Donald Trump may have to mortgage or sell assets at a discount to pay the bail set by the judge

Former President of the United States Donald Trump He reiterated this Tuesday that he does not have the cash flow to pay the bail 464 million dollars What the judge ordered Arthur Engoran Except from New York Mortgaging or selling “larger properties, perhaps at bargain prices.”

This Tuesday, Trump turned to the social network to once again blame the judge and his “ridiculous decision” after his lawyers argued in a letter to Engoron on Monday that raising the amount was “impossible” for their client. Bail imposed on February 16 and gives the Principal till now March 25 Complete payment.

“No one has ever heard of anything like this. I will be forced to mortgage or sell large properties, even at bargain prices, and if I win the appeal, they will disappear – he complained – WITCH HUNT. “Election interference!” He wrote in his usual capital letters.

Attorneys for Trump and his co-defendants in the case Fraud They argued Monday that raising that money would be impossible: “Defendants' continued and diligent efforts have demonstrated that a bond for the full amount of the sentence is 'practically impossible,'” the attorneys explained in their brief to the judge.

In addition, the legal team noted that they approached approx 30 insurance companies “Haggled countless hours” through four different brokers, but never found an insurer.

In New York, defendants in civil cases must post a bond worth at least 110% of the judgment amount to delay payment of fines while they appeal.

Earlier this month, Trump almost bailed 92 million dollars A jury ordered the author to pay $83.3 million in damages on appeal. E. Jean Carroll A separate defamation case by denying sexual assault allegations.

Trump is approaching a critical deadline in his costliest legal battle to date. If the former president does not present a financial guarantee by Monday, the New York's Attorney General may initiate collection proceedings.

Trump's lawyers are trying to block that. They have asked the court to stay collection efforts while they appeal the verdict.

The Republican presidential candidate sought bail for the full amount, which would have stopped the collection clock on his appeal and ensured the state would receive its money if he lost.

But Trump's lawyers told the court that insurers said no. They noted that it was “practically impossible” to get bail for such a large amount.

It is the Attorney General of New York, Letitia JamesWe can try to enforce the sentence from Monday itself.

If Trump can't pay, the government “can Seize and sell your property, lien on your real estate, and foreclose on anyone who owes you money.” said Syracuse University law professor Gregory Germain.

Potential targets may have characteristics similar to yours Penthouses in Trump Tower, Wall Street office buildings and golf courses. James' office may also seek court approval Empty Trump's bank accounts and investment portfoliosOr sell other assets such as their airplanes, helicopters, or their golf carts.

Asset forfeiture is a common legal tactic when someone does not have access to enough money to pay a civil penalty.

(With information from EFE and AP)