 28 offer to make a bail of $100 million. The former president and his two adult sons also appealed to the ban imposed on them to run any company in the state of New York respectively for three and two years. The defense described in February the height of the fine as “excessive” and the ban on Trumps running businesses in New York City “illegal and unconstitutional”. Now, they say it is ‘unable’ to guarantee ‘guarantee’ and to pay the entire amount. In his long verdict, February 16, New York judge Arthur Engoron sentenced the former president to pay fines totalling $34.86 million for financial fraud and his two sons fines of $4 million each. New York state attorney general Leticia James prosecuted Donald Trump in October 2022 and his own civil trial, his sons, and Trump Organization company were held from October to January. The tycoon, who made property in the real estate sector before overturning the American political scene and calling into question the very republic in the United States, characterizes this decision as “a fraud” of American justice and has repeatedly been made public against prosecutor James and Judge Engoron.