Donald Trump Might Need to Sell Assets to Cover Legal Costs

To cover the damages that could be awarded in his civil fraud trial, former President Donald Trump may be forced to sell his assets, according to experts.

Judge Arthur Engoron is expected to issue a final ruling in the Republican's civil fraud case this week. In September, he issued a partial summary judgment in the case, brought by New York Attorney General Letitia James, and ruled that Trump and top executives at The Trump Organization committed fraud. He held that the Republican grossly inflated the value of his assets to obtain more favorable terms from lenders and insurers. Newsweek contacted a Trump representative by email to comment on this story.

Engoron will decide how much the frontrunner for the GOP presidential nomination will pay in damages, as well as rule on six other accusations, including falsifying business records, insurance fraud and conspiracy claims. Trump has denied any wrongdoing and has said the cases are part of a political witch hunt to derail his bid for another term in the White House.

The lawsuit initially sought $250 million in damages, but James increased it to $370 million, plus interest. New York State mandates a 9 percent interest rate on the sum of damages, meaning the potential $370 million payment could be substantially higher, depending on whether the payment is backdated to when James started her investigation in 2018.