Former US President Donald Trump was supposed to pay bail of $454 million, but at the last minute he was granted a reprieve and a reduction in the amount. As has now become known, billionaires had already set up a fundraising campaign for the Republican. When asked about this, a Trump campaign spokesperson denied this: Trump has “more than enough money.”
US billionaire and hedge fund founder John Paulson and oil and gas magnate Harold Hamm were involved in the scheme, the people, who asked not to be identified, told Reuters. After the ruling of a New York appeals court, fundraising was no longer necessary.
Billionaires declined to comment
Paulson, the founder of Paulson & Co, did not immediately respond to requests for comment. Hamm, the founder of oil company Continental Resources, was asked by telephone about his involvement but appeared to hang up. A spokesperson for Hamm did not respond to Reuters’ requests for comment.
Trump spokesperson: “He has more than enough money”
When contacted, Trump campaign spokesman Steven Cheung said no coordinated fundraising had taken place. Trump has “more than enough money” to pay the bail himself.
Billionaires are also involved in campaign fundraising
Billionaires Paulson and Hamm are both involved in an upcoming campaign fundraiser for Trump, which has nothing to do with Trump’s bond efforts. The event invitation lists Paulson as host and Hamm as co-chair. The money raised will be used to support the presidential candidate’s election campaign, the Republican National Leadership Committee and an organization that has already covered some of Trump’s legal costs.
Paulson could get a ministerial post
Trump has discussed appointing John Paulson as his Treasury secretary as president, according to another person familiar with the matter.
Forced to provide security for financial fraud
In mid-February, Trump was ordered to pay $354.9 million plus interest, which continues to be added. He was given 30 days from February 23 to March 25 to pay that amount or a deposit. The judge ruled that it had been proven that the ex-president had overestimated his assets to defraud lenders. However, a few hours before the deadline, an appeals court ruled that the Republican did not have to post security for $454 million before midnight, as ordered by a lower court. Instead, he still has 10 days to raise the $175 million security. As in all his legal proceedings, Trump denies any guilt.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
