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Trump pays $175 million bond


CharlieH

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Former President Donald Trump has put up $175 million as a bond while he fights the decision against him in the New York civil fraud case brought by state Attorney General Letitia James.

 

This means that any action James could take against Trump’s properties because of the judgment will be on hold until at least September. That's when the state appeals court will hear his appeal of the $464 million verdict against him.

The bond is backed by Knight Specialty Insurance, a company from California. However, the court document doesn’t say what Trump used as collateral to secure the bond.

Last month, Trump mentioned at a news conference that he planned to use cash to cover the bond. But he also said he wanted to use cash for his reelection campaign. When asked if he intended to put his own money into his presidential campaign, Trump replied, “First of all, it’s none of your business,” and then added, “I might do that. I have the option.”

The amount of the bond was reduced by a state appeals court last month by several hundred million dollars after Trump’s lawyers argued that coming up with the full bond for the $464 million verdict was not possible. (Trump himself was told to pay $454 million; the $464 million includes money for his adult sons Don Jr. and Eric.) In January, Judge Arthur Engoron fined Trump and others, including his adult sons and his company, $464 million, saying they had inflated the value of the former president’s assets fraudulently to get better loan rates. Trump had 30 days to post the bond for the full amount of the judgment while he appealed, as required by state law, but his lawyers said he couldn’t find an insurance company to back such a large bond. That made James prepare to take steps to seize Trump’s assets if he didn’t post bond.

However, when the 30-day deadline arrived, the New York appeals court intervened and lowered the bond to $175 million, giving Trump an extra 10 days.

“As promised, President Trump has posted bond,” said Trump attorney Alina Habba in a statement. “He looks forward to proving his innocence on appeal and reversing this unfair verdict.”

Trump also posted a $91.6 million bond last month in the E. Jean Carroll defamation case while he fights that verdict too.

 

Source

 

02.04.2024

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18 minutes ago, TorquayFan said:

So April 15th it is then, atm ! Should be interesting . . . .

That is the date of the NY State criminal fraud 'hush money' trial. Nothing to do with the case in this topic.

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1 hour ago, TorquayFan said:

Get it right Guys

 

Trump hasn't put up any cash at all - he's found someone to issue the bond and he has provided surety for that somehow or other.

 

As above : "The bond is backed by Knight Specialty Insurance, a company from California. However, the court document doesn’t say what Trump used as collateral to secure the bond."

 

I see the NY Judge has extended the gagging order to include the Judges daughter, Court Officials and Families. Trump really is a menace and I can't see how anyone can support him.

 

Ouvrez les yeux !   (?)

 

 

 

 

Why should Trump be gagged? No one else is.

 

The judge's daughter in a political operative that stands to gain financially when her father convicts Trump for the BS charge.

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43 minutes ago, jerrymahoney said:

Many details of the deal are private, but the former president most likely had to pay the company a fee and pledge cash and other liquid investments as collateral.

 

https://www.nytimes.com/2024/04/01/nyregion/trump-bond-deal.html

 

Of course there is a fee as there always is with bonds. If he had the cash then he'd post the bond using his cash and avoid the costs. Leaves only one option for him and that's borrowing with security against his properties because no one gives a bond of that size without security. He might have covered parts of the bond with cash but definitely only a fraction. Over 30 bond insurers turned him down before which means he didn't provide adequate securities on the larger amount, again a clear sign that he just doesn't have the cash.

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From the same NY Times link as above:

 

It was the collateral that prevented Mr. Trump from securing a bond for the full $454 million. Although Mr. Trump measures his net worth in the billions, much of that is drawn from the value of real estate, which bond companies typically don’t accept as collateral. While Mr. Trump had more than $350 million in cash and other liquid investments as of early this year, a New York Times analysis found, that was short of what he needed to secure the bigger bond.

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1 hour ago, eisfeld said:

So even the strongly reduced amount he wasn't able to cover with cash even though he claimed he could with the full amount. He's borrowing a lot of money secured against his properties. Pretty sure he didn't get great rates because the very topic of his case is that he inflated the values of his properties so who would trust him on that when granting him the bond.

 

People with far more knowledge of real estate values is who.

 

Funny, this court says that Trump overvalued property values but then impose impossibly overinflated fines.

 

He's right, it's an overt witchhunt and now everyone can see that.  

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1 minute ago, nauseus said:

 

People with far more knowledge of real estate values is who.

 

Funny, this court says that Trump overvalued property values but then impose impossibly overinflated fines.

 

He's right, it's an overt witchhunt and now everyone can see that.  

 

People with far more knowledge (compared to?) of real estate values would trust Trumps word on real estate values? Makes no sense. If they have the knowledge then they would evaluate the value themselves.

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3 minutes ago, eisfeld said:

 

People with far more knowledge (compared to?) of real estate values would trust Trumps word on real estate values? Makes no sense. If they have the knowledge then they would evaluate the value themselves.

People with far more knowledge of real estate than these corrupt judges.

Edited by nauseus
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6 minutes ago, eisfeld said:

 

I don't know what you are trying to say. Your answer to my question doesn't make sense. The question was also rhetorical.

 

Ah well. That might be because you tried two questions in one line. Sadly, it's not happy hour here. 

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Nauseus -  I'm not sure where you are coming from but this - "Funny, this court says that Trump overvalued property values but then impose impossibly overinflated fines."

 

I'm afraid those penalties imposed are typical and standard of the crazy amounts, it's the culture in litigious USA.

 

So Trump is not singled out in anyway in fact he has been favoured.

 

It escapes my memory but can you tell me how many criminal charges Trump is facing? A witch hunt? Or justice at last . . . .

 

And you support him ? Is that a good idea for you ?

 

 

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2 hours ago, nauseus said:

 

People with far more knowledge of real estate values is who.

 

Funny, this court says that Trump overvalued property values but then impose impossibly overinflated fines.

 

He's right, it's an overt witchhunt and now everyone can see that.  

Democrat crooks. All Democrats are. Climate shooks. Dodgy judges. 

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2 hours ago, nauseus said:

 

Ah well. That might be because you tried two questions in one line. Sadly, it's not happy hour here. 

 

I didn't pose two questions so again I have no idea what you are talking about. But I guess beer would explain that.

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1 hour ago, TorquayFan said:

Yellow . . . .

 

""Why should Trump be gagged? No one else is. The judge's daughter in a political operative that stands to gain financially when her father convicts Trump for the BS charge."

 

The poor Woman he abuses is irrelevant to the case, just a target dragged in.

 

Trump should be gagged as a totally irresponsible moron who tried to overturn the 2020 election result and recently posted a picture of the USA President bound and gagged in the back of a pick up truck - (the bullet in the head is uncertain but evident).

 

Every time he opens his mouth the ginger whinger speaks nonsense.

 

I'm sure you're a decent Guy but HOW can you go along with this carp ?

Poor woman, that's hilarious. Carry on lefty

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The guy that bonded trump is the go to lender for people with bad credit applying for car loans.certainly fits trump with all his bankruptcy’s and lousy track record for paying his debts.I guess the guy got lots and lots of collateral he he he I’ll bet trumps kids are mad as all get out after trump put the business at such risk lol 😆 

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11 hours ago, eisfeld said:

 

I didn't pose two questions so again I have no idea what you are talking about. But I guess beer would explain that.

Errrrr. You said, and I quote "People with far more knowledge (compared to?) of real estate values would trust Trumps word on real estate values?"

 

How many question marks do you see in it? I see two, ergo you asked 2 questions.

 

BTW, if you don't want other posters to reply to a question, you need to designate it as rhetorical. We are not psychic or mind readers.

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