Former President Donald Trump declared that he possesses nearly $500 million in cash, countering assertions from his legal team regarding his ability to meet the $464 million judgment in a civil fraud case brought by New York Attorney General Letitia James.
Trump made the assertion in a post on Truth Social, attributing his substantial cash reserves to hard work, talent, and luck.
He criticized the judge overseeing the case, accusing him of devising a “shocking number” and imposing unreasonable interest demands.
Trump reiterated his innocence in the case, stating that he had done nothing wrong except win the 2016 election unexpectedly and perform even better in 2020. He labeled the situation as communism in America and emphasized his lead in the 2024 presidential race.
Despite Trump’s claims of ample cash, his legal team faces challenges in meeting the bond requirement set by the court. Failure to post the bond by Monday could result in the seizure of Trump’s assets, including prominent properties like Trump Tower and Mar-a-Lago.
The former president’s lawyers have appealed the judgment but have struggled to secure a bond to meet the owed amount.
The legal battle intensifies as Trump’s liability continues to increase due to added interest, compounding at a rate of over $111,000 per day.
Trump has criticized Judge Arthur Engoron’s ruling, alleging political motives behind the judgment. He characterizes the situation as a government “taking,” drawing parallels to communist regimes.
Despite Trump’s claims of financial prowess, his wealth, primarily tied to real estate, faces scrutiny amid ongoing legal challenges. The former president’s assertions on Truth Social aim to challenge the narrative surrounding his financial standing amidst legal battles.
