Advertisement
Trump Offers $100 Million Bond on $454 Million Judgment
Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million penalty he faces in his civil fraud case, a clear sign that the former president lacks the money to cover the full amount.
Menu
Front Page Breaking News Comments Flagged Comments Recently Flagged User Blogs Write a Blog Entry Create a Poll Edit Account Weekly Digest Stats Page RSS Feed Back Page
Subscriptions
Read the Retort using RSS.
RSS Feed
Author Info
qcp
Joined 2007/07/05Visited 2024/04/30
Status: user
MORE STORIES
DEA will move to reclassify marijuana in a historic shift (4 comments) ...
Cruz Wants Airlines 2 Keep Your $ if They Cancel Your Flight (4 comments) ...
Smartless podcast "3 Presidents" (0 comments) ...
Marshal killed, numerous officers hurt in Charlotte Shooting (20 comments) ...
Sanders: Bibi attacking campus protests to deflect criticism (1 comments) ...
Alternate links: Google News | Twitter
Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.
More: In seeking relief, Mr. Trump's lawyers disclosed that they would be unable to secure a bond for the full amount, raising the prospect that he might soon default on the judgment if the appeals court denies his request.
"The exorbitant and punitive amount of the judgment coupled with an unlawful and unconstitutional blanket prohibition on lending transactions would make it impossible to secure and post a complete bond," the lawyers wrote.
Posting bond for the full amount would prevent the New York attorney general's office, which brought the fraud suit, from collecting the judgment until Mr. Trump's appeal is resolved. The attorney general, Letitia James, built her case on the accusation that Mr. Trump had fraudulently inflated his net worth by as much as $2 billion.
Unless the appeals court accepts the $100 million bond or grants Mr. Trump additional time, the attorney general can collect at any moment. Under New York law, Ms. James, can seize Mr. Trump's bank accounts and potentially take control of his New York properties.
#1 | Posted by qcp at 2024-02-28 01:10 PM | Reply
Wait... Trumpers think he's a Kazillionaire!
Sure hope this doesn't hurt his Brand, lol.
#2 | Posted by Corky at 2024-02-28 01:23 PM | Reply | Funny: 1
With all the cash dotard has leeched from the deplorables $450 million should be a walk in the park.
#3 | Posted by reinheitsgebot at 2024-02-28 02:33 PM | Reply
$100 million.
He probably had to shake all the change out of his gaudy Trump plane to make it.
Quick MAGA morons, Trump the "billionaire" needs your money!
#4 | Posted by jpw at 2024-02-28 05:02 PM | Reply
It's time for Putin's butt ---- to raid some more cancer charities.
#5 | Posted by reinheitsgebot at 2024-02-28 09:38 PM | Reply
Meanwhile, #4 relies on public assistance to feed himself while making fun of someone who has $100,000,000 in cash.
Winner!
#6 | Posted by CommonCents816 at 2024-02-28 10:40 PM | Reply
#5, it's interesting that when President Butt ---- Trump was in office, Putin didn't invade a sovereign country. No, he waited for the weak limp wristed liberal administration before starting war.
Now Iran is launching attacks on our troops under President White Liberal. During the Trump administration we lasered a key general and they did not respond whatsoever.
Go take your anti-psychotics you piece of trash!
#7 | Posted by CommonCents816 at 2024-02-28 10:45 PM | Reply
#7 | POSTED BY COMMONCENTS816
It's sad that people like this believe this is how the real world works.
#8 | Posted by memyselfini at 2024-02-28 11:42 PM | Reply
#7
Your child-raping hero hid in a bunker when Putin placed bounties on the heads of American troops in Afghanistan. After that Putin's butt ---- surrendered 3 American military bases to the Russians.
#9 | Posted by reinheitsgebot at 2024-02-29 12:04 AM | Reply
#9 - You're retarded.
#10 | Posted by CommonCents816 at 2024-02-29 12:38 AM | Reply
#10 You're a drooling --------.
#11 | Posted by reinheitsgebot at 2024-02-29 12:43 AM | Reply
It is beyond stupid to play the history-time-machine game where one event happens (or not) because of some figurehead. The world does not care about some american tough-guy. Side question: who negotiated with the Taliban?
#12 | Posted by Brennnn at 2024-02-29 02:45 AM | Reply
Trump thinks he can 'negotiate a settlement'. That is not how court orders work...
Good luck with that President Dumpster Fire...
The clock is ticking on a N.Y. Real Estate Sale and Repo event in less than 30 days...
#13 | Posted by earthmuse at 2024-02-29 07:08 AM | Reply
The appeals court already ruled on this and basically called Trump''s bluff. The gist of his motion was that the judgment precludes him from borrowing to secure the bond because it removes him from control of the business. The appeals court said - enforcement of judgment will be not stayed; EXCEPT as to those portions that remove him from control of the business. Naturally he will come up with another excuse now, because he is actually just not that rich.
#14 | Posted by JOE at 2024-02-29 07:29 AM | Reply
Trump has three more weeks and a few cabinet positions he can sell ~ if some billionaire thinks it's worth the risk.
You never know. On a different scale, a half billion dollars might not be too much to pay for an influential cabinet position . . . or an advisor/shadow president.
I wonder if Trump has Elon Musk's phone number?
#15 | Posted by Twinpac at 2024-02-29 08:29 AM | Reply
Trump: worst negotiator ever... --New York judges and Vladimir Putin
#16 | Posted by catdog at 2024-02-29 09:02 AM | Reply
He sounds poor
#17 | Posted by 2020Rocks at 2024-02-29 09:02 AM | Reply
Meanwhile, #4 relies on public assistance to feed himself while making fun of someone who has $100,000,000 in cash. Winner!
#6 | POSTED BY COMMONCENTS816
A Bond is not cash, you ignorant twit.
#18 | Posted by Sycophant at 2024-02-29 10:12 AM | Reply
Side question: who negotiated with the Taliban?
#12 | POSTED BY BRENNNN
Not Trump.
He just gave them everything they wanted and walked away.
#19 | Posted by Sycophant at 2024-02-29 10:13 AM | Reply
The amount of the penalty is absurd. The governor knows it which is why she made it very clear to other nervous business owners that this type of penalty is exclusive to Trump, all but admitting that such an egregiously excessive penalty is political warfare.
#20 | Posted by BellRinger at 2024-02-29 12:06 PM | Reply
#20 | POSTED BY BELLRINGER
No, it's not. The actual disgorgement penalty is only about $350 million. This accounts for illegal gains made by Trump from the fraudulent activities.
You don't get to keep the profits from you illegal enterprise. WHY would you think otherwise?
#21 | Posted by Sycophant at 2024-02-29 12:11 PM | Reply
@#20 ... The governor knows it which is why she made it very clear to other nervous business owners that this type of penalty is exclusive to Trump, ...
If she actually said that, it was likely because Trump Inc's behavior was unprecedented. Probably similar to the unprecedented aspect of having a fmr US President facing 91 counts.
... all but admitting that such an egregiously excessive penalty is political warfare. ...
Or actually confirming that Trump Inc's behavior was so egregious that it is unprecedented?
#22 | Posted by LampLighter at 2024-02-29 12:18 PM | Reply
The amount of the penalty is absurd.
Is it? What is your background in NY Exec. Law 63(12) penalties? I assume you have familiarity with the topic otherwise how could you criticize the penalty?
Anyways, if Trump is actually worth the $9B he claims he is, then this judgment would be the equivalent of a $3,900 fine to someone with a net worth of $100k. I think he can manage, unless he's a lying POS.
#23 | Posted by JOE at 2024-02-29 12:21 PM | Reply | Newsworthy 2
"The amount of the penalty is absurd."
Because the amount of the fraud was absurd. You know...Actual Math.
Tell me: if the IRS finds you owed $10,000 ten years ago because of fraud (which DOESN'T have a statute of limitations)...
...Do they add interest? Should they?
Or do you want two tiers of justice?
#24 | Posted by Danforth at 2024-02-29 12:36 PM | Reply
@#23 ... NY Exec. Law 63(12) penalties ...
It will be interesting to see how the appeal process goes.
From what I heard, he is appealing the fraud conviction specifically, and not the fine.
#25 | Posted by LampLighter at 2024-02-29 12:37 PM | Reply
Is this supposed to be a legal argument?
#26 | Posted by snoofy at 2024-02-29 12:38 PM | Reply
The amount of the penalty is absurd. Is it? What is your background in NY Exec. Law 63(12) penalties? I assume you have familiarity with the topic otherwise how could you criticize the penalty? Anyways, if Trump is actually worth the $9B he claims he is, then this judgment would be the equivalent of a $3,900 fine to someone with a net worth of $100k. I think he can manage, unless he's a lying POS.
#23 | POSTED BY JOE
It's not even a Penalty. It's disgorgement.
#27 | Posted by Sycophant at 2024-02-29 12:51 PM | Reply
This thread will be yet another example of what i am now deeming Joe's Law - when you ask conservatives to back up their ridiculous opinions, they simply disappear.
#28 | Posted by JOE at 2024-02-29 02:37 PM | Reply
"Unless the appeals court accepts the $100 million bond or grants Mr. Trump additional time, the attorney general can collect at any moment. Under New York law, Ms. James, can seize Mr. Trump's bank accounts and potentially take control of his New York properties."
Is the appeals court likely to accept this or reject it and start taking control of his properties?
I assume the court is worried about being accused of it all being partisan?
grow a spine and start taking his stuff.
#29 | Posted by eberly at 2024-02-29 03:03 PM | Reply
They already ruled. Basically enforcement of the judgment is not stayed, bond remains at the full judgment amount, but the provisions of the judgment that prevent Trump from running the business or obtaining bank loans are stayed because Trump's lawyers claimed this was preventing him from securing a bond.
#30 | Posted by JOE at 2024-02-29 03:48 PM | Reply
I believe Eberly, that the judge gave Mr. Trump 30 days from the last court date (as a curtesy) to get his affairs in order and to come up with the money. About a week of that time has passed. So Trump has 3 weeks to come up with the remainder, or to watch as his buildings and other assets are seized, repoed, auctioned off to cover his debts.
#31 | Posted by earthmuse at 2024-02-29 09:46 PM | Reply
"The Art of the Squeal"
#32 | Posted by LegallyYourDead at 2024-02-29 10:39 PM | Reply
@#29 ... Is the appeals court likely to accept this or reject it and start taking control of his properties? ...
My guess would be that the court will follow the law and not accept the offer.
#33 | Posted by LampLighter at 2024-02-29 10:46 PM | Reply
@#30 ... They already ruled. Basically enforcement of the judgment is not stayed, bond remains at the full judgment amount, but the provisions of the judgment that prevent Trump from running the business or obtaining bank loans are stayed because Trump's lawyers claimed this was preventing him from securing a bond. ...
Sounds reasonable.
The court decided in favor of the citizens of NY receiving the money due to them.
Of course, now the conversation pivots to how the self-acclaimed multi-billionaire Trump will put up the funds for the ruling.
He shouldn't have any difficulties in that area.
Oh wait....
Fmr Pres trump seems to be saying something different now...
#34 | Posted by LampLighter at 2024-02-29 10:50 PM | Reply
They will never see a dime so long as Lewzer sucks air.
#35 | Posted by REDIAL at 2024-02-29 11:11 PM | Reply
I believe you'd be wrong on that Redial. Tough to hide and move skyscrapers in NYC. And court orders have more weight than 'words from the orange would be emperor with the tiny tiny hands'...
Trump will watch as some of his most prized buildings are stripped from his ownership.
Melania must have such Buyer's Remorse right now with Trump. If only she had divorced him sooner, rather than wait, she could have gotten in on the cash feeding frenzy that is about to go down.
#36 | Posted by earthmuse at 2024-03-01 06:40 AM | Reply
A billionaire does not need to beg for donations.
It is illogical.
#35 | Posted by REDIAL at 2024-02-29 11:11 PM | Reply | Flag:
AG James is queuing up the asset forfeiture documents.
#37 | Posted by Nixon at 2024-03-01 11:22 AM | Reply
We are about to see how much Trumpy really inflated the value of his properties now that he may have to sell them for actual market prices.
The Trump Organization owns or invests in multiple office towers from New York to San Francisco. One of its key Manhattan properties, 40 Wall St., was purchased by Trump in what his business hails as "one of the great real estate deals of all time" back in 1995. In 2015, it was valued at $540 million, according to commercial mortgage-backed securities data. That has since fallen to $270 million, the Bloomberg Billionaires Index estimates.
#38 | Posted by donnerboy at 2024-03-01 11:38 AM | Reply
Which Lewzer will challenge, and appeal, and delay in any way his lawyers can dream up. He's been doing it for over 40 years now.
#39 | Posted by REDIAL at 2024-03-01 11:53 AM | Reply
Trump Is Broke as Heck and Completely "Embarrassed" by It The former president is struggling to pay his New York civil fraud fine Donald Trump has had to admit that he can't afford his legal comeuppance"a punishment that might have been even worse for the self-proclaimed billionaire than the actual $454 million penalty in his New York civil fraud trial. newrepublic.com
The former president is struggling to pay his New York civil fraud fine
Donald Trump has had to admit that he can't afford his legal comeuppance"a punishment that might have been even worse for the self-proclaimed billionaire than the actual $454 million penalty in his New York civil fraud trial.
newrepublic.com
#40 | Posted by AMERICANUNITY at 2024-03-01 01:17 PM | Reply
Trump Is Broke as Heck and Completely "Embarrassed" by It
I wonder how long before he starts berating his cult followers for being such cheapskates?
#41 | Posted by REDIAL at 2024-03-01 02:39 PM | Reply
#41 | Posted by REDIAL
He's like that late TV preacher, Gene Scott, who'd berate and call his congregation "pissants"
Eugene Scott - the craziest preacher you've never heard of www.youtube.com
#42 | Posted by AMERICANUNITY at 2024-03-01 05:53 PM | Reply
What bank, registered in New York State or not, is going to loan Trump that amount of money without collateral, especially based on the outcome of a dubious appeal?
I don't think even Crown Prince Mohammad bin Salman would go for that deal.
As I said before, Trump has to sell an intangible, like the promise of a cabinet position for example . . . if he can find a billionaire willing to take the risk within the next 20 days.
Trump isn't going to completely broke. He still has a few golf courses that aren't subject to seizure.
But then, "broke" is subjective, isn't it.
#43 | Posted by Twinpac at 2024-03-01 07:18 PM | Reply
Back in his Atlantic City casino bankruptcy days Lewzer said there was a big difference between being broke and being poor.
#44 | Posted by REDIAL at 2024-03-01 07:29 PM | Reply
Post a commentComments are closed for this entry.Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2024 World Readable
Comments are closed for this entry.
Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2024 World Readable
