New York Attorney General Letitia James has granted former President Donald Trump a 30-day grace period to secure a bond of over $450 million, required to satisfy the civil business-fraud judgment against him. However, with the deadline fast approaching, James is not tolerating any delay tactics from Trump.
On Monday, Trump’s legal team filed a document with a New York court, stating that they had diligently attempted to secure the bond by reaching out to 30 different companies, all of which declined to provide it.
Letitia James (Credits: Forbes)
In response, Dennis Fan, a lawyer representing James, criticized the filing as “procedurally improper,” asserting that Trump’s team should have raised their concerns earlier rather than just days before the payment deadline.
Fan also questioned why potential backers were not accepting Trump’s real estate assets as collateral, suggesting that their refusal might be due to doubts about the true value of Trump’s holdings.
Letitia James (Credits: CNBC)
He noted that using Trump’s real estate assets as collateral would typically require property appraisals and implied that Trump’s claims about the value of his holdings might be inflated.
If Trump fails to meet the payment deadline by Monday, James could move to seize his assets, potentially revealing their true value in the process.
