NEWSDonald Trump Likely to Declare Bankruptcy to Delay Paying $500 Million in Damages, George Conway Claims
George Conway suggested former President Donald Trump might declare bankruptcy to postpone paying $355 million plus interest in penalties imposed by Judge Arthur Engoron last week.
George Conway believes Donald Trump will file for bankruptcy.
Conway, the board president of the Society for the Rule of Law Institute and estranged husband of ex White House adviser Kellyanne, replied to a post on X, formerly known as Twitter, suggesting that Trump's next move might be to declare bankruptcy.
"Bankruptcy is Donald Trump's likely next legal move to delay paying more than $500 million in damage awards," David Cay Johnston, an investigative journalist and Syracuse Law lecturer, wrote on the social media platform.
Conway shared Johnston's post, claiming that "the odds of this happening are fairly high."
Donald Trump owes around $500 million in damages.
Last Friday, Judge Engoron ordered the former president to pay the substantial amount for inflating asset values to gain better financial terms. Additionally, Trump was barred from functioning as an officer or director of any entity in New York for three years, while his sons faced a two-year ban.
The former New York businessman turned GOP leader recently lost another legal battle and was ordered to pay $83.3 million for defaming writer Jean E. Carroll, whom he allegedly sexually assaulted in the mid-1990s.
The deadline for Trump to appeal the $83.3 million defamation ruling is March 12.
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Donald currently faces 91 criminal charges.
Additionally, despite facing 91 felony charges across four criminal trials, Trump, a leading contender in the Republican presidential primary, maintains his innocence and plans to challenge the court's decisions.
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Trump still has four criminal trials ahead of him in the coming months.
In New York, Trump was charged with 34 counts of falsifying business documents regarding hush-money payments made to adult film star Stormy Daniels, which has a maximum sentence of four years for each count. He pleaded not guilty to all charges.
In Florida, the former president was arraigned and pleaded not guilty to 37 felony counts surrounding classified documents he withheld from the FBI in Mar-a-Lago, including willful retention of classified information, withholding a record, conspiracy, false statements and obstruction.
In D.C., he was charged with conspiracy to defraud the United States, conspiracy to obstruct, obstruction of and attempt to obstruct an official proceeding and conspiracy against rights related to American citizens' right to vote for his role in the January 6 riots.
Lastly, he faces charges in Georgia related to efforts to overturn the state's results in the 2020 election.
