Despite the focus on Donald Trump’s potential criminal trial in Manhattan, he is facing an immediate threat: the challenge of posting a nearly half-billion-dollar bond in the New York civil fraud case against him and his company.
His lawyers recently disclosed that the Trump Organization had approached around 30 companies to secure the bond but none were willing to underwrite such a large amount without significant cash from Trump. Currently, Trump does not have the required liquidity for the bond.
The bond would prevent the collection of a $454 million judgment while Trump appeals the case where he was found to have fraudulently inflated his net worth. If a higher court does not pause the judgment or reduce the bond size, Trump will face tough choices.
While facing four criminal trials moving slowly, the civil cases against Trump are already exerting substantial pressure. He has already posted a $91.6 million bond in a defamation case and requested a delay in civil cases in federal court related to the Capitol violence on Jan. 6, 2021.
There may be a positive financial development in the upcoming days with the public launch of his social media company, Truth Social, which has garnered support from Trump’s followers. However, it is uncertain whether his stake in the company can be quickly converted to cash. On the other hand, his campaign fundraising lags behind President Biden’s.
The looming large judgment as Trump eyes another presidential run could lead to ethical concerns as the former president navigates financial challenges, potentially resorting to deals with foreign governments, according to Richard Painter, a law professor and former ethics lawyer for President Bush.
Trump’s intertwined public and private roles and his history of dealing with foreign entities could raise ethical issues, especially as he faces mounting legal troubles. The ongoing legal battles could impact his defense strategy and financial decisions, adding complexity to his already tumultuous situation.
Business deals
Trump’s lack of distinction between public and private interests coupled with his ongoing legal challenges pose significant risks as he moves forward with his business ventures and political ambitions.
Amid his financial struggles, Trump’s criminal trial in Manhattan related to falsifying business records to conceal payments to a porn star during the 2016 campaign looms large. The trial, set to commence soon, could have far-reaching implications for Trump’s future legal battles.
While some civil cases have faced delays, Trump’s legal team argues for postponements, citing unfairness in defending against civil suits before the criminal trial concludes. The uncertainty surrounding the legal proceedings underscores the mounting challenges facing Trump as he navigates multiple legal fronts.
If granted a stay in the civil lawsuits, the future timeline remains uncertain. The halt in the Jan. 6-related criminal case due to Trump’s immunity claims further complicates his legal predicament. The Supreme Court’s impending ruling on his immunity claim could impact the trajectory of the case, adding more layers of complexity to Trump’s legal battles.
Where does each criminal case stand?
Trump is currently embroiled in four separate criminal investigations at state and federal levels, involving various aspects of his business and political activities. Here is an overview of the current status of each case.
