As the deadline for paying a half-billion dollar bond approached, Donald Trump reacted angrily to prosecutors and threatened bankruptcy.
The former president, who is running again in this year’s election, is under fire after a New York court determined that he, his sons, and their family corporation lied about the worth of assets, defrauding banks and insurers.
Shares of his social media company might begin trading on the stock market as early as Monday, increasing his net worth by $3 billion, but it is unclear when the funds would be available to cover his $454 million bond.
“No trial, no jury, no crime, no victim,” Trump stated on his Truth Social page. “Only a corrupted judge and a corrupt, Trump-hating attorney general who follows directions directly from the White House.
“Election interference at a level never seen before!”
Trump claimed that thanks to “hard work, talent, and luck,” he had about $500 million in cash that he intended to spend on his election campaign, adding that the judge “knew this, and wanted to take it away from me.”
Trump Media plans to go public by combining with the shell business Digital World Acquisition Corporation.
A vote on Friday could approve the long-delayed merger, resulting in a bonanza for Trump — though the financial infusion could take months.
Prior to entering politics, Trump had a public image as a property developer and businessman in New York.
Despite the real estate mogul’s estimated net worth of $2.6 billion and his own claims of having cash on hand, his lawyers say it has been impossible to raise the $454 million bond, which is due on Monday.
Typically, such bonds are underwritten by an insurer or specialized bond business.
However, Trump’s lawyers claim that after approaching 30 such entities, none will accept the former president’s real estate holdings as security.
Trump, who is facing 91 felony counts in other instances, has used his legal issues to rally followers and criticize his opponent, President Joe Biden, claiming that all of the court cases are a political ploy to undermine his electoral chances.