Trump faces Monday deadline to put up $454M bond in New York civil fraud case
AOC blasted as 'hopelessly uninformed' after Trump asset remarks
Fox News legal analyst Gregg Jarrett breaks down former President Donald Trump's looming deadline to pay nearly $500 million in the New York civil fraud case.
Rep. Alexandria Ocasio-Cortez, D-N.Y., said that there is a "risk in not seizing" former President Trump's assets, warning about what Trump could do to secure the funds to post a $454 million bond in his New York civil fraud case. Responding on "Fox & Friends" Monday, Fox News legal analyst Gregg Jarrett called the comments "just plain ignorant."
LOOMING LEGAL PENALTIES RAISE QUESTIONS ABOUT DONALD TRUMP'S FINANCES
GREGG JARRETT: I have no idea what she was saying. … I don't really think she does. You know, trying to make sense of anything AOC says is sort of a favorite Washington parlor game. She has this uncanny ability to talk incessantly, while saying absolutely nothing. And that is because she is hopelessly uninformed, terminally obtuse, and I think just plain ignorant. This is the same person a week ago who said RICO or racketeering is not a crime. No sane person takes AOC seriously, which I suppose is why she's always featured on CNN.
Rep. Alexandria Ocasio-Cortez (D-NY) speaks to reporters as she is joined by fellow House Democrats in the Rayburn House Office Building on December 13, 2023 in Washington, DC. (Kevin Dietsch/Getty Images)
Trump faces a deadline Monday to pay the $454 million penalty in the civil fraud judgment against him or the state of New York will have the opportunity to seize his properties while he appeals the ruling – though it remains unclear what will happen if he fails to do so.
In February, a New York judge ruled that Trump fraudulently overstated his net worth and the value of his real estate properties to secure more favorable terms for loans and other transactions. The judge imposed a fine of $354 million plus interest that took the total penalty to $454 million, which Trump will have to pay outright or post a bond covering the full amount while he appeals the ruling.
Trump has denied that he tried to deceive anyone through the financial dealings in question. His legal team has appealed the ruling in an effort to allow him to continue his appeal after posting a smaller amount or defer posting the judgment until the end of the appeal. The appeals court hasn't issued a ruling on the request.
His lawyers have said in court filings that Trump's team has approached over 30 surety companies that could guarantee the bond have thus far turned him down. They said that to obtain a bond, Trump would likely have to put up 120% of the judgment, or more than $557 million in this case, and that he would need about $1 billion in cash or cash equivalents to collateralize the loan to still have enough capital to operate the business.
Fox Business' Eric Revell contributed to this report.
This article was written by Fox News staff.
