Trump Offers Court a $100 Million Bond to Pause a $454 Million Judgment
Trump Offers Court a $100 Million Bond to Pause a $454 Million Judgment
The former president, who is appealing the judgment in his civil fraud case, asked an appeals court to let him avoid paying the full amount in the meantime.
It's pretty clear he doesn't have the cash to pay the judgement in full, and will need to sell illiquid assets at a discount in order to pay the full amount.
We do not negotiate with terrorists.
The only answer.
If only that was said to him.
Without a stay, Mr. Trump’s lawyers warned, he likely would have to sell some of his New York properties “under exigent circumstances,” in what would be a punishing blow to the former president.
Oh no! It’s almost as if he will have to face negative consequences for his actions.
Anyway, did anyone see the Charlotte FC game last Saturday? That was a killer goal scored.
And all these assets are most likely already leveraged to the hilt.
Oh stop it. You know how I get all hot and bothered when you talk dirty.
Punishing blow... like some sort of punishment. Oh wait, that's exactly what it's supposed to be for fraud. Pay up or straight to jail.
Right? My first thought was basically "oh no, it's the consequences of your actions", which is probably a first for the former rapist in chief.
I would think Trump, like any organized crime boss, understands the difference between “here’s what I owe you” and “here’s a quarter of what I owe you.”
One results in broken legs, one doesn’t.
Let's hope the justice system does too.
Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.
It was a stunning acknowledgment that Mr. Trump, who is racing the clock to either secure a bond from a company or produce the full amount himself, lacks the resources to do so.
Once a deadbeat always a deadbeat.
I want them to seize the Trump tower and turn it into low-income housing and a job training/community college with whatever liquid assets they do squeeze out of him. Use the disgorgement to help the people of New York have better lives.
His solid gold penthouse could be broken down for some Cash 4 Gold.
They could fund the community college in perpetuity if they auctioned off all his gaudy crap to his cult.
Turn it into the Michelle Obama Immigration Assistance Center and Abortion Clinic
Change it to Alice Paul and we might have something going there. (But housing, job training, and education are some of the most needed things in low-income communities.)
https://en.wikipedia.org/wiki/Alice_Paul (Of note, Alice Paul was against abortion as were many of the suffragettes as they viewed it as a form of exploitation. However, her legacy as a leader in the women's rights movement and in nonviolent protest are very important to world history as a whole. There is some debate about this, but it has been claimed that Ghandi kept correspondence with her and learned from her example of nonviolent protest.)
I do not
What do you think would be a good use for the buildings they are almost inevitably going to seize?
Florida Man who claimed to own billions loses court case and is too poor to pay what is ordered, begs court for mercy after complaining judgement is too harsh.
Can the court ask him as a bail to postpone any public office bid?
After swearing under oath that he did in fact have the money
LOL I love the idea that you can negotiate here. It's pretty clear that they really don't understand the ramifications of what has happened.
When Trump was first elected, it was clear that they never actually planned to win and govern. They had no plan, no staff in place, nothing. They literally didn't understand that you needed to do that.
If Trump had just stayed a celebrity real estate agent, nobody would have paid much attention to his business dealings. It's clear that they didn't understand that life would change after becoming a political figure. The same keeps happening--they can't seem to get that he's not a private business person whose dealings are opaque.
If Donnie had just stepped back and let Fauci and the professionals take over, he'd have won 2020.
Heck, he could ahve extorted billions out of the Saudis just by suggesting he might change US policy.
All his failures are about his pride.
If he had the capability to put competent people in positions and then let them do their job, then he may have been a successful President instead of a raging nuclear tire fire.
That's what kills me. This guy could have lived out the rest of his days banging pornstars and defrauding investors and no one would have raised an eyebrow until the posthumous Netflix documentary, but no, he had to go and accept the most public job in the country.
He chose this.
It's pretty clear he doesn't have the cash to pay the judgement in full, and will need to sell illiquid assets at a discount in order to pay the full amount
It's even better. The court-appointed special monitor Barbara Jones now has the power to start seizing assets until he meets the requirements to have an appeal. And, the interest meter is running, at $3mil/month.
Basically, he needs to pony up the money. Period. If the Appellate Court finds Engoron made his judgement beyond reason, they would then go through another process to determine how the courts would pay back whatever is necessary.
He's fucked.
Better still, is he swore under oath to having $450 million in cash. So if he says otherwise he then opens himself up to charges for lying under oath.
This has to be the best thing Trump ever did. His appearance in Kevin in New York was shit, I'd rather drink from the toilet than watch the apprentice, but this here, this is hilarious. In a way I don't want it to stop, but then again I want to see him behind bars and his goons wallow in their own tears. This is just epic. I'll gladly subscribe to any streaming service that makes a documentary about it. Even Disney.
🍆💦
When will he learn that this is not one of his crooked deals, but a "pay up or shut up" situation? I hope he'll have to sell his real estate pennies to the dollar.
What will happen if everything is sold and he is still in debts?
You've never been a rich privileged white man I see. Trump's only thoughts are "surely this can't be fair, there's gotta be something we can do to come to a better agreement" and he'll continue to be flabbergasted by any other result because he's never had to deal with real consequences in his life.
Learn? Trump has a handful of actions that he repeats since it's work his whole life, sue, whine loudly how badly he's treated, threaten, commit large amounts of fraud like it's going out of style. Hopefully he'll finally have reprocussions in action (know we're waiting on time while he is supposed to pay) but I doubt he'll actually learn, he'll just go back to his whining.
I always thought if it was a fighting game sue would be his default attack button.
Permanently Deleted
It's his standard operating procedure: offer a down payment and get the goods, then skip town and never pay the rest. Only I don't think it's going to work out for him this time...
If he actually skips town I for one would be very pleased with that outcome
Seems like a good deal. A few million dollars in exchange for Trump to fuck off to Russia, never to step foot on US soil again.
It's like someone playing Monopoly who has to start selling hotels and houses to pay off the Street Repairs card from the Community Chest asking to pay $100 instead.
Street Repairs: You are assessed for street repair. $40 per house. $115 per hotel
There should be zero leniency for Trump. Make him sell those hotels at a loss if necessary.
You mean face consequences like a normal person? That's a nice idea, a completely new concept. Consequences for the rich, how delightful!
I hope Leticia James has a really good response to this.
Of course she will write the strongest one possible, but this might be a case where her response isn't really that necessary except for procedural reasons--the judge is going to quash this anyway.
Art of the Deal 🤣🤣🤣
Just like in monopoly he can just mortgage a hotel. He's a billionaire, right??? 😏
Pathetic loser
Delaying hoping he gets back in office and can somehow affect the justice system to prevent the ruling.
That's not how it works, Donny Boy.
Well, it better not be. I suspect the outcome of this election is going to determine how a lot of things work.
Seriously. It's not so far out of what he's already done, to claim that the president actually owns anything that is federal property, and then sell some off to pay those debts to the states.
This is the best summary I could come up with:
Mr. Trump, who is on the clock to either secure a bond from a company or produce the full amount himself, also asked the appeals court to pause enforcement of the financial penalty and a wide range of other punishments the judge levied.
In seeking relief, Mr. Trump’s lawyers disclosed that they would be unable to secure a bond for the full amount, raising the prospect that he might soon default on the judgment if the appeals court denies his request.
“The exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond,” the lawyers wrote.
Posting bond for the full amount would prevent the New York attorney general’s office, which brought the fraud suit, from collecting the judgment until Mr. Trump’s appeal is resolved.
As of last year, he was sitting on more than $350 million in cash, as well as stocks and bonds he could sell in a hurry, according to a recent New York Times review of his financial records.
“There is no merit to defendants’ contention that a full bond or deposit is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount,” the attorney general’s office wrote.
The original article contains 513 words, the summary contains 219 words. Saved 57%. I'm a bot and I'm open source!
Pea brain Trump can’t math 😂
Lmao. The Schadenfreude is real.
It’s pretty clear he doesn’t have the cash to pay the judgement in full, and will need to sell illiquid assets at a discount in order to pay the full amount.
Good. I love to see him wince. If he has to liquidate everything penny to the pound, even better.
I wonder how much working capitol him that would leave him with.
Please don't let him near the capitol.
is my toast burning?
He's gonna come back and deal a huge blow when he eventually is elected this November, don't know how we all gonna handle this crybaby...
