BSS
  22 Mar 2024, 21:05

Under pressure, Trump goes on attack as $454 mn deadline looms

NEW YORK, March 22, 2024 (BSS/AFP) - Donald Trump lashed out at prosecutors

Friday as the clock ticked down on the possible seizure of his assets and
threatened bankruptcy if he fails to come up with cash to pay a half-billion
dollar bond.

The former president, who is running again in this year's election, is under
pressure after a New York court ruled that he, his sons and his family
company lied about the value of assets, deceiving banks and insurers.

Shares of his social media company could start trading on the stock market as
early as Monday, upping his worth by $3 billion, but it is uncertain when the
cash would be available to cover his $454 million bond.

"No trial, no jury, no crime, no victim," Trump wrote on his Truth Social
platform. "Only a crooked judge and a corrupt, Trump-hating attorney general,
who takes her orders directly from the White House.

"Election interference at a level never seen before!"

Trump said that due to "hard work, talent, and luck" he had almost $500
million in cash that he had planned to spend on his election campaign, adding
the judge "knew this, (and) wanted to take it away from me."

Trump Media is planning to go public by merging with shell company Digital
World Acquisition Corporation.

A vote on Friday could approve the much-delayed merger and create a windfall
for Trump -- though the cash influx may be months away.

Trump built a public profile as a property developer and businessman in New
York before entering politics.

Despite the real-estate mogul's $2.6 billion estimated net worth -- and his
own claims of having cash on hand -- his lawyers say that it has been
impossible to come up with the $454 million bond, due Monday.

Typically, such bonds would be underwritten by an insurer or specialized bond
company.

But Trump's lawyers say that after approaching 30 such companies, none will
take the ex-president's real-estate holdings as collateral.

Trump, facing 91 criminal counts in other cases, has seized on his legal woes
to fire up supporters and denounce his opponent President Joe Biden, claiming
that all the court cases are a political tactic to thwart his election
chances.