Former president and 2024 GOP front-runner Donald Trump claims he is not able to raise enough money to pay the $454 million bond in the New York civil-fraud case against him.
As the Monday deadline to pay the bond approaches, some insiders are saying he might “go nuclear” with a Chapter 11 filing to protect his real estate holdings.
A third option would be for Trump to “do nothing” and let New York Attorney General Letitia James begin seizing his bank accounts and properties. Some speculate this would be the most likely option, as Trump has done this before and stands a chance to regain any seized assets on appeal.
“Even if there is a taking, it doesn’t mean he can’t take it back later,” a source close to Trump told the New York Post.
If James decides to simply seize Trump’s real estate assets and sell them off, this could backfire on New York. As one insider told the Post, “There will be severe consequences — not an insurrection. People will stop doing business in New York. No one will take the risk, and lenders are now spooked. The real estate market is already a disaster, with office buildings worth a fraction of what they were once worth, and there are metastasizing effects when a large part of the city’s budget is from real estate.”
