Trump Ponders Property 'Fire Sale' To Cover $464M Bond In Fraud Case: 'I Would Be Forced To Mortgage Or Sell'

In the latest development in his ongoing New York civil fraud case, former President Donald Trump has suggested that he might have to conduct a ‘fire sale’ of his properties to cover a $464 million bond due next week.

What Happened: Trump voiced his disapproval of New York Judge Arthur Engoron’s ruling in the fraud case on his Truth Social platform. “Judge Engoron actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision,” Trump stated, according to a report from The Hill.

“I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!"

Trump’s legal team informed the court on Monday that the former president was unable to secure the full $464 million bond due next week. They cited difficulties in finding a Treasury Department-approved surety company willing to underwrite a bond at such a high level.

Trump is appealing the decision, but must put up the bond to have his appeal go forward. Last month, Engoron ordered Trump to pay nearly $355 million in penalties in the civil fraud case, a decision that dealt a significant blow to his family’s business empire in New York.

In a series of posts, Trump railed against the judgment, calling it unconstitutional and un-American. “A bond of the size set by the Democrat Club-controlled Judge, in Corrupt, Racist Letitia James' unlawful Witch Hunt, is unConstitutional, un-American, unprecedented, and practically impossible for ANY Company, including one as successful as mine,” Trump wrote.

See Also: Former Trump Aide Says If Letitia James Seizes Ex-President’s Properties It Would Be ‘Very Hard On His Ego’

Why It Matters: Trump’s financial management has been under scrutiny, with entrepreneur Mark Cuban criticizing his financial decisions, particularly in relation to his net worth and cash assets.

Trump’s efforts to secure a bond for the judgment faced a major setback as thirty surety companies declined his request, as reported by Benzinga. This rejection increases the likelihood of his properties being seized.

Read Next: Trump Says Liz Cheney Should Be Prosecuted For What She’s Done To The Country, Cheney Hits Back: ‘You’re Afraid Of The Truth’