Last month, Judge Arthur Engoron ordered Trump to pay $454 million, including interest, after finding the former president liable for fraud in a civil case brought by state Attorney General Letitia James. Trump’s attorneys, who are appealing Engoron’s decision, requested a stay on the bond payment as the case was appealed. However, a judge denied that request. Trump is required to post the bond by Monday, otherwise New York officials could seize his assets to cover the nearly half billion dollar penalty. “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 posted on his Truth Social account on March 22, in his signature format of using all capital letters. “THE OFTEN OVERTURNED POLITICAL HACK JUDGE ON THE RIGGED AND CORRUPT A.G. CASE, WHERE I HAVE DONE NOTHING WRONG, KNEW THIS, WANTED TO TAKE IT AWAY FROM ME, AND THAT’S WHERE AND WHY HE CAME UP WITH THE SHOCKING NUMBER WHICH, COUPLED WITH HIS CRAZY INTEREST DEMAND, IS APPROXIMATELY $454,000,000,” he added. “I DID NOTHING WRONG EXCEPT WIN AN ELECTION IN 2016 THAT I WASN’T EXPECTED TO WIN, DID EVEN BETTER IN 2020, AND NOW LEAD, BY A LOT, IN 2024.THIS IS COMMUNISM IN AMERICA!” the post concluded. Days before the announcement, Trump’s attorneys called the $454 million bond a “practical impossibility” after being denied by roughly 30 surety bond companies through four separate brokers. Their efforts, which included “countless hours negotiating with one of the largest insurance companies in the world,” have proven that “obtaining an appeal bond in the full amount” of the judgment “is not possible under the circumstances presented,” his attorneys said in a court filing. They added that other bond companies would not “accept hard assets such as real estate as collateral,” but “will only accept cash or cash equivalents (such as marketable securities).” Trump’s attorneys argued that the bond requirement effectively requires cash reserves approaching $1 billion, which is “unprecedented for a private company.”Former President Donald Trump says he has the money he needs in order to post bond in the New York civil fraud he’s facing.
Trump’s announcement occurs on the same day that Digital World Acquisition Corp. shareholders approved a merger with Truth Social.
“The long-delayed merger between the blank check company and Trump Media & Technology Group (TMTG) received regulatory approval from the Securities and Exchange Commission (SEC) last month,” The Hill reports. “Trump stands to make about $3.5 billion from the deal, given the nearly 79 million shares he would control in the newly merged company.”
“Despite the potential windfall coming his way, Trump won’t be able to immediately access the money, due to a provision that prevents insiders from selling new shares for six months,” the outlet added.
