(FeaturedNews.com) – On Tuesday, former President Trump claimed that he was going to need to take extreme measures to cover the $464 million bond in the New York civil fraud case which is due next week. As he argued, to cover that amount he would need to liquidate some of his assets by selling some of his properties for “fire sale” prices.
Trump took to his social media platform Truth Social to slam New York Judge Arthur Engoron, who had ruled against him in the fraud case. As he had pointed out, Engoron had ruled that he would need to spend millions of dollars just so he could be given the right to appeal this decision. He added that in other words, this move was an attempt to remove Trump’s Appellate Rights.
In his post on Tuesday morning, Trump argued that this is something that was previously unheard of. He added that in order to pay off the amount he would either need to mortgage or sail many of his assets and that if he ended up winning the Appeal all of that money would still be lost.
This warning by Trump came a day after his lawyers filed a motion informing the court that the former President had not been able to secure the necessary bond. As they pointed out in the motion, because of the size of the bond no insurance company would be willing to cover it as their internal policies stop them from issuing any bonds that are over $100 million.
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