Trump has once again taken to his social media site Truth Social to hit back at Biden, the DOJ and Democrats, blaming them for his rapidly mounting legal costs.
“The Lunatic Left, working closely with Crooked Joe Biden and his corrupt DOJ, is not only focusing on Election Interference but on getting the Trump Campaign to spend vast amounts of money on legal fees…” he posted.
Trump Admits He Has Less to Spend on Ads
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“… thereby having less to spend on ads showing that Crooked Joe is the WORST PRESIDENT IN US HISTORY!” Trump concluded, implying his “vast” legal costs were an attempt at reducing the amount he could spend on ads for his 2024 election campaign.
PAC Shrank to $3.6 Million in August
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Trump’s Save America PAC shrank from over $100 million at the beginning of last year to $3.6 million in August after legal fees mounted for Trump, according to filings first reported in the Washington Post.
PAC Requests Refund on $60 Million Contribution
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The New York Times reported that the PAC that former President Trump uses to cover his legal expenses incurred such significant costs this year that it sought a refund for a $60 million donation it had previously made to another organization backing the leading Republican candidate.
Is a Cash Crisis Brewing for Trump?
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This could be a signal of future financial challenges for Trump, who has, to this date, not personally paid towards his own mounting legal bills.
Lawyer Questions Legality of Maneuvers Between Save America and Make America Great Again
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The former FEC lawyer Adav Noti told the Times that he questions the legality of maneuvers between Save America and the Super Pac Make America Great Again. Noti is now the legal director for the Campaign Legal Center watchdog group.
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“I don’t know that calling it a refund changes the fundamental illegality,” Noti said. “For the Super Pac and the Trump Pac to be sending tens of millions of dollars back and forth depending upon who needs the money more strongly suggests unlawful financial coordination.”
Everything Was Done in Accordance With Law, Argues Trump’s Legal Team
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Trump’s spokesperson, Steven Cheung, told the Times, “Everything was done in accordance with the law and upon the advice of counsel. Any disgusting insinuation otherwise, especially by Democrat donors, is nothing more than a feeble attempt to distract from the fact that President Trump is dominating this race – both in the polls and with fundraising – and is the only candidate who will beat crooked Joe Biden.”
Trump “Frustrated” Over the Financial Costs
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Both the Business Insider and the Daily Beast shared that Trump is “frustrated” over the legal costs. “The former president is reportedly frustrated with the investigations because of the possible legal peril they bring and the financial costs attached to them,” alleged the publications.
Trump Committees Spent Over $40 Million in Legal Fees Since Start of 2021
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Trump committees, including Save America, have spent a total of over $40 million in legal fees since the start of 2021 show filings.
Criminal Prosecutions Could Cost Over $50 Million
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Reuters has reported that four lawyers and experts said Trump’s defense in four criminal prosecutions could cost over $50 million. That is more than the money raised in this year’s first half by Trump’s campaign and its top allied PAC.
Trump’s Political Group Paid Legal Fees for More Than a Dozen Witnesses
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During an August court hearing, a federal prosecutor disclosed that Trump’s political organization covered legal expenses for over a dozen individuals connected to Trump’s ongoing trial to overthrow the outcome of the 2020 election.
Thirty Cents of Every Dollar Used on “Legal-Related Costs.”
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The New York Times reported, “New financial reports show that the former president’s various political committees and the super PAC backing him have used roughly 30 cents of every dollar spent so far this year on legal-related costs.”
$27 Million in Legal Fees in First 6 Months of 2023
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Trump’s legal costs so far this year are reported to be “more than $27 million in legal fees and other investigation-related bills in the first six months of 2023.”
Trump’s Legal Fees Could Top $100 Million
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The legal costs are expected to rise as Trump’s four criminal trials progress. According to Stephen Gillers, a law professor at New York University, the total legal fees for Trump could potentially exceed $100 million, representing one of the higher estimates among experts’ assessments.
No Comment From Save America and the Trump Campaign
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Save America and the Trump campaign have not responded to requests for comment on the legal fee estimates.
Trump Claimed He Is “Worth Far More” Than the Listed Assets
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Trump has recently been asked how his legal spending would affect his campaign. Trump told SiriusXM in a podcast, “Fortunately, I have a lot more money.”
Trump has also claimed he is “worth far more” than the listed assets at stake in his fraud case, not less as New York Attorney General Letitia James has previously alleged.
“In actuality, I am WORTH FAR MORE than the numbers put down on the Financial Statements, not less,” he said.
Trump’s Personal Worth Is Not Used to Cover Legal Fees
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However, Trump has not used any personal funds to cover his legal expenses to date. Will he be forced to fall back on his fortune to fund his own campaign?
Trump Accused of Inflating the Value of His Real Estate Assets
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NY Attorney General James has alleged that Trump exaggerated the valuations of his real estate holdings in financial documents, aiming to secure more favorable interest rates for business loans and reduced insurance premiums.
Are Trump’s claims of having “a lot more money” just delusional bluster on the part of the former President?
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