KEY POINTS
- Donald Trump should have pledged real estate to the courts if he were “truly unable” to secure a bond, the New York attorney general’s office said.
- Instead, Trump claimed it was “impossible” for him to get a bond using his properties, but did not provide any hard evidence for this, the AG’s office said.
Donald Trump should have pledged real estate he owns as collateral against a $464 million business fraud judgment if he were “truly unable” to secure an appeal bond for that amount, the New York attorney general’s office said in a court filing Wednesday.
Trump also failed to provide evidence supporting his claim this week that it was “impossible” to obtain an appeal bond by using the properties as collateral, a lawyer for AG Letitia James wrote.
“Defendants supply no documentary evidence that demonstrates precisely what real property they offered” to potential insurers," wrote Dennis Fan, senior solicitor general in the AG’s office, in the filing to Manhattan appeals court judges.
Nor did they report “on what terms that property was offered, or precisely why” bond insurers “were unwilling to accept the assets.”
Here’s the thing: Trump may have the right to appeal, but he doesn’t have the right to be able to afford the bond. And he if he can’t, there’s no damned reason for the court to give a shit, especially if he refuses to give any solid explanation as to why he both claim to be a “billionaire” while at the same time pleading poverty.
So, Donnie, pay the bond or the state gets to take your shit. End of story.
It’s really a catch 22 for him so he’s trying any and everything. He knows it will destroy him when he has to pay this. His empire is a hollow shell leveraged to the tits.
If when the state starts selling these properties they’re gonna have to sell them all and even then it won’t be enough so he’ll have any trump org royalties garnished too until kingdom come.
His only hope is to somehow delay until he’s president again (FML)
There’s pretty much zero possibility of that happening. And, for the record, there’s also almost no possibility of him winning this appeal, either.
I really hope they’re watching closely though. Imagine Russia or China or North Korea giving him the money…
The Chubb group (who financed the ~$90M bond in the E Jean Carrol case)? That company’s CEO is in charge of financing several Russian oil companies and a bunch of other shady shit. Oh, Trump already got a bunch of dirty money.
Thing is, that’s all they’re willing to give him, which may indicate that he’s run out of usefulness to them.
That’s a good sign! I’d really love to see his house of cards collapse.
Or they just want him to sweat a little.
It’s also notable that this law was meant to apply to organizations rather than individuals, who would presumably have the resources to put up the bond. This is the first time that a private individual did something big enough to get caught up in this.
lol, I didn’t know that. I appreciate you mentioning that Trump is actually such a big fucking liar that he made legal history for it.
And is now about to lose literally everything as a result, including, quite possibly, the election.
including, quite possibly, the election.
If I believed in a god, I would be praying or sacrificing or whatever I was supposed to do pretty much constantly until November to ensure that.
Believers can rest assured I don’t secretly believe in their gods, because if I was going to pray for anything, I’d pray for Trump to receive ultimate justice and humiliation.
rAmen
You noodle.
especially if he refuses to give any solid explanation as to why he both claim to be a “billionaire” while at the same time pleading poverty.
He’s not claiming poverty, he’s claiming that he will win on appeal, but his wealth is all locked up in real estate, and to make the bond in time he would have to quickly sell a lot of assets, and would likely get taken advantage of while doing so.
It doesnt matter and it doesn’t fit trumps typical braggadocios speech, which is why I have no idea why this constantly get misinterpreted.
It’s even more likely that his ownership stake in the real estate holdings has been mortgaged to the hilt and he actually doesn’t have any capital available at all. The most likely reality is that he’s going to have to declare bankruptcy, and is terrified of the public finding out.
It was also testified in a deposition (or similar that would be perjury for lying, maybe not by Trump I can’t recall) that he (or Trump org?) had 400million liquidity, so it shouldn’t be that big of an issue for him to come up with it. Even if he had to deal with the defamation bond. So he (or his lackey) told the courts that they could cover it, I mean a real estate billionaire down 100million should be able to come up with 150million (sorry if math is off, liquidity - defamation bond - tax-fraud bond difference) from non liquid assets without too much work right? I’m sure some bond company would cover it with proper collateral anyways. Hah. These are the chickens coming to roost you orange turd.
That $400 million is, apparently, “operating capital” intended to keep all of his business ventures working, and, without it, everything would cease to function. Which is plausible.
But who really gives a fuck? Certainly not the courts, nor should they. Also, he may not even have that left after getting that ~$90m bond for the E Jean Carrol case (another reason this judge isn’t listening to Trump’s cries for mercy). That bond probably cost twice that after all the fees.
He’s so superfucked.
I bet Nikki is excited.
I honestly don’t think it MATTERS anymore. He could go on and tell the camera, dead on, that “I lied about every last bit of money I own, I lied about how I made that money, I lied about every single thing I ever said.” His cult has a momentum of its own now, it’s arguably far beyond his control - even if he did manage to go up and read off every single lie and WHY it’s a lie, it wouldn’t matter, because his followers would just go “well he was FORCED to say that” or somesuch and that reality would be accepted as gospel. Cults, especially cults of personality, have a nasty habit of gathering momentum far exceeding the object of worship.
“It’s a code, he’s trying to tell us the election was stolen with fraudulent ballots.”
The cult loves having their persecution complex by proxy through Donald. He will say “they are coming after you” and “I am the only one standing in their way.” But, you know, with the weird meandering asides and the accordion hands.
“I only paused my campaign.”
Yeah I’m not speaking to what the truth of the matter, only what he’s claiming. It would be surprising to me that he has nowhere to go for the money, as you say.
It’s just mind numbing to come into every one of these threads and see this nearly exact misinterpretation of what he is saying.
Well, one thing plays into the other— he can’t get a bond because he’d have to put up collateral, and all of these bond companies know he’s up to his cotton-candy bouffant in debt, so all of his properties probably aren’t worth shit, or, at least not worth anything close to what he claims. After all, he was just found liable in this very case for lying for years about that very thing.
How everyone is missing the giant, Raiders of the Lost Ark-style boulder of irony about to crush Trump is what perplexes me.
I can quickly come up with some reasons why they might not want to put up the collateral that have nothing to do with his actual finances: like public backlash, being notorious for not paying back his debts, and being convicted of lying about how much stuff is worth (so not trustworthy in that regard).
It’s just none of this has anything to do with what he’s actually saying. Which is ultimately my point.
And we are both sitting here with our popcorn anxiously awaiting it to all come crashing down. It can’t happen soon enough, IMO.
Those are all other possibilities, I just don’t find them as likely IMO. But they could be. But, either way, my point is that - and I was more explicit about it in another comment - it doesn’t matter what he says, especially to the court. He has the right to appeal and the right to post a bond, but Trump has no right to be able to afford a bond, and if he can’t, tough shit.
And he’s got 4 1/2 days to beg, borrow, or steal it before the People of the State of New York come after his grifting ass.
If he has equity why couldn’t he mortgage it?
Frankly, if I were a mortgage lender, I might be a little hesitant to lend to a guy who is in trouble because he was defrauding real estate lenders.
The speculation is that due to him fraudulently over-valuing his properties (as just proven in court) to borrow more than they are worth against them, he likely has negative equity on those properties. Can’t borrow against equity if you’re underwater on all your mortgages.
I didn’t claim he had equity. I did nothing other than challenge the claim that he’s pleading poverty.
especially if he refuses to give any solid explanation as to why he both claim to be a “billionaire” while at the same time pleading poverty.
And doing so to the very court who already found him guilty of fraud.
They already know he’s a lying grifter. What reason do they have to believe him this time?
Out of the whole shitstorm surrounding orange man rn, this is the one I pin my hopes on to bring him to his knees first. 🤞
Would be hilarious if they confiscated and evicted him from Mar-a-Lago.
This is the only one he cares about. His identity is about to disintegrate.
It really has the possibility to not only hobble his campaign and his ego, but to also mentally unbalance him even further since he’s built his entire personality around being rich. He’s almost certainly in a situation where he will end up having to declare bankruptcy
Declare bankruptcy again*
This is different.
Trump’s companies have declared corporate bankruptcy, which gave them time to restructure.
But corporate bankruptcy won’t work this time, because Trump is personally on the hook. So he would have to declare personal bankruptcy.
And that’s a whole different process, where creditors get in line to take your belongings. Alex Jones and Rudy Giuliani are going through it, and Trump definitely does not want to.
He can’t get a bond against his properties because he’s over leveraged up the wazzooo on all of them.
That’s his whole financial shtick, he gets loans against his properties until they come calling for him to repay, then gets more loans somewhere else to pay of the old loans.
That worked for him for the longest time until western banks got wise of this (either because he stiffed them or because he’s still paying of his loans with them) and the only places he could lend from to repay the Western banks are questionable money sources.
So now he’s in debt with everyone from legit banks to dark money sources and can’t get anyone anywhere to lend him any more, especially not half a billion.
We can only hope a bunch of them start defaulting him on his loans and confiscating his properties, so that that whole house of cards starts crumbling down.
Well, it looks like the People of the State of New York are gonna be the first to the trough. Fuck those Russian gangster pricks and billionaire bankers alike. Let them eat ash.
Donald’s creditors are surely huge sacks of shit just like he is. Very delightful to hear they will be losing money when the state of New York claims the asset before they can.
Chubb (who financed Trump’s $100m bond for the E Jean Carrol case)? Yeah, their CEO manages their financing for Russian oil interests and other shady-ass shit. That money was dirty as fuck.
But that’s all he could get, even from them. Maybe Putin doesn’t see Trump worth it any more, lol.
Trump in court is like Sideshow Bob in a room full of rakes.
Not that I don’t believe you, but do you have links for the dark money bit? I realize they may not exist.
Hope he defaults on his loan to a cartel or something.
His son, the dumb one, said they get all the money they need for funding out of Russia. Who do you think orchestrates that funding?
the dumb one
You’ll have to be more specific.
The less coked up one
The one with Trump as his last name
Yeah, that seems like the mostly likely route to him actually experiencing consequences.
Maybe at some point, his best buddy will decide that he’s more useful as a Martyr, rather than having him slowly drag down his base as he falls. I can imagine some good headlines already “Orange guy murdered by secret cabal assassins. have Antifa Super-Soldiers returned?” 🙃
I think the useful idiot has been viewed as no longer useful.
Putin says Biden is predictable. Drumph is now over leveraged, probably always has been, but I’m not sure anyone realized just how much. You can’t use kompromat against him effectively if everyone has it.
I’m also sceptical of Alexander Smirnov and how he was burned. It just crumbled too smoothly, as if the operation was over, not that he was caught.
What happens when a regular person can’t get a bond appeal? They lose
He’s about to be grabbed by the real estate portfolio. Ouch.
Since he’s a crook, he lets them do it!
I’m going to keep posting this until I get sick of reveling in Trump’s legal troubles actual starting to have some consequences
Schadenfreude
4 1/2 more days
I hope to god he looses everything but the gold toilet cause his shit needs to be contained.
only total morons believe anything that comes out of that mouth
Well, a Ponzi scheme simply stops working at some point. That’s why it’s a scam and not a legitimate business model.
So what is the timeline for this? When is all his property out of his hands? I wanna see him get a job.
Can he ask for some kind of emergency injunction to an appeals court if she orders his properties to be sold off to cover it? I’d be really surprised if that wasn’t the case.
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