USA 2024, – 227: Trump, shadow of bankruptcy, hunts for money to pay bail

March 2024
By Giampiero Gramaglia

USA 2024, now the shadow of bankruptcy looms over Trump. In fact, former President Donald Trump – says CNN – is “very concerned” about the possibility that his assets may be seized by New York Attorney General Letitia James, who has already initiated proceedings to do so.

All US media are paying close attention to the financial difficulties of the presumptive Republican candidate for the White House. Sources from his campaign staff do not completely rule out the possibility that Trump may declare bankruptcy – a procedure in the US that allows one to overcome difficult times.

The mogul is asking for donations from his supporters to cover increasing legal expenses and avoid the “dirty hands” of the New York Attorney General from seizing his properties. The appeal coincides with the approaching deadline to deposit the $454 million bail imposed on him for inflating the value of his properties for years to obtain more favorable conditions from insurance companies and banks.

Trump has until Monday to make the payment, and James has already taken initial steps to potentially seize some of his assets in case of non-payment. “Keep your dirty hands off Trump Tower” is the subject of the email sent by the former president’s campaign to his supporters. “The radical nutjob New York Attorney General Letitia James wants to seize my properties in New York, including the iconic Trump Tower… The Trump Tower is mine… The Democrats think they can intimidate me, they think if they take my cash, they will choke my campaign… But you know what’s worse? They think you will abandon me. We will never give up.”

Meanwhile, the attorney general’s office has filed the judgment from the civil trial on the inflated assets of the Trump Organization, the family’s holding company, in Westchester County. This indicates that the state of New York is preparing to seize Trump’s golf course and property north of Manhattan, known as Seven Springs.

The judgment has already been filed in New York City, where Trump’s other properties are located, including Trump Tower, his penthouse in Trump Tower, 40 Wall Street, his hotel adjacent to Central Park, and numerous condominiums.

However, the judgment has not yet been filed in the Florida counties – Miami or Palm Beach – where Trump’s Mar-a-Lago property and the Trump National Doral Golf Club and resort are located, or in Cook County, Illinois, where Trump’s hotel in Chicago is located.

When asked whether the former president had asked or intended to ask Saudi Arabia or Russia or other foreign countries for help in paying the bail, Trump’s lawyer Alina Habba replied: “I cannot speak about the strategy… There are rules to follow…”, thus not ruling out the possibility.

According to the Wall Street Journal, Trump could soon raise $3.5 billion from the merger of the company that controls his Truth social media platform with Digital World Acquisition Corp and the subsequent listing on Wall Street. The shareholders of Digital World Acquisition Corp, almost all supporters of the mogul, are expected to approve the merger today: from Monday, Truth could be listed on the New York Stock Exchange with a valuation of $6 billion and the symbol DJT, the initials of the former president. Trump cannot sell the shares for six months, but the operation itself would alleviate the financial pressure to pay the obligations resulting from the civil lawsuits and allow him to relaunch his election campaign.

USA 2024: Fundraising, Biden doubles Trump in February
Which continues to not achieve brilliant results, at least for fundraising, where President Joe Biden’s campaign is doing much better. In early March, the president and the Democratic Party had almost one hundred million dollars ($97.5), while the former president and the Republican Party had less than half ($44.8). At an election event, Biden joked, “Donald, sorry I can’t help you.”

In February, notes CNN, citing announcements made by their respective electoral committees, Biden raised $53 million, while Trump barely raised over $20 million (the mogul spent more on legal expenses than he earned).

USA 2024: On January 6, 2021, Trump threatened Pence
President Donald Trump threatened his vice president Mike Pence on January 6, 2021, when thousands of rioters stormed the Capitol to persuade the Congress, assembled in plenary, to overturn the outcome of the 2020 vote. According to the New York Times, Trump told Pence that if he certified the results of the 2020 elections, his political career in the Republican Party would be over. The source is a White House employee close to the then-president throughout that day, who heard the conversation.