As the presumptive Republican candidate for the upcoming November presidential election, Donald Trump’s nomination seems somewhat certain. Despite garnering enough support within the Republican Party, he is struggling to raise sufficient funds for his own election campaign. He faces several legal challenges, including a significant lawsuit in New York, where he is required to deposit a large sum by next Monday.
If Trump fails to deposit nearly 45 crore dollars in bonds in court by next Monday, part of his bank accounts and properties may be seized. Consequently, Trump is scrambling to raise this substantial amount of money.
Donald Trump, along with his children and organization, has been found guilty of fraud in a case in New York. They have been accused of concealing the true value of assets and engaging in fraud with multiple banks and insurance companies over the years. Despite fighting against this verdict, Trump faces the guarantee of a bond worth $450 million to be deposited by next Monday.
Trump’s lawyers are struggling to arrange the necessary bonds with nearly 30 insurance and bond companies. They are unwilling to take the risk of attaching Trump’s assets. Due to Trump’s previous efforts to keep some assets tied up, it may not be possible to obtain loans.
Several American experts believe that if Trump fails to arrange the necessary bonds by Monday, he could face humiliation and severe financial losses. Even if another court or New York’s Attorney General intervenes, he may have some extra time to deposit the bonds.
Trump has accused the court of political conspiracy against him. He fears that he will be forced to liquidate or sell his assets to pay off the bonds. Even if he appeals against the verdict and wins, the assets will remain frozen until then.
Despite facing 91 other cases, Trump is not prepared to give in. He is trying to leverage the sympathy of his supporters to gain political advantage from his personal crisis.
Trump alleges that these lawsuits are aimed at obstructing his path to victory in the upcoming election. He has also criticized President Joe Biden.
Despite having control over the Republican Party, Trump is unable to benefit from it. There is uncertainty about how the donors of the Republican Party will accept the initiative to raise funds for the candidate’s legal expenses. Trump lags behind Biden in fundraising for election campaigns.
