Angela Weiss/AFP
Story – Since the president cannot guarantee payment of $454 million, the court can seize his property.
Correspondent in Washington
Trump's real estate empire is under threat. Astronomically fined Donald Trump is reaching the end of his financial resources. His lawyers told a New York appeals court on Monday that he was unable to deposit $454 million to guarantee payment of a fine imposed by a Manhattan court for fraud. They asked the court to set aside an earlier court order requiring him to deposit the entire penalty amount while he appeals the verdict.
In a document submitted to the court, Trump's lawyers explained that their client had contacted more than thirty credit institutions to guarantee the amount, which was due at the end of the month. “For a company like the Trump Organization, most of whose assets are invested in real estate, bailing out $454 million under the current circumstances is nearly impossible.His lawyers wrote
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