Analysis: The Peril of Trump's $600 Million Troubles

Frida Ghitis, a former CNN producer and correspondent, is a world affairs columnist. She contributes weekly opinions to CNN, writes for The Washington Post, and is a columnist for World Politics Review. The views expressed in this commentary are her own. To read more opinions, visit CNN's website.

Former President Donald Trump's lawyers recently told the court that he is struggling to raise the necessary funds for a bond to cover the massive judgment against him in the New York attorney general's civil fraud case. Trump, a wealthy figure known for his bragging about wealth, is facing close to $600 million in legal judgments, leading to a financial crisis.

Frida Ghitis

Frida Ghitis

CNN

To his critics, the thinking is that any obstacle in Trump’s path puts him further from the presidency and so, makes the country safer. In this case, however, the opposite may be true.

The ex-president, who may return to power, appears to be facing financial difficulties, which could potentially make him more dangerous. He is in urgent need of money or else he may have to surrender some of his prized properties to settle legal matters. This desperation might expose him to offers of assistance from America's adversaries and competitors.

Ironically, Trump himself brought attention to the potential conflicts that could arise from relying on external funds. Despite his claims of immense wealth, he assured voters in 2016 that his campaign was entirely self-financed, unlike his opponent's. While this was not entirely accurate, his point was valid. He argued that accepting money from others would come with expectations, stating boldly in his presidential campaign announcement in June 2015, "I don't rely on anyone else's money."

Now Trump is in need of a significant amount of money. What will his creditors or supporters expect in exchange?

It was quite surprising when Trump completely changed his stance on the TikTok platform after meeting with a wealthy stakeholder at his Mar-a-Lago estate. Initially, he had promised to ban the app in the US due to national security concerns during his presidency. However, with Congress pushing to remove TikTok from China's influence, he has suddenly changed his position.

Alarm bells started ringing when news of Trump's bond issue was made public. Illinois Democratic Rep. Sean Casten expressed concern by stating, "The presumptive @GOP nominee for President is in need of $464M (and counting), making him a significant national security threat. Any foreign adversary looking to influence a President knows the price."

Former President Donald Trump, left, listens as Senate candidate Bernie Moreno speaks at a campaign rally March 16, in Vandalia, Ohio.

Former President Donald Trump, left, listens as Senate candidate Bernie Moreno speaks at a campaign rally March 16, in Vandalia, Ohio.

Jeff Dean/AP/File

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A New York judge recently found Trump guilty of fraudulently manipulating his property values, resulting in a $450 million penalty plus interest. The judge criticized Trump for showing no remorse, calling his behavior borderline pathological. Furthermore, Trump was also ordered to pay over $80 million to E. Jean Carrol for defamation in January, stemming from his denial of sexually assaulting her. Despite his denial of any wrongdoing, Trump faces significant legal fees from various civil and criminal cases.

In addition to these hefty judgments, Trump is struggling with mounting legal costs that have drained his presidential campaign funds. As a result, his campaign funds are falling far behind President Joe Biden's substantial financial resources.

Anyone who believes that America's enemies are not closely monitoring potential vulnerabilities is simply being naive.

It is quite astonishing that the previous president is considering rehiring the disgraced Paul Manafort, a Russian-associated operative who was previously incarcerated, as his campaign chairman. This decision would raise serious concerns, particularly in relation to Russia, even without taking into account Trump's financial difficulties.

Manafort worked for various dictators before joining Trump's campaign in 2016. Following his time with Trump, he was convicted of financial crimes and served time in prison until Trump granted him a pardon.

Before joining the Trump campaign, Manafort had already received large sums of money from Russian oligarchs and pro-Kremlin Ukrainians. Surprisingly, he offered to work for free. While representing Trump at the 2016 Republican convention, he reportedly influenced the GOP platform to remove a plan supporting Ukraine, which was facing aggression from Russia. This move was a significant shift for the party.

Getty Images/AP

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Now Trump is interested in bringing him back, but this time in a fundraising role.

However, there are numerous ways to support Trump without being involved in his campaign or presidency. For example, Jared Kushner, Trump's son-in-law, has been making headlines with his post-administration endeavors. Apart from successfully securing a $2 billion investment from Saudi Arabia for his company, Kushner is also actively engaged in projects in the Balkans.

He recently announced that he is finalizing significant real estate deals in Albania and Serbia. Despite any legal or ethical concerns surrounding these transactions, the fact remains that Trump's son-in-law, a former White House official, is involved in business deals worth millions of dollars in foreign countries like Serbia, which has close ties to Russia. This situation could potentially lead to opportunities for individuals looking to influence US politics by providing financial support in exchange for favorable government policies.

If foreign funds do end up benefiting Trump, it would not be a new occurrence.

When Trump faced financial difficulties in the 1990s and his businesses went bankrupt, banks refused to help him. However, Russian billionaires stepped in to rescue him.

In 2008, Donald Trump Jr., the son of the former president, mentioned at a real estate conference in New York that a significant portion of their assets came from Russians. He also noted that they were receiving a lot of money from Russia.

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In today's world, there is a significant amount of money circulating globally, and many individuals or organizations may be looking to use their wealth to gain influence. Whether they are from another country or within our own borders, these funders may request favors in return for their financial support.

We do not have any evidence of Russians reaching out to Trump, Kushner, or Manafort. It is worth noting that Trump seems to already share similar views with Russian President Vladimir Putin, especially regarding Ukraine, a conflict that Trump appears to prefer Putin to succeed in.

Saudi Arabia has also helped increase the wealth of Jared and Ivanka Trump. The intentions behind this support from the Saudis remain unclear to us.

Trump's financial challenges, which have been described as "insurmountable," have the potential to impact America as well. With a possibility of him being re-elected as president, he is currently seeking solutions to overcome these financial hurdles, the true extent of which only he may be aware of.

Editor's P/S:

Frida Ghitis's article raises valid concerns about the potential national security risks posed by Donald Trump's financial difficulties. His desperate need for funds could make him vulnerable to influence from America's adversaries, particularly Russia. The author cites Trump's past willingness to change his positions on policy after meeting with foreign stakeholders, as well as his previous reliance on Russian funds, as reasons for concern.

Ghitis also highlights the potential conflict of interest posed by the involvement of Trump's son-in-law, Jared Kushner, in business deals with countries like Serbia, which has close ties to Russia. These transactions could provide opportunities for foreign actors to exert influence over US politics. The article concludes by emphasizing the need to be vigilant about potential foreign interference in American elections and to ensure that candidates are not beholden to external interests.