Title: Donald Trump Faces Financial Challenges as Deadlines for Posting Large Bonds Approach
The countdown is on for former President Donald Trump to come up with significant funds to fulfill the judgments from two recent legal losses. The financial strain poses a considerable challenge to Trump’s long-standing image of a prosperous businessman with deep pockets and the ability to navigate through legal and financial predicaments. This persona helped propel him into the White House in 2016.
As the presumptive Republican presidential nominee for 2024, Trump could potentially face a substantial debt burden, in addition to legal fees and ongoing criminal trials.
Two crucial deadlines loom within the next three weeks:
Monday, March 11
Trump has until this date to deposit $83.3 million to satisfy a defamation judgment against him by writer E. Jean Carroll, who accused him of rape and denied her allegations. Trump has filed motions in the hope of reducing the damages amount, which could result in a reduced bond requirement. However, if the original judgment stands, he would be required to put up $91.63 million with the additional cost of an 110% bond.
Monday, March 25
This is the deadline for Trump to post a $454 million bond in the New York Attorney General’s civil fraud case. An appeals court judge refused Trump’s request for a stay of this deadline, and he has now petitioned the appeals court to delay posting the bond until his appeal is heard. The appeals court is anticipated to make a decision around the same time as the deadline.
Trump’s legal team suggested posting a $100 million bond, but it was rejected by the appeals court judge. A surety will typically demand a 120% bond amount, which would necessitate Trump raising over $550 million.
Interest accrues on the unpaid amounts at a daily rate of approximately $115,000 post-judgment. Furthermore, March 25 marks the beginning of jury selection for Trump’s first criminal trial regarding the cover-up of hush money payments to Stormy Daniels. He has entered a plea of not guilty.
