Last month New York Attorney General Letticia James threatened to seize Trump Organization real estate assets, if Donald Trump did not satisfy the $350 million judgment for his fraud conviction [click here if you missed that].
Now Trump's legal team has informed the court that he cannot come up with the $450 million bond required to launch his appeal...
From The Daily Mail
Donald Trump's lawyers told a New York appellate court Monday that it's impossible for him to post a bond covering the full amount of his $454 million civil fraud judgment while he appeals.
The former president's lawyers wrote in a court filing that 'obtaining an appeal bond in the full amount' of the judgment 'is not possible under the circumstances presented.'
They revealed they had spoken to 30 underwriters to back the bond, which is due next week. Their efforts included 'countless hours of negotiating with one of the biggest insurance companies in the world'.
With interest, Trump owes $456.8 million. In all, he and co-defendants including his company and top executives owe $467.3 million. To obtain a bond, they would be required to post collateral worth $557 million, Trump's lawyers said.
'Defendants' ongoing diligent efforts have proven that a bond in the judgment's full amount is 'a practical impossibility,'' the filing said. 'These diligent efforts have included approaching about 30 surety companies through 4 separate brokers.'
The development comes days after Trump was able to post a $91.6 million bond in the E. Jean Carroll defamation following a jury award he is also appealing.
The filing suggests that Trump's empire of real estate and golf properties leaves him insufficiently liquid to meet the massive judgements against him.
Multiple bond companies decline to 'accept hard assets such as real estate as collateral,' they noted, and will 'will only accept cash or cash equivalents (such as marketable securities).'
The firms would likely charge 18 per cent up front, another staggering sum and one Trump would not be able to get back even if he prevailed on appeal.
Trump testified during the fraud case that he had $400 million in cash.
26 comments:
Cheeto down…10/11 Cheeto is broke and down. Now you see why he is so desperate to win the presidency back. Meanwhile Ivanka and her Con Artist husband got over 2 billion before he left office, she better help her obese daddy out. MAGNA need 5 jobs to pay this for him🤣🤣🤣 HE DON’T GOT IT AND NEVER HAD IT. FAKE BILLIONAIRE 🤣🤣🤣🤣
IDGAF *in the words of 50cent* the court wants their money by Friday 🤨
Never was a billionaire, always a con man and a liar.
Gotcha! And New York Attorney General, Letitia James, got him where it hurts. Let's see MAGA come through on this. Let's see who'll dig deep into their pockets to save Trump.
This will be fun.
Clown
He's a fraud and always has been. A slum Lord and a pathological liar
Get him sister LaTisha James. Throw his broke Cheeto Lay @ss in the jail. Let Tyron take care of him ruff-um up style.
Waxed by Biden?!🤣
It’s gon hurt y’all soul when Trump win!
See you in November.
Let’s see how many of them is willing to sell their trailer homes. 🤣🤣🤣🤣
@5:19 You are wasting time on this blog, you need to be either at the bank making withdrawal From your checking and savings to save your orange master, or searching the classifieds for a fifth and sixth job, because the fake billionaire ain’t got it🤣🤣🤣🤣He stays making a fool out of Magna …daily 🤣🤣🤣🤣🍿🤡
How is this crook allowed to run for presidency boggles my mind.
…and snitch! It’s always when I’m actually working you want to make appearances! What did I miss? The troll is Rock? I’m so behind. I did not catch a break at all today. If I did not need my job I’d be one of those teachers airing out all the craziness that goes down in the system. Smh
@ 6:38 PM… you need to be making funeral arrangements for Massa Biden & get back to the field before he find out you can read! 👩🏿🌾🏚️👨🏿🌾
I’m always searching for multiply sources of income… thanks for the tip 🤡
This clown 🤡 is a real life clown that thinks he’s above the law
Dump is broke.
I see all the democrats in the comment section got deep pockets.
@7:23 considering Biden is ONLY 3 years older than trump they both are crypt keepers. Trump is forgetting words in his speech and forgetting time as well. He couldn’t even read the teleprompter in his last debacle. Regardless…Still doesn’t change the fact that Don the Con is BROKE. All his buildings are leveraged and have liens on them so the banks won’t even consider giving loans on them. Don’t worry though he has enough money to buy himself a beautiful cheeseburger🤣🤣🤣🤣 Blacks for Trump still shucking and jiving all the while Magna kicked them out of the chat room just for being Black is still is hilarious. Just Slaves still working in a field even though they could be free. Magna don’t want you, just your vote and then you can go kick rocks, and they have been very clear on that when they put you out 🤣 🤣🤣🤣
GOOD!! Old bloated b!tch.
@5:27 Trailer parks & flannel shirts with truckers hats, and rotten teeth with a dog name “Duke”
Trump said he likes the poor and uneducated probably because it’s easier to hustle them out of money.🤔
@ 8:02 PM & 9:41 PM… To be honest, everything you said pretty much describes democratic voters.
And Trump couldn’t read the teleprompter because it didn’t work! Quit watching click bait clips & watch the whole rally.
If you ever made a significant amount of money from stocks or crypto then you’d understand why we want Trump back!
By the way, what policies of massa biden do you like? And please don’t hit the google search. 😉
@9:58 Don’t shoot the messenger, you love Trump so much put up the money. I don’t have a dog in this fight, Trump & Biden ain’t shyt.
@10:21 Oh! Please 🙏🏾 do not argue with poster 9:58 they probably graduated from Trump University, oops I forgot that was another scam he pulled.
@9:58 🛑 arguing with us & get out there and start selling bottle water & candy bars to help Trump with that bond. 😂😂😂😂😂😂😂
@10:26 Don’t for the scam he pulled with the children’s charity and the $2 million fine Trump got for stealing money that was supposed to go the veterans. Lt.Orange BoneSpurs draft dogger has been a grifter all of his life, even his own mama said "what sort of son have I created". 💁🏽♀️ Even she knew he was a grifter way back then. 9:58 maybe you could ask the Girl Scouts for some of their leftover cookies to sell, I hear thin mints are popular.
Demented Donnie s supporters are as delusional as he is.
I'm amazed that some of us are still stuck on being a Coon after being physically free for 152 yrs. The brain is still in chains. And what's really astonishing to me, is how we are proud of it by not hearing the truth from a man that lies in your face and you still believe him.
I have learned in my lifetime, if the talk doesn't match the walk, then the person is a liar.
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