The deadline is here for Donald Trump to post a
nearly half billion dollar bond in his civil fraud case.
Marilyn Rivera live in Washington with more on other legal
issues he's facing today.
Marilyn, good morning.
Hey, good morning Bob and Jen.
So that's right, the 30 day grace period for him
to pay up the nearly $500 million bond in his
New York civil fraud case.
And today if he can't pay Hugh risks having his
assets seized and bank accounts frozen.
But there's also another development regarding his hush money payments
case.
Donald Trump returns to a New York City courtroom today
for a hearing to further delay a criminal trial related
to his hush money payments case after it was postponed
due to a last minute evidence dump.
His attorneys asking the judge to delay the case till
summer or throw it out altogether.
It comes as Trump tries to avoid a financial crisis
related to a
$454 million judgment in his civil fraud case.
I would think that the president feels some desperation right
now.
If he doesn't post bond by today,
New York Attorney General Letitia James could start seizing his
assets unless he is granted to stay until his appeals
are exhausted.
In a filing last week,
Trump's legal team says he does not have enough cash
to make the payment and could not get a loan
despite asking 30 different lenders.
His son Eric alleges this entire case comes down to
politics.
No one's ever seen a bond
this size. Every single person.
When I came to them saying,
hey, can I get a half billion dollar bond,
Maria, they were laughing. Despite the legal battles,
recent polls show Trump in a close battle with President
Biden,
though Biden's team says the real test will come in
November.
The jury that matters the most is the American people.
On Election Day, the legal matters have to take their
own course.
James has filed judgments in Westchester County,
New York, where Trump's golf course and Seven Springs estate
are located,
a sign she could be eyeing those properties.
Trump says he's willing to to challenge his judgment all
the way to the Supreme Court.
Bob and Jen, right. And and tomorrow the appellate court
is set to hear
this case, Right. So how does that play into this?
Well, it's one of the options that Trump has right
now,
right? He's appealing this case to a higher court.
So there are some options for him still,
in terms of how he could potentially handle this
500, nearly $500 million bond.
There's also a chance that he could sell properties,
but he has publicly ruled out that option,
at least for now, because he says that would cause
him irreparable damage if he does win on appeal.
There's also the possibility that he could declare bankruptcy,
But the chances of him doing so?
A man who has built his reputation brand around wealth,
there's a, there's a very low likelihood that people be
taking that option.
There's some question about whether he should take truth,
social, public, right? Right. Yes.
So that is actually going public.
But he could potentially get a windfall of up to
3 1/2 billion dollars,
potentially $4 billion. But there's a lock of agreement here
and that prevents him from selling his shares for the
next six months.
And I've been talking to a lot of business experts
who say that
even with this lockup agreement like he could go a
former President,
Trump could go up to the board and ask them
to waive this lockup agreement.
But the chances of them doing so are very low
because if he sells any shares that causes the companies
shares to tank.
So that's not really in the interest of the company
for him to do that.
So that's one of the things.
In addition, I was also getting this from a business
law,
a professor. They also say that because the former President
Trump is a majority shareholder in the company,
the amount of shares they can actually sell,
once he is able to do so,
the amount of shares that he'll be able to do
so is limited within a certain time frame.
So he won't be able to sell a lot.
He won't be able to do it like a massive
dumper,
super, super, super complicated, almost like nothing's going to happen
immediately today,
but we'll see. Well, you know,
it is politics and well,
it's, it's a legal entanglement for.
Yeah, for sure. Thank you exactly.
Thank you, Madeline. We got it.
Thanks guys.