Donald Trump is on the brink of a critical deadline that could affect his extensive real estate holdings due to a business fraud case requiring him to furnish a $464 million penalty for exaggerating his net worth.
The deadline, set to expire on Monday, puts him at risk of having his assets frozen by New York authorities if he fails to post the required bond or secure a court delay.
In parallel, Trump faces another legal challenge with a hearing in New York related to a case involving adult film actress Stormy Daniels, which might lead to setting a date for his first criminal trial. This case revolves around alleged hush money payments.
Despite Trump’s struggle to secure a bond after reaching out to several financial institutions, a New York appeals court is considering his request for a stay on the judgment, which could offer temporary relief. Trump has claimed to have nearly $500 million in cash, which could potentially cover the bond and protect his assets during the appeal process.
The penalty was imposed by a New York judge for Trump’s fraudulent inflation of asset values to obtain favorable loan terms, with his sons also facing financial penalties. New York Attorney General Letitia James, who provided a 30-day grace period for Trump to arrange the payment, has indicated readiness to seize Trump’s assets if the deadline is not met. This could include high-value properties in New York and Florida, such as the iconic Trump Tower and the Mar-a-Lago club.
Trump, whose net worth is estimated by Forbes to be around $2.6 billion, has also faced other significant legal expenses, including a $83 million payment ordered in a defamation case lost to E. Jean Carroll. Trump, who has been criminally charged in four separate cases, is the first former president in U.S. history to face such legal scrutiny.
