- Donald Trump faces a Monday deadline for paying a huge bond to New York state.
- The payment follows last month’s verdict that Trump and his company inflated the value of assets.
- The NY attorney general may move to seize Trump’s assets if he fails to pay in time.
Donald Trump is hours away from a deadline to pay a $457 million bond to New York Attorney General Letitia James.
The presumptive GOP presidential candidate was found liable in February by Judge Arthur Engoron for a $457 million fine, including interest, for conspiring to inflate the value of his assets in New York.
He has to start paying that bond by Monday, and James has previously said she may move to seize Trump’s assets if he fails to pay up in time.
Trump and other executives of the Trump Organization are liable for the nearly half-a-billion dollar penalty. They were found last month to have conspired to inflate the value of their real estate assets to dupe lenders.
The former president was given 30 days from the judgment to pay up or secure an appeals bond to cover the cost of the fines while he fought the ruling in court. That runs out on Monday.
Though he tried to secure a bond, which would have required he provide $1 billion in cash reserves to cover the risk, he was spurned by roughly 30 companies, The New York Times reported.
Trump's debt rises daily by $111,984 in interest, meaning he owes New York state another $1 million every nine days.
The debt falls due on the same day as jury selection for Trump's Manhattan hush-money trial begins. He is expected to attend that hearing.
