On Monday 25 March, the deadline for Donald Trump to make a $454 million payment in a fraud case expires.
On 16 February, the businessman was found guilty of overstating the wealth of his family business for the sake of more favourable terms on loans from banks.
Trump intends to appeal the court's decision, but to do so, he needs to post the full amount of the claim as collateral.
According to his lawyers, the billionaire is unable to pay $454 million from his own funds, and 30 surety companies have rejected his request for payment, so the collateral remains outstanding.
As of 26 March, Trump's property in New York State is under threat of confiscation.
The properties that may be seized by court order include a golf course, the Seven Springs estate and the famous Trump Tower.
UPDATED. The New York Court of Appeals has significantly reduced the amount of bail that Donald Trump must post after being convicted of business fraud. On Monday, 25 March, the court ruled that the ex-president must deposit only $175 million into the court account or provide guarantors for this amount, AFP reports.
The politician has ten days to comply with the court's decision.
Background. As a reminder, the New York prosecutor's office is investigating Trump's loans for real estate in Manhattan – he could have received $280 million in loans illegally.