New York fraud case: Will Donald Trump pay $464m in 5 days?

The Republican presidential nominee Donald Trump needs to pay $464million bond in five days or his assets might get seized, BBC reported.

The time is ticking for the former president as, if he fails to pay, New York Attorney General Letitia James may start seizing his properties, which includes the iconic Trump Tower.

Trumps lawyers, on Monday, told the New York court that securing a bond of $464m has proven to be "impossible," and that they approached several companies, but all of them refused.

The former president is facing a plethora of cases, including a civil fraud case, which alleges that Trump, his sons and former aide Allen Weisselberg, overvalued their properties for years, deceiving banks and insurers to secure loans and bonds.

Trump maintains that he is worth several billion dollars, however, all his money is tied up in properties and liquidating this money will take time.

Last month, Trump claimed that he has "fairly substantially over $400 million in cash," but back to back court defeats have pushed his legal debts to almost half a billion dollars, Barron's reported. 

Besides the civil fraud case, Trump faced a defamation and sexual assault case by writer and journalist E Jean Carroll who alleged that Trump sexually assaulted her. The former US president was ordered by court to pay $83.3m to the writer in January 2024.