The deadline for former US President Donald Trump to raise several hundred million dollars in bail to appeal his fraud conviction in New York expires this Monday. This astronomical sum has so far remained elusive for the former businessman. His lawyers have applied for a waiver of this bail, but in the absence of a favorable decision, what scenarios lie ahead?
Time is running out for Donald Trump. On February 16, the former President of the United States and his two sons, Donald Jr. and Eric, were convicted of financial fraud, with a total sentence of around $464 million in financial reparations to be paid.
Donald Trump is required to pay approximately $355 million, plus $100 million in interest, for a total of $455 million. For his sons, $8 million, also with interest, is due. Although they have appealed, the former President remains obliged to provide a guarantee of his ability to pay this substantial fine and to make the funds available to the courts.
This fine represents a considerable sum which could have a serious impact on the former President’s finances. In the absence of a bail waiver, Donald Trump could consider declaring bankruptcy, which would enable him to avoid payment. However, such a move could damage his image as a successful billionaire, affecting his popularity and electoral potential.
“If Trump can’t pay the half-billion-dollar bond, he faces humiliation and serious financial consequences,” says Carl Tobias, a professor at the University of Richmond Law School in Virginia (east).
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