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Trump Abruptly Sells Private Jet Amid $100M In Legal Costs

This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.
Donald Trump

Donald Trump sold his 1997 Cessna jet to Republican mega donor Mehrdad Moayedi, an Iranian-American tycoon.

10 million

The undisclosed sale took place this month, with the jet estimated to be worth approximately $10 million.

Legal fees

Trump’s legal fees have escalated following his multiple indictment, with his Save America PAC disbursing about $50 million to cover legal expenses since March 2023.

Finance laws

The fundraising for his legal defense maneuvers exists in a realm of ambiguity in campaign finance laws due to regulatory gaps and lax enforcement by the FEC.

Trump Force One

This sale comes amid increasing legal expenses and financial challenges. In addition to his Boeing 757 private jet known as Trump Force One and a collection of Sikorsky S76 Helicopters.

Hush money

Trump is currently battling the New York City trial regarding alleged hush money payments. Trump has pleaded not guilty.

Heavily relied

To cover his substantial legal fees, Trump has heavily relied on contributions to his political action committees.

100 million

Trump has spent a total close to $100 million since leaving office in 2021 to address ongoing investigations.

Criminal charges

Trump, expected to be the Republican nominee for the 2024 election, is confronted with multiple criminal charges, becoming the first U.S. president to be indicted in four cases.

Financial resources

With dwindling financial resources from his campaign fund, Trump faces the prospect of covering his legal expenses independently or seeking alternative funding avenues.

Net worth

Despite having an estimated net worth of approximately $7 billion according to Forbes, Trump encounters significant legal costs, including a $454 million civil fraud ruling in February.

Trial stage

The hush money trial marks the first among Trump’s four legal cases to reach trial stage, as closing arguments commence.

Election interference

The other cases involve alleged election interference in Georgia, federal charges linked to Trump’s efforts to challenge the 2020 election outcome, and mishandling of classified documents.

Fundraising

In addition to managing legal expenses, Trump aims to bridge the financial disparity between his campaign funds and those of President Joe Biden, with Biden’s campaign outpacing Trump’s in fundraising.

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