Trump unable to get $464m bond in New York fraud case, his lawyers say

[Social Media]

 

Donald Trump, the former president, is facing difficulty in securing a $464 million bond required in a New York civil fraud case. This bond is necessary for him to continue his appeal process. Trump's lawyers stated that finding a bonding company willing to guarantee such a large amount is practically impossible. They attempted to negotiate with several insurance companies, but were unsuccessful in securing the bond.

 

The $464 million penalty was imposed by a New York judge who found Trump guilty of falsely inflating assets to obtain better loan deals. Along with the monetary penalty, Trump was also banned from running any businesses in the state for three years. Although the business ban was temporarily paused by a judge last month, Trump's appeal still requires him to either pay the full amount in cash or secure the bond.

 

According to Trump's lawyers, bonding companies typically issue bonds of such magnitude only to the largest public companies, not individuals or privately held businesses. The lawyers also stated that bond companies do not accept hard assets like real estate as collateral, requiring cash or cash equivalents for the bond.

 

Failure to pay the fraud judgment could result in the seizure of Trump's assets by the New York attorney general. Additionally, interest on the penalty is accruing at a significant rate until the amount is paid.

 

Trump's legal troubles extend beyond this case, as he was ordered to pay $83 million in another lawsuit after losing a defamation case to E. Jean Carroll, who accused him of sexual abuse. Despite Trump's estimated net worth and liquid assets, the substantial penalties he faces pose a significant financial challenge.

 

19.03.24

Source

 

[Walker88]

No lenders will loan him that kind of money? Could it be the six bankruptcies that has lenders hesitant? Maybe all the lawyers and subcontractors he's stiffed? Lenders couldn't find $455 million of unencumbered assets to use as collateral? I'm beginning to think maybe he's no more a billionaire than he's 6'3", 235 lbs, has a 33,000 sf apartment, and is like...really really smart. I fear soon we'll hear injecting Lysol doesn't cure Covid!

 

Is trump like Christopher Hitchens once said about another conman, that trump is so full of BS that if you gave him an enema, you could bury him in a matchbox?

 

Perhaps Mohammed bin Salman has his own polling agency and sees trump behind Biden, so the bloated one has no more influence to peddle?

 

Elon? Elon? Are you there for me? Jeff Yass? Don't you want Tiktok? I can give it to you. Ken Griffin? I'll keep carried interest.

[ozimoron]

What does that tell you?" Cohen asked. "It tells you that he's not nearly as rich as he sold himself to the American people, that he — even at the trial he told the judge he had at least $400 million in cash. If that's true, post it, and if it's not true, it could be a perjury charge."

 

https://www.rawstory.com/trump-bond/

[pomchop]

poor poor little donnie...gee a few days ago his attorney said he is worth 14 billion bucks...and i seem to remember since about 2015 trump ran/lied on the campaign that he was so very very rich that he would not need or ever ask for anyone's money which is part of why he got elected

 

of course he then sells trading cards and golden sneakers and likely soon pics of melania boobs or anything else he can think of to squeeze more $$ out of his brain dead followers who wouldn't recognize that they have been conned all along by one of the biggest lying conman on earth if he called them and told them personally he was just kidding...

 

que the maga mob to come on here and defend him and talk about the witch hunts and how everyone who is not maga is out to get him....

 

cohen is correct that next up may be some $$ coming to him from his saudi, ruskie, chinese, n korean buddies who he would then owe BIGLY should the country be stupid enough to re elect him.

[ozimoron]

Kirschner added that the news is a sign that Trump's claim of being of in possession of $14 billion in assets was likely a lie.

 

"He is now being asked to put up a bond to secure basically a half-a-billion-dollar judgment, which would represent about one-twenty eighth of his entire assets as Donald Trump [and his lawyer Alina Habba] say," Kirschner said.

 

Kirschner went on to say that if Trump's assets are valued at the level he says they are, "I would think insurance companies and sureties would be beating down his door to do business with him."

 

https://www.rawstory.com/trump-tower-letitia-james/

[Tug]

Oh gawd I can’t stop blubbering accompanied with uncontrollable sobbing and rivers of snot……must send mmmmoney nnnowww!! HE HE HE couldn’t happen to a more deserving specimen.let the auctions begin!!!

[Chomper Higgot]

I’ve said for a long while, it is firm belief that any member of this forum who’s assets are greater than their liabilities is wealthier than Trump.

 

I strongly advise his supporters don’t send him a single penny of their own hard earned money.

 

The poor excuse for a man is a grifter.

[Dolf]

Interesting

 

 

[2baht]

Lock the lying buffoon up!

[TorquayFan]

Trump has had 'insurmountable' difficulties with the further $464 million required by the New York judgement. The Court are firmly bound to recover the $464 million from his assets, but such recovery will be at 'fire sale' values and insofaras these assets are not unencumbered by mortgages.

 

Given that the penalties in the NY case were to punish DT's frauds by overvaluation of assets, this does not augur well for DT. Will he be ruined? Is he in fact, a 'Billionaire' at all - the NY case suggests his financial status is not what he or his lawyers claim.

 

Trump's credibility disappears in a vortex as this goes on, real time, with $80 million of interest being added to his woes daily. Surely his Election hopes are doomed . . . . ? Worth noting too that Trump's demeanour in recent speeches is looking distinctly more odd than usual.

[bamnutsak]

4 minutes ago, TorquayFan said:

but such recovery will be at 'fire sale' values

 

A lot of people say this but, assuming no collusion, I think prices would be closer to market than fire.

 

He made $100 million on the D.C. Post Office property.

 

 

[Mutt Daeng]

I wonder why son-in-law Jared doesn't lend him some of the $2 billion he got from the Saudi's for services rendered. Surely Jared doesn't think that Honest Don won't pay it back.

Edited March 19 by Mutt Daeng

[herfiehandbag]

1 hour ago, Dolf said:

Interesting

 

 

If he is as much maligned as this fellow claims, and it is in fact a political class action against the whole real estate development business and it's financing method, why then are these persecuted (albeit wealthy) individuals, and the banks which as he says are so much part of the business, not putting up the bond for Trump?

[Eric Loh]

Tick tok time is running out old Donny.  NY AG will start going after Trump’s prized properties should he failed to make the deadline to post the bond. He will be forced to sell his properties in a fire sale and sell them cheap. History of frauds and cons finally caught up with him. Karma is such a bitch. 

[thaibeachlovers]

Whatever happens, it is just going to make Trump more popular and garner more votes. Every time the so called "justice system" is used to attack him it only serves to increase his likelihood of winning in November.

 

$83 million for an "accusation" of sexual abuse and defamation! C'mon man, that abuse by the legal system.

Every time I read nonsense like this it just makes me hope more for him to win and get revenge on the lot of them.

It's gonna be sweet!

[bamnutsak]

Quite telling that Trump did not prepare, months or a year ago, for the potential of losing the case and having to post a bond for appeal.

 

Meanwhile, the State AG seems well-prepared to begin applying for liens on trump properties.

 

Letitcia James, professional, prepared.

 

Trump, unprofessional, unprepared.

 

 

[JonnyF]

4 hours ago, Social Media said:

Donald Trump, the former president, is facing difficulty in securing a $464 million bond required in a New York civil fraud case. This bond is necessary for him to continue his appeal process.

 

Wow, it appears that justice is only for the uber wealthy in the grand old US of A. $464 million to appeal a decision. Seems a tad steep. So much for the Amercian justice legal system. The best system the ultra wealthy can buy. 

 

It's a good job he's going to walk it in November. Especially since these incidents are merely adding to his popularity. 

 

https://www.cbsnews.com/news/poll-trump-leads-biden-economy/

[bamnutsak]

1 minute ago, thaibeachlovers said:

Whatever happens, it is just going to make Trump more popular and garner more votes.

 

So this is good news for you?

 

And yet, all you can think of is sweet revenge. How curious.

 

2 minutes ago, thaibeachlovers said:

it just makes me hope more for him to win and get revenge on the lot of them.

It's gonna be sweet!

 

 

[Dolf]

4 minutes ago, thaibeachlovers said:

Whatever happens, it is just going to make Trump more popular and garner more votes. Every time the so called "justice system" is used to attack him it only serves to increase his likelihood of winning in November.

 

$83 million for an "accusation" of sexual abuse and defamation! C'mon man, that abuse by the legal system.

Every time I read nonsense like this it just makes me hope more for him to win and get revenge on the lot of them.

It's gonna be sweet!

Totally. Truckers refused to deliver to NY. There was no fraud. The banks didnt lose any money. Now investors are avoiding NY.

[Dolf]

6 minutes ago, thaibeachlovers said:

$83 million for an "accusation" of sexual abuse and defamation!

Crazy system. 

[thaibeachlovers]

4 minutes ago, bamnutsak said:

Quite telling that Trump did not prepare, months or a year ago, for the potential of losing the case and having to post a bond for appeal.

 

Meanwhile, the State AG seems well-prepared to begin applying for liens on trump properties.

 

Letitcia James, professional, prepared.

 

Trump, unprofessional, unprepared.

 

 

Trump, unprofessional, unprepared.

 

You just pointed out why Trump is popular. He's more like a normal human being than the snakes politicians that infest Washington. The "common" man" ( and woman ) can identify with him, unlike the "professional exploiters" in congress, who live in their bubble, out of touch with the reality of those without loadsacash, who only deign to acknowledge the masses when they want them to vote.

[thaibeachlovers]

8 minutes ago, bamnutsak said:

 

So this is good news for you?

 

And yet, all you can think of is sweet revenge. How curious.

 

 

 

Trump winning will be very good news and if revenge occurs I'll be lovin' it.

From not wanting Trump to run at all, last year, I've come full circle and want him to win biggly.

 

Using the "justice system" against a political opponent is unacceptable behaviour and must be punished.

[thaibeachlovers]

11 minutes ago, Dolf said:

Totally. Truckers refused to deliver to NY. There was no fraud. The banks didnt lose any money. Now investors are avoiding NY.

I hope that snakepit goes down big time.

[bamnutsak]

2 minutes ago, thaibeachlovers said:

I hope that snakepit goes down big time.

 

You do realize that trump has significant real estate holdings in NY state.

[bamnutsak]

16 minutes ago, thaibeachlovers said:

You just pointed out why Trump is popular.

 

 

So we'll be seeing 

 

16 minutes ago, thaibeachlovers said:

Trump, unprofessional, unprepared.

 

on T-shirts, ads.

[Chomper Higgot]

3 minutes ago, bamnutsak said:

 

You do realize that trump has significant real estate holdings in NY state.

Well for the time being he does.

[gargamon]

25 minutes ago, JonnyF said:

Wow, it appears that justice is only for the uber wealthy in the grand old US of A. $464 million to appeal a decision. Seems a tad steep

You shouldn't comment if you don't understand how it works. To appeal a court decision against you, you need to put up in cash or bond for the total amount plus any interest that would accrue while the appeal goes forward. It makes perfect sense, as it prevents the losers (like Trump) from delaying the payout the courts have already levied against them. 

[Eric Loh]

14 minutes ago, thaibeachlovers said:

Trump winning will be very good news and if revenge occurs I'll be lovin' it.

From not wanting Trump to run at all, last year, I've come full circle and want him to win biggly.

 

Using the "justice system" against a political opponent is unacceptable behaviour and must be punished.

You are funny dude. Using the justice system against opponent is unacceptable but extrajudicial revenge is acceptable. Boy you such a conflicted person. 

[thaibeachlovers]

14 minutes ago, bamnutsak said:

 

You do realize that trump has significant real estate holdings in NY state.

LOL. Not for much longer after they steal them to pay off that woman and anything else they can invent.

[thaibeachlovers]

14 minutes ago, bamnutsak said:

 

 

So we'll be seeing 

 

 

on T-shirts, ads.

Is that the best you can come up with, seriously?