CharlieH Posted April 2 Share Posted April 2 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 1 Link to comment Share on other sites More sharing options...
Popular Post nauseus Posted April 2 Popular Post Share Posted April 2 Good. Hope he recovers it all. 2 5 2 Link to comment Share on other sites More sharing options...
Popular Post JonnyF Posted April 2 Popular Post Share Posted April 2 Seems he isn't as broke as many leftists wish him to be. 1 1 2 5 1 Link to comment Share on other sites More sharing options...
Popular Post Chomper Higgot Posted April 2 Popular Post Share Posted April 2 27 minutes ago, JonnyF said: Seems he isn't as broke as many leftists wish him to be. Well we know for sure he’s not got the $500 million cash he said he has. 5 1 1 3 Link to comment Share on other sites More sharing options...
Popular Post TorquayFan Posted April 2 Popular Post Share Posted April 2 (edited) 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 ! (?) Edited April 2 by TorquayFan 2 1 1 1 2 Link to comment Share on other sites More sharing options...
Popular Post TorquayFan Posted April 2 Popular Post Share Posted April 2 $175 million is an astronomic amount. When the amount was reduced from $464 million (?) and Trump was given another 10 days, it caused some comment. Of course if the appeal fails, $464 will be still be the penalty but I surmise Trump was given extra time and a lower amount because the Court know he's ready as always, to holler about being a victim and martyr ! So April 15th it is then, atm ! Should be interesting . . . . 2 1 1 2 Link to comment Share on other sites More sharing options...
Popular Post eisfeld Posted April 2 Popular Post Share Posted April 2 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. 3 Link to comment Share on other sites More sharing options...
Popular Post jerrymahoney Posted April 2 Popular Post Share Posted April 2 8 minutes ago, eisfeld said: He's borrowing a lot of money secured against his properties. 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 1 1 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 2 Share Posted April 2 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. Link to comment Share on other sites More sharing options...
Yellowtail Posted April 2 Share Posted April 2 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. 2 2 1 1 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 2 Share Posted April 2 The gag order is in the NY State criminal fraud trial issued by Judge Merchan. The judge in the case with the $175 million bond paid is Judge Arthur Engoron. 1 1 Link to comment Share on other sites More sharing options...
eisfeld Posted April 2 Share Posted April 2 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. 2 Link to comment Share on other sites More sharing options...
jerrymahoney Posted April 2 Share Posted April 2 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. 1 Link to comment Share on other sites More sharing options...
nauseus Posted April 2 Share Posted April 2 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. 4 1 2 Link to comment Share on other sites More sharing options...
eisfeld Posted April 2 Share Posted April 2 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. 1 1 Link to comment Share on other sites More sharing options...
nauseus Posted April 2 Share Posted April 2 (edited) 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 April 2 by nauseus 2 2 2 Link to comment Share on other sites More sharing options...
Popular Post eisfeld Posted April 2 Popular Post Share Posted April 2 5 minutes ago, nauseus said: People with far more knowledge of real estate than these corrupt judges. I don't know what you are trying to say. Your answer to my question doesn't make sense. The question was also rhetorical. 1 2 Link to comment Share on other sites More sharing options...
nauseus Posted April 2 Share Posted April 2 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. 5 Link to comment Share on other sites More sharing options...
Popular Post TorquayFan Posted April 2 Popular Post Share Posted April 2 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 ? 1 1 1 2 Link to comment Share on other sites More sharing options...
TorquayFan Posted April 2 Share Posted April 2 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 ? 1 1 Link to comment Share on other sites More sharing options...
Popular Post Tug Posted April 2 Popular Post Share Posted April 2 4 hours ago, JonnyF said: Seems he isn't as broke as many leftists wish him to be. I donno Jonny lol 😝 he had to BORROW the money and pay a hefty fee,I sure hope the bonding agency got iron clad collateral with trump’s history of defrauding everyone he can!!!and here’s a nugget the deal was struck on April fools day lmao 🤣 oh boy!!! 1 2 Link to comment Share on other sites More sharing options...
scottiejohn Posted April 2 Share Posted April 2 Just think of the irony! It was the 1st of April and did they think "OK this is an April Fool" Bond so we will just pretend to accept it!!! 2 Link to comment Share on other sites More sharing options...
Dolf Posted April 2 Share Posted April 2 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. 6 3 1 Link to comment Share on other sites More sharing options...
Popular Post scottiejohn Posted April 2 Popular Post Share Posted April 2 6 minutes ago, Dolf said: Democrat crooks. All Democrats are. Climate shooks. Dodgy judges. I think either your medication is running out or your BOT needs rebooting as the above makes no sense! 2 1 Link to comment Share on other sites More sharing options...
eisfeld Posted April 2 Share Posted April 2 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. 1 Link to comment Share on other sites More sharing options...
Yellowtail Posted April 2 Share Posted April 2 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 2 1 Link to comment Share on other sites More sharing options...
Popular Post TorquayFan Posted April 3 Popular Post Share Posted April 3 Yellow I am surprised to see you are Advanced 12/14, FWIW Trump is a despicable bully - it's typical that he targets the daughter of the Judge and anyone else he can get to. Lefty or Righty you don't know, so wind it in a little. 1 2 1 Link to comment Share on other sites More sharing options...
Tug Posted April 3 Share Posted April 3 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 😆 1 1 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted April 3 Share Posted April 3 17 hours ago, TorquayFan said: Trump really is a menace and I can't see how anyone can support him. He's not Biden/ Harris. What better reason to support him than that? 3 1 Link to comment Share on other sites More sharing options...
thaibeachlovers Posted April 3 Share Posted April 3 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. 2 1 Link to comment Share on other sites More sharing options...
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