Trump Appeals for Reduction of Deposit, Flaunts Cash on SNS

Trump Sitting on a Money Throne with 'Truth Social' IPO
Attorney Facing Appeal Requests "Lower the Deposit"

Former U.S. President Donald Trump's legal team stated that it is impossible to raise a deposit of 600 billion won for the appeal trial, while Trump himself boasted of holding more cash than that.

On the 22nd (local time), Trump posted on his social media platform Truth Social, "Through effort, talent, and luck, I currently have nearly $500 million (about 673 billion won) in cash, a significant portion of which was planned to be used for my presidential campaign," adding, "The political judge knew this and wanted to take it away from me. That is exactly why he came up with the shocking figure of about $454 million (about 611 billion won), including interest demands."

Former President Donald Trump is campaigning in Laconia, New Hampshire, on the 22nd (local time).
[Photo by Yonhap News]

Among this, Trump was able to secure massive funds as the listing of Truth Social was decided on the same day.

The Wall Street Journal (WSJ) reported that although it is not immediately liquid, Trump's 60% stake is valued at approximately $3 billion (about 4 trillion won).

In an interview with Fox News on the same day, Trump said, "This does not mean I will pay money to a corrupt and incompetent judge," and added, "They cannot seize your assets before you have a chance to appeal the decision of a judge who hates Trump and is incompetent."

He continued, "If necessary, I will take this case all the way to the federal Supreme Court."

Last month, in a civil trial, Judge Arthur Engoron of the New York Manhattan District Court ruled that Trump had obtained fraudulent loans by inflating asset values and imposed a fine of $454 million, including interest.

Trump appealed this decision, and to proceed with the trial, he must pay a deposit for the fine by the 25th of this month. However, on the 18th, Trump's legal team requested a halt to the enforcement of the fine or a reduction of the deposit to around $100 million, stating that there is no way to pay the full deposit.

The Washington Post (WP) and others reported that if Trump fails to pay the deposit, the New York State Attorney General could order the seizure of Trump's real estate and other assets.