Trump hurtles toward deadline to pay $454 million fraud penalty

Donald Trump, who is currently engaged in the most expensive legal battle he has ever faced, is getting closer and closer to a date that is potentially very important. If the former president does not give a financial guarantee by Monday, the attorney general of New York has the right to begin the process of collecting on the more than $454 million that Trump owes to the state in a civil fraud action. However, if the former president does not provide a financial guarantee, the procedure will not begin until Monday.

There is a concerted effort being made by the legal team representing Trump to stop it from happening. During the time that he is appealing the stunning verdict, they have asked the court to put a stop to the activities that are intended to be collected. A bond for the whole sum was sought to be obtained by the candidate for the Republican nominee for president. In the event that he was unsuccessful in his appeal of the ruling, this would have served two purposes: first, it would have suspended the clock on collecting while he disputed the decision, and second, it would have insured that the state would receive its money.

More than thirty underwriters had denied the offer, according to the legal team representing Trump, which told the judge. In accordance with what they asserted, it is “a practical impossibility” that he will be able to secure a bond for such a significant amount of money. As a consequence of this, there is a potential that New York Attorney General Letitia James may start exploring the prospect of putting the ruling into effect as soon as Monday. This is an illustration of what that may look like, as well as what it would mean for the commercial empire that Trump has built up over the years.

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