After losing a civil fraud case in New York last month, Donald Trump is facing the challenge of putting up a bond of nearly half-a-billion dollars to stop New York Attorney General Letitia James from collecting while he appeals. The judge ruled that Trump and his co-defendants must pay $464 million, with the amount increasing daily. Despite his attempts to secure a bond through insurance companies, Trump’s options are dwindling, as most companies won’t accept real estate as collateral – which makes up most of his wealth.
If Trump doesn’t post the bond by Monday, James may start claiming his assets. However, legal experts suggest she may wait for the appeals court to rule before taking action. James could move to enforce the judgment by seizing Trump’s properties in New York, including his office building on Wall Street. She could also issue subpoenas and schedule auctions of his properties to acquire the full amount owed.
One possibility for Trump is finding someone willing to lend him the money for the bond, but his limited banking relationships make this difficult. Another option is selling his stakes in his social media platform, but a lockup provision could complicate this process. Trump could also file for bankruptcy, which would delay immediate payment but not erase his debt. Overall, Trump faces a challenging situation as he navigates the aftermath of the civil fraud case ruling.
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