Donald Trump is confronting dual legal challenges on Monday in New York, where he faces the potential confiscation of his famed properties due to a hefty fine, while simultaneously striving to prolong a criminal trial.
The 77-year-old tycoon, who secured the Republican nomination anew despite grappling with a slew of legal allegations, has already incurred substantial penalties in two civil lawsuits.
In a case related to business fraud, Trump’s legal team must demonstrate on Monday that he can ensure payment of the $454 million fine or risk having some of his assets seized. Judge Arthur Engoron levied this fine after finding Trump and his two adult sons culpable in a trial without a jury.
Should Trump fail to furnish the requisite bond — a prospect his attorneys claim they’ve struggled to achieve — it could significantly alter his public perception. “Obviously his image would change dramatically, I would think, for many people, because he has said that he’s a billionaire and very successful,” remarked Andrew Weissmann, a former federal prosecutor and author of “The Trump Indictments.”
“If he cannot post a bond in any amount, that obviously is a huge problem,” remarked Andrew Weissmann.
Meanwhile, in a separate development, a criminal court in Manhattan is scheduled to convene at 9:30 am (1330 GMT) to determine a new date for his landmark trial regarding payments to porn star Stormy Daniels.
The former president utilized his Truth Social platform on Saturday to once again criticize Judge Engoron and New York Attorney General Letitia James unequivocally. In one emphatic message, he lambasted the judge as “GROSSLY INCOMPETENT AND CORRUPT,” while in another, he accused James of “GOING AFTER TRUMP FOR DOING ABSOLUTELY NOTHING WRONG!”
Trump consistently criticizes a judicial system he claims is biased against him, labeling it “fixed.” He has accused James, who is Black, of being “racist” and labeled Engoron, a judge he describes as “crooked,” as being under the control of Democrats.
Despite Trump’s claims of being unable to secure a bond, he boasted online on Friday about possessing nearly $500 million in cash, which he intended to utilize for his election campaign against President Joe Biden. Trump alleges that the judge was aware of this and sought to deprive him of it.
On a positive note for Trump, it was announced on Friday that Truth Social would soon go public through a merger, potentially resulting in billions of dollars for him. While these funds cannot be accessed for six months, they could aid in securing a bond. However, if he fails to do so, Carl Tobias of the University of Richmond law school suggests that Trump faces the “prospect of humiliation and serious financial harm.”
James could take measures such as freezing his bank accounts or seizing some of his New York properties. Tobias even speculates that Trump may resort to declaring bankruptcy.
Seeking more delays
Trump’s legal team has pursued every available option to delay his numerous trials, aiming to postpone them ideally until after the November 5 presidential elections. The trial involving Stormy Daniels, originally scheduled to commence on Monday, has been postponed for at least a month. Trump faces allegations of unlawfully using campaign funds to secure her silence regarding an alleged affair.
The former president, who denies the affair, could potentially receive a prison sentence of up to four years if found guilty. His legal representatives are seeking a delay of at least three months to allow them sufficient time to review the extensive evidence, which was provided belatedly by prosecutors. Additionally, they are pushing for the trial to be postponed until the US Supreme Court rules on Trump’s claim of absolute immunity for actions taken during his presidency.
