May 18, 2024

Ferrum College : Iron Blade Online

Complete Canadian News World

Justice Threatens Donald Trump's Wealth and Real Estate Empire

Justice Threatens Donald Trump's Wealth and Real Estate Empire

Donald Trump in a Manhattan courtroom on the third day of his civil fraud trial on Oct. 4, 2023, in New York.
Angela Weiss/AFP

Story – Since the president cannot guarantee payment of $454 million, the court can seize his property.

Correspondent in Washington

Trump's real estate empire is under threat. Astronomically fined Donald Trump is reaching the end of his financial resources. His lawyers told a New York appeals court on Monday that he was unable to deposit $454 million to guarantee payment of a fine imposed by a Manhattan court for fraud. They asked the court to set aside an earlier court order requiring him to deposit the entire penalty amount while he appeals the verdict.

In a document submitted to the court, Trump's lawyers explained that their client had contacted more than thirty credit institutions to guarantee the amount, which was due at the end of the month. “For a company like the Trump Organization, most of whose assets are invested in real estate, bailing out $454 million under the current circumstances is nearly impossible.His lawyers wrote

This article is reserved for subscribers. 83% is left for you to discover.

Flash sale

€4.49/month for 12 months

Already subscribed? to login

See also  "Not going to do that": pessimism about the effectiveness of anti-Govt vaccines against Omigran