Trump Can’t Find $464 Million for Bail

According to CNN, Donald Trump will not be able to find insurance to cover the $464 million bail set during his trial in New York, where the former president was convicted on February 16, 2024, for inflating the Trump Organization’s assets.

Trump was also banned for three years from doing business in New York state or holding top positions in state companies. But this is still all about a billionaire who owns priceless real estate. However, it can’t pay its liens, and so Trump, particularly due to the huge costs of paying lawyers to assist him in his many lawsuits, is now allegedly in a liquidity crisis. Thus, lawyers for the New York Court of Appeals requested a delay in the payment deadlines set by the end of March 2024. According to the same lawyers, 30 insurance organizations were approached to find the necessary amount, but no one will put themselves at risk for more than 100 million, and no one will want to use the property as collateral. The request is to extend the deadline until the end of the appeal, and the guarantee would be the tycoon’s own real estate, which is worth considerably more than the debt. Trump will also have to pay $90 million in an assault and defamation lawsuit against Jean Carrol, with other criminal trials still pending. Bloomberg estimates that there could be losses equal to 15% of his assets due to fines and lawyers. If he fails to pay, Judge Arthur Engoron expects interest of $112,000 for each day he is late.

Campaign finance problems are also a concern: Joe Biden has $155 million in his campaign coffers, while Trump is said to have stopped at $40 million.