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 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.
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.
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.
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.
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.
If he has equity why couldn’t he mortgage it?
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.
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.