Letitia James handcuffed Trump's ability to bail himself out after fraud fine: expert

Now that Donald Trump has been saddled by Judge Arthur Engoron with a massive financial fraud penalty that could cost him upwards of $450 million, MSNBC legal analyst Lisa Rubin pointed out that the former president has limited options on where to turn for money.

Appearing on MSNBC's "The Weekend," Rubin noted that New York Attorney General Letitia James was playing the long game when she asked Engoron to place tight financial restrictions on Trump and the Trump Organization.

"About two months after Letitia James first filed her complaint, she asked for relief, saying that she had enough evidence to show even at that early stage that he [Trump] should be prevented from doing a number of things with his assets," she explained. "Those things include, after the appointment of the independent monitor, he cannot wholesale transfer or sell any of his significant assets without notice to the independent monitor, nor can he restructure or refinance his businesses either."

After noting the former president was able to service the judgment against him in the Trump University case Rubin stated that is not available to him this time due to the injunction James requested much earlier in the case.

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"He can't do that here and the reason is because this order, in addition to the preliminary injunction saying you can't refinance, you can restructure without advance notice, this sort of goes even further," she told the hosts. " It says you can't borrow money from a New York registered or chartered bank, period, for what I believe is at least a three-year period of time."

"That means in order to satisfy these judgments, Donald Trump has to, I think, rely on his own asset base," Rubin elaborated. "And, yet he has an independent monitor who's going to be on top of him every step of the way, as well as a new independent director of compliance, who's going to be scouring the books and making sure that what happens at the Trump organization is on the up and up to use a legal term."

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MSNBC 02 17 2024 08 11 26youtu.be