① New York Attorney General James has issued a verdict to the local sheriff requesting the seizure of Trump's real estate in the region; ② There are only 72 hours left until the final appeal bond payment deadline, and Trump hasn't raised enough cash, which makes him very anxious; ③ On Friday, Trump's Truth Social will also host a key vote, which represents Trump's cash liquidity of nearly 3 billion US dollars.
Financial Services Association, March 22 (Editor Malan) Trump ushered in a critical 72 hours!
On Friday, shareholders of the shell company Digital World will hold a vote to decide whether to merge with Truth Social, a social networking platform owned by Trump. And once the merger is reached, Trump's 79 million shares will be worth about 3 billion US dollars, making it a major highlight of his recent financial difficulties.
Meanwhile, New York Attorney General Letitia James's office, which is presiding over Trump's New York fraud case, has submitted a verdict, saying that if Trump fails to submit an appeal bond of nearly 500 million US dollars by next Monday, James will begin to seize Trump's assets.
As of now, Trump has not raised enough cash to secure the appeal. Its team of lawyers is constantly asking the appellate court to relax the requirements, reduce the amount of bail or allow Trump to guarantee real estate. The appellate court has yet to respond to this request.
The merger bill voted on Friday would clearly be a boost, but analysts pointed out that even a successful merger would be difficult for Trump to immediately cash out because the ban prohibits company insiders from selling newly issued shares within six months. However, this deal could also be a turning point in events.
The eagerness of the prosecutor
James said she may seize Trump's golf course and private property in Westchester County, New York, and freeze Trump's bank accounts. The judgment, on the other hand, is the creditor's first step in recovering the property.
James also sent a verdict to New York's Manhattan district threatening to seize several commercial buildings owned by Trump in the area. For local sheriffs, once executed, the confiscation will proceed very quickly, as they will receive a portion of the property being disposed of in return.
Although this is Trump's personal financial predicament, given that the US election is in full swing, this predicament has also directly affected Trump's political career. It will at least distract him from election speeches, and may create a negative image of “Trump is an old scoundrel” among voters.
There are also reports that Trump's burning eyebrows in a hurry to secure financing for the appeal have already sparked panic in his core circle.
Trump's lawyers warned that any attempt to sell the property to meet the verdict would cause permanent damage to Trump, as buyers would try hard to lower prices. This means that much of Trump's empire will be forced to be sold to pay off this sky-high fine owed to the US government.
Trump may also be forced to consider bankruptcy, but Trump himself has privately refused to resolve the issue in such a humiliating manner.
However, these problems that have followed are continuously challenging Trump's political career. Understand if Wang can retreat this time around?