Do Nothing Approach: Trump May Let Attorney General Letitia James Seize Trump Tower Instead of Paying Bond, Insiders Say
Donald Trump is just days away from the deadline to post a roughly half-billion dollar bond in his civil fraud case in New York.
Donald Trump is just days away from the deadline to post a nine-figure bond in the New York civil fraud case against him and insiders said he is considering letting it pass, allowing Attorney General Letitia James seize his bank accounts or buildings including Trump Tower, RadarOnline.com has learned.
Sources said the former president may opt for the do nothing approach with the belief that it may work out more favorably for him in the end, according to a Wednesday report.
Although it is speculated that Trump may "go nuclear" with a Chapter 11 filing to protect his real estate assets across Manhattan, sources said that may not align with what he is trying to accomplish in his 2024 bid.
"Even if there is a taking, it doesn't mean he can't take it back later," one source said, according to the New York Post. That isn't a guarantee, however, as the New York AG's Office could decide to sell off any properties it confiscates in order to recover the cash penalties owed.
Friends reasoned that he may go with that move as Trump believes he has a strong case and the chances are good that he could recover the assets on appeal.
Trump's lawyers said earlier this week that it had been a massive struggle for the embattled GOP frontrunner to secure a bond after he was turned down by 30 insurance companies.
Sources said the former president may opt for the do nothing approach with the belief that it may work out more favorably for him in the end, according to a Wednesday report.
He has until Monday — that is, unless the appeals court agrees to grant his motion to delay fronting the money until after the appeal is heard.
Although it is speculated that Trump may "go nuclear" with a Chapter 11 filing to protect his real estate assets across Manhattan, that may not align with what he is trying to accomplish in his 2024 bid. "He's been there and done that," one tipster close to the politician said.
- 'FIVE HUNDRED MILLION DOLLARS': Donald Trump Unleashes in All Caps Early Morning Rant About His Wealth as He Struggles to Post $464 Million Bond
- Meltdown: Donald Trump Complains He’ll Be 'Forced to Sell Great Assets' at 'Fire Sale Prices' to Cover $454M Appeal Bond: 'Does That Make Sense?'
- ‘I Look at 40 Wall Street … Every Day’: NY Attorney General Letitia James Ready to Seize Trump’s Buildings to Satisfy $355 Million Judgment, Taunts Ex-President After Court Win
Trump asked the appeals court to pause the $454 million judgment or accept a bond of only $100 million.
"He doesn't want pity or for anyone to feel sorry for him," added an insider who claimed he has not chosen to raise funds via wealthy "friends and supporters" despite his connections.
"He will do what he has to do. He has plenty of wealthy friends who would help him if asked, but he's not asking, as far as I'm aware," said the source.
"He will do what he has to do. He has plenty of wealthy friends who would help him if asked, but he's not asking, as far as I'm aware," said an insider.
Trump and the other defendants were previously found civilly liable for committing illegal acts and defrauding business partners by providing inaccurate asset values.
Never miss a story — sign up for the RadarOnline.com newsletter to get your daily dose of dope. Daily. Breaking. Celebrity news. All free.
The judge ordered Trump to pay more than $354 million in penalties, plus interest.
Powered by RedCircle