'He'll do anything': Expert says Trump desperate to stop Letitia James seizing property
March 22, 2024
Donald Trump has until Monday to find a $454 million bond in his New York fraud judgment or face Attorney General Letitia James swooping in to seize his assets – and an expert said Friday he's desperate to stop that happening.
Trump's lawyers claimed this week that finding the money to cover the judgment while he appeals it is a “practical impossibility," even though the former president took to Truth Social Friday and claimed he has almost $500 million in cash.
During a segment on CNN Friday, former U.S. Attorney Harry Litman was asked what he thinks will come next.
According to Litman, if Trump doesn't get a saving grace from the courts in the form of a stay on the payment or a reduction of the amount, a declaration of bankruptcy would be a possibility.
But, he added, that would be a "political disaster" for him, leaving him with the "very final choice" of allowing James to "just go and choose among his prized possessions."
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Litman went on to say that the recent news of Trump's media group going public, which could bring him a cash windfall of billions, "is not enough" because that money is not readily available.
"He has to somehow be able to convert that into a guarantee from someone [who says] that 'this is good enough for me,'" Litman said.
"We as a country would have to worry about whether a local or even foreign billionaire steps in to save him, what that would mean for him if he were to become president."
But letting James cherry-pick what she wants to grab from his business empire would be the worst scenario for Trump, Litman said.
"I just think at the end of the day he'll do anything rather than let Tish James put a metaphorical padlock on 40 Wall Street," he said.
In regards to Trump's Truth Social claim that he has $500 million in liquidity, which contradicted his attorneys, Litman said Trump's loose words could hurt him in court since it's "certainly an admission" — adding that it's "one more indication of why Trump is the worst client of all time."
"How would you like to be the lawyer saying it's practically impossible [for Trump to put up the bond amount] when your client says otherwise?" he added.
Watch the video below or at this link.
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