The very fact that New York Attorney General Letitia James is plunging ahead with paperwork to seize assets belonging to Donald Trump to satisfy a nearly half-billion dollar judgment is 'derailing" the former president's delay strategy and is causing no small amount of alarm among insiders.
According to a report from CNN, the former president has been remarkably successful at using the courts to forestall being brought to justice but the financial fraud ruling by Judge Arthur Engoron is not playing out like his multitude of other legal problems.
Noting that avalanche of Trump Truth Social posts on Friday about his worth and the money he needs for his appeal bond due by Monday, CNN is reporting they reveal a "... reality that has pushed Trump’s company and personal finances to the brink with just two days remaining to land a solution."
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One problem, the report notes, is that even if the former president has the $400 million he boasted about in an early morning Friday posting, it doesn't come near enough to the total he needs.
"He consistently pegged the number during legal proceedings at $400 million and, barring any recent and unreported cash infusion, a person familiar with his finances confirmed that remains roughly where his cash holdings stand," CNN is reporting before adding, "The $464 million decision levied in the verdict, and the bond Trump is scrambling to secure to forestall potential seizure of his properties, would require cash or cash equivalent of roughly $557 million based on industry practice. And at least some of the money Trump does have is tied up in loan agreements that include terms requiring him to have tens of millions of dollars in cash on hand."
According to a GOP lawmaker close to the Trump camp, until now the former president has seemed invulnerable but AG James plan to have liens in place if the bond is not posted has changed the game.
“I think the whole thing is b------t,” they explained. “But it had gotten to the point where it seemed like nothing will ever stick to him, so this has been different.”
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