1y ago

Don't trust Trump's 'impossible' appeal bond claims, attorney general tells judges

www.cnbc.com

New York AG pushes back on Trump's 'extraordinary' request to stay $464M fraud judgment

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."

82 comments

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)
- 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.
- 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.
  
  If he has equity why couldn't he mortgage it?
- 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. 🤞
- 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*
  
  The sooner the amphetamines give him that stroke, the better it is for the nation.
  
  The only way to really hurt rich fucks is to fuck with their money.
  This is painful to trump in ways that normies like us simply can’t understand.
  
  It has the potential to bankrupt the rnc once he gets lara to give him all that rnc cash
  
  All I can picture is him on the podium telling his followers how smart declaring bankruptcy is. Then seeing a huge wave of Donnie's dumbest fille for bankruptcies across the nation.
  
  Bankruptcies come in 7s
  
  He's very experienced in declaring bankruptcy.
- 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.
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.
- Trump in court is like Sideshow Bob in a room full of rakes.
- 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.
- 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?
  
  Yeah, that seems like the mostly likely route to him actually experiencing consequences.
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.

82 comments