Insiders: Donald Trump May Not Pay Bond — And Instead Let Letitia James Seize Trump Tower

With a looming Monday deadline for Donald Trump to secure a hefty $454 million bond in the ongoing civil fraud case against him in New York, insiders suggest he might be contemplating an unconventional approach: inaction.

The former president purportedly finds himself grappling to gather the necessary funds for the bond, encountering hurdles in securing financial assistance from banks or affluent acquaintances, with his legal team asserting on Monday that meeting this requirement was practically unfeasible.

While there’s speculation circulating that Trump might resort to drastic measures like filing for Chapter 11 bankruptcy to shield his prized real estate assets scattered across Manhattan, experts caution that such a move could introduce unwanted complexities, particularly with the 2024 election season intensifying.

“He’s been down that road before,” remarked an individual close to Trump, downplaying the likelihood of a Chapter 11 filing.

Alternatively, Trump could allow the deadline to elapse, effectively placing the onus on New York Attorney General Letitia James to seize his bank accounts or properties — notably Trump Tower, the iconic site where he launched his 2016 presidential campaign and where his lavish penthouse is situated.

This avenue seems to have caught Trump’s attention, partly because he entertains optimism about reclaiming the assets through the appeals process, even if it necessitates taking the case to the US Supreme Court, according to sources.

“Even in the event of a seizure, it doesn’t mean he can’t regain control later,” divulged an individual close to Trump to The Post.

However, opting for inaction carries its own set of risks, including the New York AG’s Office’s authority to liquidate any confiscated properties to recoup the owed financial penalties.

“Their focus is on recovering the money, not acquiring the buildings — unless the judgment is overturned before any sales occur,” explained Adam Leitman Bailey, a legal expert specializing in commercial real estate based in New York.

Sources with Trump’s favor argue that the former president is confident in the strength of his defense. Apart from legal considerations, they contend that if the ruling remains unaltered, it could have widespread repercussions, instilling a sense of apprehension among business operators in New York due to its potential applicability to anyone.

“There will be significant repercussions — not an uprising. Businesses will shy away from New York. No one will be willing to take the risk, and lenders are already wary. The real estate sector is already in turmoil, with office properties now valued at a fraction of their former prices, and there are cascading effects when a substantial portion of the city’s revenue comes from real estate.”

Insiders close to Trump maintain that he could tap into his network of affluent “friends and supporters” for financial assistance, yet he has yet to pursue this avenue.

“He’s not one to pass around the collection plate — he doesn’t seek sympathy or pity,” asserted the insider. “He’ll do what needs to be done. He has plenty of affluent allies who would come to his aid if he requested, but to my knowledge, he hasn’t made such a plea.”

{Matzav.com}