The judge in the United States has decided to reduce the bail that former President Donald Trump must pay from $454 million to $175 million. Trump has ten days to post bail so he can appeal a fraud case against him. “No one knows whether he has this amount in his account,” says America expert Koen Peters.
Judge reduces Trump’s bail to $175 million
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The judge may have reduced the amount with the expectation that the verdict in an appeal will be lower, Peters explains. ‘A lower bail will then be more in proportion to the ultimate final verdict in this fraud case.’ The case revolves around Trump’s alleged overestimation of the value of his assets at banks, so that he could borrow money more easily. And too low at the tax authorities, so he had to pay less tax on the money.
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The former president previously asked for the bail amount to be reduced to $100 million. “That seemed feasible to him,” says Peters. The problem is not so much that the deposit must be transferred, but that Trump must find a party that is willing to guarantee this, for example large insurance companies or banks. This is how the America expert explains. In addition, banks and insurance companies require large collateral. “If things go wrong, they can go to Trump to get the money.” Trump had not succeeded in finding these kinds of parties.
‘No one knows whether he has this amount in his account’
Recently, Trump indicated that he had $500 million available for his campaign. “That really surprised people, because he was so busy trying to get that $454 million.” A large part of Trump’s capital is in real estate, such as golf clubs. That may explain why it is difficult to pay the deposit.
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Last month, Trump was fined more than $350 million in the fraud case. In addition, the judge has decided that he is not allowed to do business in the state of New York for a certain period. “Trump is out of the pressure cooker for the coming days and weeks, but the case continues to play out and he has to wait and see what he is awarded on appeal,” Peters said.
Elections
Or will the bail to be paid be at the expense of Trump’s campaign money? ‘Trump’s campaign budget consists of money that he himself, the party and donors want to put into the campaign. This will therefore only be about what he wants to put into his campaign.’ Trump spent $60 million on his campaign in 2016 and nothing in 2020. ‘The question is whether sufficient campaign money comes in so that he does not have to invest his own money. If that is not enough, he can add money if necessary and if he can.’
