Published 03/25/2024 14:57 | Edited 03/25/2024 15:21
The former president is accused of manipulating his net worth and property values at his family real estate company to deceive creditors and insurance companies. Despite the fortune estimated at US$2 billion, the wealth is contained in real estate assets, which take time to be sold
Former US President Donald Trump (Republicans) has up to 10 days to pay a bond of 175 million dollars (R$871 million). Trump faces a civil fraud lawsuit and risks New York state seizing some of his important properties.
The former president is accused of manipulating his net worth and property values at his family real estate company to deceive creditors and insurance companies. This Monday morning, Trump wrote on social media that the number defined by Engoron was “fraudulent”.
In New York, if you make money by persistently committing fraud, you must return the ill-gotten gains to the state. In this case, the judge ruled that Donald Trump earned more than $350 million than he should have if he had told the truth about his assets, and when interest is added, the amount comes to $454 million.
The Trump campaign on Friday asked for donations from “one million pro-Trump patriots,” saying the “iconic Trump Tower” was among its properties at risk of seizure.
The former president’s defense managed, this Monday, to reduce the amount of bail he owes, from US$454 million (R$2.26 billion) to US$175 million, and extended the deadline for payment.
His fortune is estimated at 2.4 billion dollars by Forbes magazine, but much of it is due to real estate, which cannot be sold quickly. Thus, the former president said that he was unable to pay 454 million in fines and that several companies denied him a loan to raise the money.
Source: vermelho.org.br
