Former President of the United States Donad Trump told the court that he will not be able to collect the amount of a bail of US$ 454 million that he needs to deposit for having defrauded the balance sheets of his companies, his lawyers said this Monday (18).
The deadline for paying the bail is next Monday (25).
It is worth remembering that on February 16, Trump was convicted in the first instance for having defrauded the balance sheets of his companies in order to obtain loans and do business under better conditions.
Trump claims that he did not manipulate the accounting balance sheets of his companies. His lawyers appealed the decision – that is, they will try to reverse the result in a higher court.
The lawyers stated that the former president does not have this amount and proposed depositing a smaller amount, US$100 million or asking for the collection of the amount, which they say is excessive, to be suspended.
As a result, if the court does not agree to reduce the amount or suspend payment, Trump’s properties could be confiscated to deduct the sum owed.
Defenders claim that Trump and his team approached 30 companies that lend money for bail payments and four brokers to try to close a contract in which one company would be responsible for payment.
The former American president hired Gary Giulietti, an executive specializing in insurance, to try to secure a contract with a bail payment company.
If Trump loses, this contract guarantees that the bail payment company would pay off the amount.
Furthermore, lawyers say that the first instance judge is asking for an amount that in practice prevents him from appealing the sentence.
