Trump says he has nearly $500 million in cash but doesn't want to use it to pay New York judgment
Donald Trump has almost a half-billion dollars in cash but says he’d rather spend the money on his presidential run instead of on the $454 million civil fraud judgment against him in New York
NEW YORK (AP) — Donald Trump claimed Friday to have almost a half-billion dollars in cash but said he'd rather spend the money on his presidential run than on the $454 million civil fraud judgment against him in New York.
The former president has been trying to get a court to excuse him from a requirement that he provide financial guarantees showing he's good for the money while he appeals the staggering verdict. He didn’t provide any documentation for his cash claim, and Trump’s lawyers have suggested it’s not feasible to tie up so much cash on a bond while also keeping his businesses running and meeting other obligations.
A judge in February found that Trump repeatedly lied about his wealth on financial statements given to banks and others to secure loans and make deals. The judge ordered him to give up profits from certain real estate deals and money he saved by obtaining lower interest rates on loans. Trump denies that he tried to deceive anyone.
As recently as Thursday, Trump's lawyers reiterated in court filings that they were having difficulty obtaining a bond covering the judgment because underwriters insisted on cash, stocks or other liquid assets instead of real estate as collateral. More than 30 bonding companies rejected their entreaties, they said.
