The New Yorker:

The former President’s inability to secure a $464-million bond in his New York civil fraud case is a reminder of the deep legal and financial peril he’s in.

By John Cassidy

In September, 2022, when Letitia James, the New York attorney general, sued Donald Trump for engaging in “years of financial fraud” by knowingly inflating the value of his assets, the case, a civil one, seemed like a bit of a sideshow. It was interesting, in that Trump had long been notorious for exaggerating his net worth, but it appeared to be less consequential than the ongoing criminal investigations he faced, especially the Justice Department’s probe of his actions after the 2020 election. Moreover, the office of the U.S. Attorney for the Southern District of New York had already investigated the same issues that James was focussing on and decided that they didn’t merit bringing criminal charges.

Fast-forward slightly more than a year and a half, and James’s case represents the most imminent threat to the former President and his business empire. In February, Judge Arthur F. Engoron imposed a huge fine of $354.9 million on Trump, his two eldest sons, and their associates, plus an interest charge of $98.6 million. On Monday, Trump’s lawyers told an appellate court in New York that their client had been unable to secure a bond that would guarantee the eventual payment of the fine while he appeals Engoron’s ruling. They asked the court to waive the bond, or reduce it from four hundred and sixty-four million dollars to a hundred million dollars, claiming it was a “practical impossibility” for Trump to raise such a sum. If the appeals court rejects Trump’s requests, then, at least in theory, James’s office could start legal action as early as next week to freeze his bank accounts and seize some of his real-estate assets.

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