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Billionaires sought to help fund Trump bond in civil fraud case, sources say
United States
Billionaires sought to help fund Trump bond in civil fraud case, sources say
By Alexandra Ulmer
March 25, 2024 9:45 PM EDT • Updated 4 hours ago
March 25 (Reuters) - Some major Republican donors were working together to help U.S. presidential candidate Donald Trump fund the original bond amount needed to cover his $454 million civil fraud judgment ahead of Monday's deadline, three sources briefed on the matter told Reuters.
Former Republican President Trump needs to pay a bond in a New York civil case in which he was found liable for fraudulently inflating his net worth by billions of dollars to secure better loan and insurance terms.
On Monday he won a bid to delay the enforcement of the judgment if he posts a smaller $175 million bond within 10 days, but until that last-minute reprieve he appeared to be struggling to raise the original amount and risked having his properties seized.
Billionaire hedge fund founder John Paulson was involved in the behind-the-scenes effort by donors concerned about Trump's legal woes and looking to help provide money toward the bond, two of the sources told Reuters. Oil and gas magnate Harold Hamm was also involved, one of those sources said. ... The sources asked not to be identified in order to speak freely about the matter, which has not been previously reported.
{snip}
Billionaires sought to help fund Trump bond in civil fraud case, sources say
By Alexandra Ulmer
March 25, 2024 9:45 PM EDT • Updated 4 hours ago
March 25 (Reuters) - Some major Republican donors were working together to help U.S. presidential candidate Donald Trump fund the original bond amount needed to cover his $454 million civil fraud judgment ahead of Monday's deadline, three sources briefed on the matter told Reuters.
Former Republican President Trump needs to pay a bond in a New York civil case in which he was found liable for fraudulently inflating his net worth by billions of dollars to secure better loan and insurance terms.
On Monday he won a bid to delay the enforcement of the judgment if he posts a smaller $175 million bond within 10 days, but until that last-minute reprieve he appeared to be struggling to raise the original amount and risked having his properties seized.
Billionaire hedge fund founder John Paulson was involved in the behind-the-scenes effort by donors concerned about Trump's legal woes and looking to help provide money toward the bond, two of the sources told Reuters. Oil and gas magnate Harold Hamm was also involved, one of those sources said. ... The sources asked not to be identified in order to speak freely about the matter, which has not been previously reported.
{snip}