Scientologists Elena and Grant Cardone established a GoFundMe page to help pay Donald Trump’s latest legal bill.
The ardent MAGA supporters set up the page hours after the former president was ordered to pay $355 million fine for lying about his wealth for years.
‘I stand unwaveringly with President Donald Trump in the face of what I see as unprecedented and unfair treatment by certain judicial elements in New York’ Elena Cardone wrote on the page.
Cardone is seeking donations from supporters to cover the full cost of Trump’s fine.
However, only $167,000 had been donated as of Saturday evening.
Scientologist Grant Cardone, pictured here with Megyn Kelly, established a GoFundMe page to help pay Donald Trump ‘s latest legal bill
Former President Donald Trump faces a potential cash crunch as he faces a $355 million award from a New York judge, following an $83 million damage award in the E. Jean Carroll defamation case
‘The recent legal battles he faces are not just an attack on him, but an attack on the very ideals of fairness and due process that every American deserves’ Cardone wrote.
This is more than a legal fund,’ she explained, ‘it’s a call to all patriots to rally in defense of a man who has never hesitated to stand in defense of us.’
The judgement on Friday found Trump, his company and executives, including his two eldest sons, schemed to dupe banks, insurers and others by inflating his wealth on financial statements.
It is the latest fallout in Trump’s ongoing legal woes, that include an upcoming trial for election fraud and another for sanctioning ‘hush money’ payments to an adult entertainer ahead of the 2016 election.
Paying off the $355 million fine could require some tough decisions within the Trump empire.
Trump has already been ordered to pay $83 million to writer E. Jean Carroll in her defamation suit, which followed a $5 million award in a separate trial where he was found liable for sexually abusing her.
With those liabilities, while facing a mountain of legal fees in his four criminal trials, Trump may be forced to try to secure a bond. Recent campaign financial reports revealed PACs associated with Trump had shelled out $50 million in legal fees.
A bond would typically cost him 10 percent of the amount owed, which would require him to come up with $35 million that he could not get back.
The heart of the case against Trump related to claims the court found to be inflated over actual market values for Trump properties.
Trump Tower, where Trump’s triplex apartment came up in court, is worth a net $56 million when $100 million in debt is subtracted, according to one estimate. A misstatement of the size of his triplex apartment was part of Trump’s fraud case
Trump’s stake in the building at 40 Wall Street alone – which featured in his fraud trial – is estimated at $80 million
If he were to start offloading, Trump would find out what some of the buildings were really worth.
With those liabilities, while facing a mountain of legal fees in his four criminal trials, Trump may be forced to try to secure a bond. Recent campaign financial reports revealed PACs associated with Trump had shelled out $50 million in legal fees.
A bond would typically cost him 10 percent of the amount owed, which would require him to come up with $35 million that he could not get back.
The heart of the case against Trump related to claims the court found to be inflated over actual market values for Trump properties.
If he were to start offloading, Trump would find out what some of the buildings were really worth.
Forbes calculated that Trump’s New York City real estate is worth $690 million. His real estate outside the city is worth $190 million, and his golf clubs and resorts are worth $870 million.
Trump has made boasting about those assets part of his iconic brand, and according to the magazine his social media and branding business is worth $160 million.
Trump used his Truth Social platform to rail against his prosecution in New York, but the value of the site has fluctuated in estimates.
Former President Trump’s Mar-a-Lago estate which the court found Trump inflated the value of as much as 2,300%. The tax appraisers estimate put its value between $18 and $27.6
Judge Arthur Engoron already found Trump liable for fraud but the penalty was determined with the trial. At one point in proceedings Engoron told the former president’s lawyer to ‘control your client’. Now he has slapped Trump with a $355 million award
James’ office relied on Palm Beach assessors to list the value of Mar-a-Lago at $18 million, but Trump says it is worth vastly more, perhaps more than $1 billion. Forbes put the net value at $292 million.
Selling it would be a challenge, since Trump changed it to his official residence.
Trump’s overseas golf clubs, including Trump Turnberry which is undergoing an expansion, is estimated to be worth $94 million.
Trump’s Doral golf club in Miami is estimated to be worth $166 million.
He also owns a string of other golf clubs, including one in Virginia that he used as president but has used less frequently since leaving the White House.
He has many New York properties to choose from should he seek to unload one. His lawyer Alina Habba fumed in a statement Friday: ‘Let me make one thing perfectly clear: this is not just about Donald Trump – if this decision stands, it will serve as a signal to every single American that New York is no longer open for business.’
Trump’s stake in the building at 40 Wall Street alone – which featured in his fraud trial – is estimated at $80 million.
Trump Tower, where Trump’s triplex apartment came up in court, is worth a net $56 million when $100 million in debt is subtracted.
(Donald Trump Jr. signed a letter with the Mazars accounting firm stating Trump’s apartment was 30,000 square feet, shortly after communicating with Trump Organization lawyer Alan Garten about an email stating it was 10,996 square feet, based on property records).
‘He’s not going to suddenly become working class. But it’s just going to be a lot of cash. His fortune will be significantly reduced, former federal prosecutor Diana Florence told the BBC.
The judge’s order enjoins Trump’s company ‘from applying for loans from any financial institution chartered by or registered with the New York Department of Financial Services for a period of three years,’ which limits its own options.
Trump has paid off most of the $295 million he once owed to Deutsche Bank, bringing down his liabilities since leaving office.