I wasn't trying to step on any toes, but it happens. No harm intended.
And I don't doubt that a skilled individual might very well have been able to dig out of that. But clearly, that's not what they were dealing with.
TRUMP INDICTED! TRUMP CONVICTED! GUILTY ON ALL CHARGES! ... and more convictions yet to come!!!
- Thread starter CoTtOnMoUf
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And I don't doubt that a skilled individual might very well have been able to dig out of that. But clearly, that's not what they were dealing with.
So what nothing will happen as usual
Trump Says He Might Have to Sell Properties to Pay $454 Million Penalty
The ex-president, who is appealing the penalty in his civil fraud case, offered a bond of only $100 million to pause the judgment.
By Ben Protess and Kate Christobek
Feb. 28, 2024
www.nytimes.com
Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.
It was a stunning acknowledgment that Mr. Trump, who is racing the clock to either secure a bond from a company or produce the full amount himself, lacks the resources to do so. Without a bond, the New York attorney general’s office, which brought the fraud case, could seek to collect from Mr. Trump at any moment.
Mr. Trump’s lawyers also asked the court to delay a wide range of other punishments the judge in the fraud case levied in his decision earlier this month. They include a prohibition on obtaining a loan from a New York bank for three years and a ban on running a company in the state during that same period.
One appellate court judge was hearing the request from Mr. Trump on Wednesday afternoon and was expected to issue a decision shortly after. If the judge were to grant the pause, it would be only temporary; Mr. Trump would still have to persuade a larger panel of appellate judges to keep the judgment on hold.
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. Without a stay, Mr. Trump’s lawyers warned, he likely would have to sell some of his New York properties “under exigent circumstances,” in what would be a punishing blow to the former president.
“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 attorney general, Letitia James, from collecting the judgment until Mr. Trump’s appeal is resolved. Under New York law, Ms. James can seize Mr. Trump’s bank accounts and potentially take control of his New York properties.
Ms. James built her case on the accusation that Mr. Trump had fraudulently inflated his net worth by as much as $2 billion.
Mr. Trump’s net worth is largely derived from real estate, not cash. As of last year, he was sitting on more than $350 million in cash, as well as stocks and bonds he could sell in a hurry, according to a recent New York Times review of his financial records.
But the sum of the judgment in the civil fraud case and the $83.3 million judgment that Mr. Trump faces from a defamation trial involving the writer E. Jean Carroll far eclipses his stockpile of cash.
In its own filing, Ms. James’s office asked the appeals court to deny Mr. Trump’s request.
“There is no merit to defendants’ contention that a full bond or deposit is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount,” the attorney general’s office wrote. “Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment.”
This is a developing story and will be updated.
The ex-president, who is appealing the penalty in his civil fraud case, offered a bond of only $100 million to pause the judgment.
By Ben Protess and Kate Christobek
Feb. 28, 2024
Trump Says He Might Have to Sell Properties to Pay $454 Million Penalty
The ex-president, who is appealing the penalty in his civil fraud case, offered a bond of only $100 million to pause the 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 judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.
It was a stunning acknowledgment that Mr. Trump, who is racing the clock to either secure a bond from a company or produce the full amount himself, lacks the resources to do so. Without a bond, the New York attorney general’s office, which brought the fraud case, could seek to collect from Mr. Trump at any moment.
Mr. Trump’s lawyers also asked the court to delay a wide range of other punishments the judge in the fraud case levied in his decision earlier this month. They include a prohibition on obtaining a loan from a New York bank for three years and a ban on running a company in the state during that same period.
One appellate court judge was hearing the request from Mr. Trump on Wednesday afternoon and was expected to issue a decision shortly after. If the judge were to grant the pause, it would be only temporary; Mr. Trump would still have to persuade a larger panel of appellate judges to keep the judgment on hold.
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. Without a stay, Mr. Trump’s lawyers warned, he likely would have to sell some of his New York properties “under exigent circumstances,” in what would be a punishing blow to the former president.
“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 attorney general, Letitia James, from collecting the judgment until Mr. Trump’s appeal is resolved. Under New York law, Ms. James can seize Mr. Trump’s bank accounts and potentially take control of his New York properties.
Ms. James built her case on the accusation that Mr. Trump had fraudulently inflated his net worth by as much as $2 billion.
Mr. Trump’s net worth is largely derived from real estate, not cash. As of last year, he was sitting on more than $350 million in cash, as well as stocks and bonds he could sell in a hurry, according to a recent New York Times review of his financial records.
But the sum of the judgment in the civil fraud case and the $83.3 million judgment that Mr. Trump faces from a defamation trial involving the writer E. Jean Carroll far eclipses his stockpile of cash.
In its own filing, Ms. James’s office asked the appeals court to deny Mr. Trump’s request.
“There is no merit to defendants’ contention that a full bond or deposit is unnecessary because they are willing to post a partial undertaking of less than a quarter of the judgment amount,” the attorney general’s office wrote. “Defendants all but concede that Mr. Trump has insufficient liquid assets to satisfy the judgment.”
This is a developing story and will be updated.
At least they slightly expedited, but this is very interesting timing. I think some on the Supreme Court are trying to by Trump sometime. Republicans seriously need to look their selves in the mirror because doing these primaries he is under performing. Even with some of the uncommitted shenanigans in Michigan Biden still overperformed
delay delay delay
Exactly but at least they are starting the trial in April. They really cannot grant him immunity, especially criminally that that can’t happen because that’s going to throw everyone out of whack. Trump is using the Supreme Court as a traffic court at this point. He still owe New York a lot of money though.
He’s untouchable. The fact the SCOTUS is even entertaining this is a fucking joke.
I been telling yall there’s going to be a severe overthrow of the government if he “loses” Jan 6 was a test run. It will be a full fledged violent takeover . The media thinks this is cute and funny and not serious but there’s going to be complete chaos if he’s allowed to keep running and eventually win
As someone told me a few minutes ago, delay delay delay. This is also why his lawyers are going hard after Fanny Willis in Georgia…. New York got to his ass, especially with the money he owes. Republicans you guys need to put a stop to this because this is not going to end well for you guys. Especially now you got turtle man with 1 foot out of the Senate.
They popped one woman and all them pussies went home. They not about that life. He better get a better crew.
He could do both. Because if he indicted the lower peoples, that’s going to put more heat on the Supreme Court and Trump. You seen what Mrs. Willis did in Atlanta with those fake electors.
From looking at the primary Donald is going to lose and he’s going to lose big because a good percentage of Republicans don’t want nothing to do with homeboy some of them rather vote for Biden. Oh in the US military is going to be waiting on those motherfuckers again if they was to try something dumb. And this time they will make it an example out of a few people.
Remember a couple weeks ago Jack Smith and I think some people of the DOJ approached Canon and all of a sudden she starting to play ball.
I don’t believe that’s all of them. They have the ones willing to die for that faggot. Also it doesn’t matter if he “loses big” it doesn’t matter at all. He will say it’s rigged again and it will be a take over. You see how many capitol police and secret service allowed them to just walk in? They in on it too