Trump claims to have about $500m money as he fights fraud enchantment bond

Donald Trump on Friday claimed to have almost half a billion {dollars} in money — after his attorneys stated he would not manage to pay for to publish a bond for his $464 million civil fraud enchantment.

The obvious contradiction might be critical: Trump has only a few days left to get an enchantment bond that will cease New York Lawyer Common Letitia James from beginning to gather on the huge judgment.

“By way of onerous work, expertise, and luck, I presently have virtually 5 hundred million {dollars} in money, a considerable quantity of which I supposed to make use of in my marketing campaign for president,” Trump wrote in an all-caps Fact Social post Friday morning.

He additionally claimed the decide who delivered the fraud verdict was stopping him from spending his cash on his presidential marketing campaign.

This marked the primary time Trump has stated he would spend his personal cash to fund his presidential marketing campaign. To this point, Trump has not contributed any cash to his present White Home bid. He not contribute any of his personal cash to his 2020 marketing campaign both, in keeping with NBC Information.

Both method, Trump’s claims in Friday’s posts — that he does have the money to pay the bond, however he’s saving it to bankroll his marketing campaign for president — just isn’t one which his attorneys have made to the appeals court docket judges who’re contemplating his request to pause the fraud judgment.

His attorneys claimed Monday that it was “not possible” for him to get a bond, as a result of he doesn’t have the money to safe one and since no potential insurers will settle for Trump’s actual property as a substitute.

James has stated she is going to seize Trump’s actual property property if he cannot pay. Her workplace has already begun making ready to take motion in Westchester County, the place Trump owns a number of properties.

Trump requested a New York appeals court docket to pause the judgment with out requiring him to publish a bond for the total quantity.

Trump Group lawyer Alan Garten wrote that the one method Trump and his co-defendants might get an enchantment bond can be to place up his properties as collateral.

Garten stated they’d requested greater than 30 bond insurance coverage corporations to underwrite the bond, however that each one of them had stated no.

Trump’s attorneys argued that whereas the Trumps are rich, they’re in the true property enterprise, and thereby wealthy in property. Because of this, they would want to promote or mortgage their actual property with a purpose to safe the bond, “inflicting irreparable hurt.”

Garten and spokespeople for the Trump Group didn’t instantly reply to CNBC’s requests for touch upon Trump’s social media posts.