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The barbarians — along with a $464 million judgment against Donald Trump —are at at the gates of Mar-a-Lago. On Monday, Trump’s attorneys in his civil fraud case said securing a large enough bond is a “practical impossibility.”
Despite bragging about the depths of his pockets, Trump doesn’t have the money on hand to post bond, nor can he use his properties as collateral. According to his lawyers, nearly thirty insurance companies have already declined to underwrite a bond backed by real estate. Whatever stockpiled cash Trump does have on hand has already taken a hit. Last week he posted a $91 million bond in the second E. Jean Carroll defamation case.
Unless Trump can cough up the cash by Monday or secure a stay, Attorney General Letitia James of New York can start collecting on the judgment. Cockburn is sure James is salivating at the thought of snatching up Trump Tower and its world-famous taco bowls. James has also filed the judgment in New York’s Westchester County which means she can also move to seize his Seven Springs estate and Trump National Golf Club Westchester.
The threat has rattled Trump. “KEEP YOUR FILTHY HANDS OFF OF TRUMP TOWER,” reads a fundraising message from the former president to his supporters. The message continues, “So before the day is over, I’m calling on ONE MILLION Pro-Trump patriots to chip in and say: STOP THE WITCH HUNT AGAINST PRESIDENT TRUMP!”
The Trump campaign has also started a joint fundraising committee with the Republican National Committee to raise money. Although it’s unclear whether the money will go towards paying the bonds, the former president’s takeover of the RNC via his daughter-in-law make it more than likely.
Trump may hope to pull the money out of a left-field business deal. His personal social media platform, Truth Social, is set to merge with Digital World, a publicly traded shell company, after a shareholder vote Friday. Stocks could start trading as early as Monday, making Trump’s 79 million shares in the company worth $3 billion. “If the deal goes through, Trump’s $3.5 billion windfall could ease his financial pressure and boost his political campaign,” writes the Wall Street Journal.
Accessing the money would be tricky but not impossible for Trump. Under the terms of the merger agreement, major shareholders won’t be able to sell their shares for six months. But Trump, who has friends on the board of Digital World, may be able to have his restriction waived or be able to place his shares in trust which could be used as collateral.
