Shhh im waiting to see if he answers because maybe then we will find out how “poor” he really is vs his lies about his wealth. Away with your facts and reasons!
🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
Former President Donald Trump has not been able to get a bond to secure the $464 million fraud judgment against him, his lawyers said in a court filing Monday.
Trump and his company need to post a bond for the full amount by next week in order to stop New York Attorney General Letitia James from being able to collect while he appeals.
Their efforts, including “countless hours negotiating with one of the largest insurance companies in the world,” have proven that “obtaining an appeal bond in the full amount” of the Judgment “is not possible under the circumstances presented,” the filing said.
"Defendants’ real estate holdings — including iconic properties like 40 Wall Street, Doral Miami, and Mar-a-Lago, — greatly exceed the amount of the judgment.
Such assets are impossible to secrete or dispose of surreptitiously, leaving the plaintiff effectively secured during the pendency of an appeal," the filing said.
Trump’s team also argued the $464 million penalty is “grossly disproportional” and cited the argument they made throughout the months-long trial that “there are no victims, as there were no damages and no financial losses.”
They filed an affidavit from an insurance broker saying it is “not possible” to find a bond that big. The broker was an expert witness for Trump during the trial.
The trial judge already noted in his decision that this broker was a “close personal friend” of Trump’s and had a financial interest in the outcome. A decision could come from the appeals court later this week.
I’m sure the judge will give the broker’s opinion all the deference it’s due. /s
Bail is something you post to keep you out of jail you’re already going to, it’s not debtor’s prison. And we do it all the time; when people can’t post bail, they continue on to jail.
In this case the bond is because he’s appealing a civil judgement that’s been reached. This is different from a bail bond. He’s not at risk of jail over this unless he gets in contempt of court.
Trump isn’t personally owner of any of his buildings? They are owned by the companies he has stock in. Plus the buildings aren’t worth as much as those companies claim (let alone in a forced auction situation), which is another set of legal trouble Trump is facing right now.
But no doubt those buildings aren’t actually owned by the Trump organizations, but instead owned by banks like Deutsche Bank, because Trump used them for his fraude schemes (allegedly).
Or would Trumps stock be converted into money somehow?
The Trump org owns buildings, and the Trump org is liable for the judgment.
Basically they’re going to seize and auction a bunch of buildings with his name on them, and when their auction values come up short, seize some more. Then when they run out, Trump org declares bankruptcy for the 4th time.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !politics@beehaw.org
In-depth political discussion from around the world; if it’s a political happening, you can post it here.
Guidelines for submissions:
Where possible, post the original source of information.
If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.
These guidelines will be enforced on a know-it-when-I-see-it basis.
Why would a billionaire need a bond? Could he be lying about his wealth?
I mean, there are trivial reasons for this. If I own a $1.2m home and have $100,000 in the bank, I’m a millionaire who couldn’t post a $250,000 bond.
Shhh im waiting to see if he answers because maybe then we will find out how “poor” he really is vs his lies about his wealth. Away with your facts and reasons!
I’ve actually been thinking about this. If the RNC ends up paying his legal bills, wouldn’t that qualify as income, that he has to pay taxes on?
🤖 I’m a bot that provides automatic summaries for articles:
Click here to see the summary
Former President Donald Trump has not been able to get a bond to secure the $464 million fraud judgment against him, his lawyers said in a court filing Monday.
Trump and his company need to post a bond for the full amount by next week in order to stop New York Attorney General Letitia James from being able to collect while he appeals.
Their efforts, including “countless hours negotiating with one of the largest insurance companies in the world,” have proven that “obtaining an appeal bond in the full amount” of the Judgment “is not possible under the circumstances presented,” the filing said.
"Defendants’ real estate holdings — including iconic properties like 40 Wall Street, Doral Miami, and Mar-a-Lago, — greatly exceed the amount of the judgment.
Such assets are impossible to secrete or dispose of surreptitiously, leaving the plaintiff effectively secured during the pendency of an appeal," the filing said.
Trump’s team also argued the $464 million penalty is “grossly disproportional” and cited the argument they made throughout the months-long trial that “there are no victims, as there were no damages and no financial losses.”
Saved 61% of original text.
Lmao, from an NPR article on the same topic:
I’m sure the judge will give the broker’s opinion all the deference it’s due. /s
Sounds like somebody needs their ass behind bars, then.
We don’t do debtors prisons. They’ll start seizing and auctioning properties.
Bail is something you post to keep you out of jail you’re already going to, it’s not debtor’s prison. And we do it all the time; when people can’t post bail, they continue on to jail.
In this case the bond is because he’s appealing a civil judgement that’s been reached. This is different from a bail bond. He’s not at risk of jail over this unless he gets in contempt of court.
Which should have happened several times over.
But how does this work exactly?
Trump isn’t personally owner of any of his buildings? They are owned by the companies he has stock in. Plus the buildings aren’t worth as much as those companies claim (let alone in a forced auction situation), which is another set of legal trouble Trump is facing right now. But no doubt those buildings aren’t actually owned by the Trump organizations, but instead owned by banks like Deutsche Bank, because Trump used them for his fraude schemes (allegedly). Or would Trumps stock be converted into money somehow?
Anybody got any idea on how this works in detail?
The Trump org owns buildings, and the Trump org is liable for the judgment.
Basically they’re going to seize and auction a bunch of buildings with his name on them, and when their auction values come up short, seize some more. Then when they run out, Trump org declares bankruptcy for the 4th time.
Wasn’t Trump the individual named as being liable as well as the Trump organizations?
Of my client’s entire history dealing with others
Now there’s a fucking surprise. What a fraud.
Then let’s start liquidating assets.
Let there be liquidate!
deleted by creator
Didn’t the judge specify that funds couldn’t come from political party or campaign funds?
Or was that a different one of the cases he has been found guilty in?
deleted by creator
He already has RNCs money and needs it for legal fees. Why blow precious spare cash paying debts?
deleted by creator
deleted by creator
Lol everyone knows a Trump never pays their debts