Donald Trump Forced to Reveal His Finances to Save His Properties

[Social Media]

 

The latest developments in Donald Trump's legal saga reveal that documents for his $175 million bond in his New York civil fraud case were rejected by the court due to missing information, including a current financial statement.

 

The rejection of Trump's bond filing comes after New York State Supreme Court Justice Arthur Engoron ruled against Trump and others associated with the Trump Organization in February. They were accused of inflating Trump's net worth and property values to obtain better loan and insurance terms.

 

Trump had originally been ordered to pay $454 million in damages, but an appeals court granted his request to lower the bond amount to $175 million. However, Trump's bond filing was returned by the court due to several reasons, including the absence of a current financial statement and a Power of Attorney. Additionally, the court requested the name of the Attorney-in-Fact to be listed under the signature line on the Undertaking.

 

Trump will need to provide the required information and resubmit the corrected filing for the bond to be accepted. This development underscores the ongoing legal challenges facing Trump and his efforts to protect his assets during the appeal process.

 

 

04.04.24

Source

 

[bendejo]

If he dies penny-less will Don Jr take a job as a Walmart greeter?

 

[Chomper Higgot]

Donny hiding the truth about his financial standing, where have we seen that before.

 

Hey Donny, are the auditors done yet?

 

[Tug]

He he he…….heres a thought if he lies is there a penalty?he he he…..

[Tug]

Just now, Tug said:

He he he…….heres a thought if he lies is there a penalty?he he he…..

Correction (when)he lies are there penalties?

[Danderman123]

The question is whether Trump will provide an accurate financial statement.

 

The Trump fans here will maintain that the banks, I mean the judge, should not believe his financial statement.

[Chelseafan]

Did he ever (as he promised) produce his tax returns?

 

 

[Eric Loh]

He don't even have $175 million cash? What kind of billionaire is he? 

[Chomper Higgot]

45 minutes ago, Danderman123 said:

The question is whether Trump will provide an accurate financial statement.

 

The Trump fans here will maintain that the banks, I mean the judge, should not believe his financial statement.

A bigger question is, has Trump himself provided the collateral for this bond or did that come from someone else and if from some else who?

[bamnutsak]

Well, trump attorney Alina Habba did say if given the choice between being pretty and smart, she'd choose the former.

 

https://www.independent.co.uk/news/world/americas/us-politics/alina-habba-trump-lawyer-court-b2481296.html

 

Sounds like she's pretty dumb.

 

Alina Habba, a lawyer for former President Trump, slammed a judge’s recent ruling in the former president’s New York civil fraud trial Friday.

 

“They will not get away with it,” Habba said on Fox News’s “Hannity.” “We will come at them, we will come hard, and we will literally fight until the truth comes out. There was nothing wrong. President Trump has done nothing wrong.”

 

https://thehill.com/regulation/court-battles/4474611-trump-lawyer-habba-ny-fraud-verdict-they-will-not-get-away-with-it/

 

 

14 minutes ago, Chomper Higgot said:

A bigger question is, has Trump himself provided the collateral for this bond or did that come from someone else and if from some else who?

 

Trump secured the bond through Knight Specialty Insurance Company.

 

 

 

 

[transam]

I wonder why McDonald's hasn't bailed him out, McTrump must have made them millions via his daily takeaway muncher fans...

[sirineou]

5 minutes ago, bamnutsak said:

Trump secured the bond through Knight Specialty Insurance Company.

Appropriately , a company that specialises in loans to people with bad credit. 

[bamnutsak]

4 minutes ago, transam said:

I wonder why McDonald's hasn't bailed him out, McTrump must have made them millions via his daily takeaway muncher fans...

 

https://www.youtube.com/watch?v=W4QNXnNftWk

 

[Chomper Higgot]

13 minutes ago, bamnutsak said:

 

Trump secured the bond through Knight Specialty Insurance Company.

 

 

Yes he did, but that tells us nothing about what securities Knight Speciality Insurance have received or from whom they received them.

 

 

[Danderman123]

Actually, the missing financial statement request is for the bond company, not Trump.

[jollyhangmon]

1 hour ago, Eric Loh said:

He don't even have $175 million cash? What kind of billionaire is he? 

 

... hehe, exactly that ... cause if that's the criterion I'm a freakin' billionaire as well, 555 ...

 

[jerrymahoney]

42 minutes ago, Danderman123 said:

Actually, the missing financial statement request is for the bond company, not Trump.

No other newsgroup like NY Times or WashPo or CNN  is running with that Newsweek story as in the OP so far.

[Walker88]

3 minutes ago, jerrymahoney said:

No other newsgroup like NY Times or WashPo or CNN  is running with that Newsweek story as in the OP so far.

I guess one place to look for corroboration would be on Truth (sic) Social and see if "anyone" has posted an all-cap screed with UNFAIR! or DERANGED!.

 

That would be a tell.

[bamnutsak]

 

Some are saying it is the bond backer, Knight Specialty Insurance, that needs to disclose/provide additional information. Maybe this firm isn't used to dealing with courts?

 

I think Hankey refinanced trump tower, and also is in big on the trump social media hoax company. Hankery is definitely wealthier than trump

 

 

Who is Don Hankey, the billionaire whose insurance firm provided Trump a $175 million bond payment?

 

Former President Donald Trump and his co-defendants in his New York civil fraud case on Monday posted a bond of $175 million, following a judge's ruling that they had for years misrepresented the value of his properties. The bond is underwritten by an insurance company run by a billionaire, who got his start making high-risk, high-interest loans to car buyers with poor credit.

 

Don Hankey, the executive whose company provided the bond, is a little-known mogul who built his $7.4 billion fortune through car dealerships and providing subprime auto loans, according to Forbes magazine. That makes him richer than Trump, whom Forbes estimates is worth $6.4 billion, including his multibillion stake in the newly public Trump Media & Technology Group.

 

https://www.cbsnews.com/news/trump-don-hankey-billionaire-175-million-bond-who-is-he/

[jvs]

This will provide some clearance.

https://www.youtube.com/watch?v=8Tr_IuukTB8&t=456s

 

[scottiejohn]

7 hours ago, transam said:

I wonder why McDonald's hasn't bailed him out, McTrump must have made them millions via his daily takeaway muncher fans...

He probably "burgered" them by demanding  free supplies, advertising and funding!

[Will B Good]

7 hours ago, Chomper Higgot said:

A bigger question is, has Trump himself provided the collateral for this bond or did that come from someone else and if from some else who?

Someone might have answered already....but I read it was a car financier (second hand car dealer?)...said he was thrilled to be able to help.

[John Drake]

I'm so tired of hearing about Trump's antics. I can't take another four years of this (or Biden either). 

[0ffshore360]

Is the collateral for the loan the shares in Trump Media/ Truth Social ? The market price of those shares slumped badly last week and Trump is now also trying to eliminate the holdings of his original  co-backers. Perhaps that is to try and accumulate enough controlling shares to satisfy the loan criteria? Perhaps he has nothing else that has not already been hocked off to support his  bogus  "Front" ?

 

[jerrymahoney]

Is Trump's $175 million civil fraud bond valid in New York?

 

Updated on: April 4, 2024 / 4:18 PM EDT / CBS News 

 

New York Attorney General Letitia James indicated in a filing Thursday, after the original publication of this story, that she, too, has concerns about the bond.

 

Trump attorney Christopher Kise on Thursday alleged  James' filing was  "another witch hunt" and accused her office of "hiding out in silence" after an appellate court reduced the defendants' bond from more than $464 million to $175 million.

 

"The Attorney General now seeks to stir up some equally baseless public quarrel in a desperate effort to regain relevance," Kise said.

 

https://www.cbsnews.com/news/donald-trump-175-million-civil-fraud-bond-valid-new-york/

 

Letitia James questions insurance company that helped Trump cover $175 million bond

PUBLISHED: 20:11 BST, 4 April 2024 | UPDATED: 22:02 BST, 4 April 2024

 

James gave Trump's lawyers an additional 10 days to 'justify' the bond, as she seeks assurances that the firm is able to fulfil its obligation to back it up or pay if Trump defaults if he were to lose his court appeal.

 

Judge Arthur Engoron, who is overseeing the case, on Thursday afternoon set an April 24 hearing over the bond. 

 

Letitia James questions insurance company that helped Trump cover $175 million bond: New York AG gives ex-president's lawyers 10 days to prove firm is qualified to be involved in fraud case | Daily Mail Online

 

 

Edited April 4 by jerrymahoney

[Rimmer]

troll post has been removed

[herfiehandbag]

So, in layman's terms, has the cheque bounced?

 

If the bond does not meet the requirements of the court, where does that leave Trump?

[jerrymahoney]

When Trump needs cash, a California bank and one of its top shareholders have come to the rescue
Updated 3:42 AM GMT+7, April 5, 2024

But as Trump again pursues the White House, ethics and legal experts question what the lenders may ask in return if there’s a future Trump presidency, considering even small regulatory changes can translate into millions of dollars in earnings.

 

“There are multiple layers of questions about what is Hankey’s relationship to Trump and to others in Trump’s orbit,” said Norman Eisen, a former Obama “ethics czar” who is now senior fellow at the liberal-leaning Brookings Institution. “What are his interests? How might Trump favor his interests? How might others?”

 

https://apnews.com/article/trump-axos-bank-don-hankey-loans-ethics-37846dca8056962bee4973105e51e045
 

-- So now Trump has to raise a $175 million bond against a near $ half billion judgment, but there is sentiment that he must only do so in the manner of the old saying:

 

Caesar's wife must be above suspicion

 

Edited April 6 by jerrymahoney

[Danderman123]

If the bond financier does not have $175 million in liquid assets, then Trump may not be able to appeal.

 

We will learn more next week.

 

Meanwhile, the idea that Trump could use Truth Social stock for his bond is out the window.

Edited April 7 by Danderman123

[jerrymahoney]

1 hour ago, Danderman123 said:

We will learn more next week.

The final call on whether the Knight bond sinks or swims will be up to New York Supreme Court Justice Arthur Engoron, who has set April 22 for a hearing on the matter.

 

https://www.businessinsider.com/trump-175-million-appeal-bond-to-be-reviewed-ny-ag-2024-4

 

BTW Also from same source:

 

Trump just got a huge 62% discount on his bond. That's extremely rare, legal experts say.
 Mar 26, 2024, 3:56 AM GMT+7

 

Neil Pedersen, the owner of the surety-bond agency Pedersen & Sons, told Business Insider that in his company's 30-year history, he and his employees had handled thousands of bonds.

In that time, he's heard of only about a couple dozen instances when a New York appeals court reduced an appeal bond — and those involved far lower judgments.

 

"It's extremely rare," Pedersen said.

 

https://www.businessinsider.com/donald-trump-bond-reduction-civil-fraud-case-rare-legal-experts-2024-3

Edited April 7 by jerrymahoney