:quality(85)/cloudfront-us-east-1.images.arcpublishing.com/infobae/SNKFS5W4EQYGR7VKNSJU5SJGV4.jpg "Donald Trump will have to mortgage or sell assets at a discount to pay the bail imposed by Justice")
Former President Donald Trump faces challenges in paying a hefty USD 464 million bail imposed by the US Justice Department, claiming lack of liquidity to meet the demand. In a letter to Judge Arthur Engoron of New York, Trump’s lawyers argued the impossibility of raising such a large sum, prompting the former president to consider mortgaging or selling off assets at a bargain price.
Trump, through his social network Truth Social, criticized the judge’s decision as “ridiculous” and labeled it as part of a “witch hunt” and “electoral interference.” The deadline for Trump to complete the payment is March 25, with the state potentially seizing and selling his assets if he fails to do so.
This legal battle comes on the heels of Trump posting bail for nearly $92 million in another defamation case, where he was ordered to pay $83.3 million in damages to writer E. Jean Carroll. The former president’s lawyers are racing against time to prevent the New York Attorney General from enforcing the sentence as early as Monday.
If Trump cannot pay, the state has the power to seize and sell his assets, including properties like Trump Tower, office buildings, and golf courses. Asset seizure is a common tactic when individuals are unable to pay civil fines, and Trump may have to part with valuable assets to meet the bail conditions.
The situation underscores the ongoing legal challenges faced by Trump post-presidency, with his financial resources being scrutinized in high-stakes legal battles. As the deadline looms, the former president’s financial maneuvers and legal strategies will shape the outcome of this complex and high-profile case.