Judgment in Trump civil fraud case officially entered at $464 million
Judgment in Trump civil fraud case officially entered at $464 million
www.nbcnews.com
Judgment in Trump civil fraud case officially entered at $464 million
55 comments
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Really, an inability to pay will be far more damaging to his campaign than a criminal conviction or jail time. Let's see how it goes.
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That presumes his pithed supporters gave a crap about anything but overt racism and lies.
Spoiler: They do not
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It's a fair point. I think the key in political contests is to win over undecided voters. You will never win over the Maga zombies. You probably won't win over "my family votes Republican" voters. But there's a chance with the almost impossible to understand undecided voters.
The people who thought "Trump is a businessman and we need a better economy" or "Trump is a billionaire so isn't subject to corruption" might see him differently now. Both of these takes are laughably naive but undecided voters tend to also be low information, last minute people. They get a vague sense of things and go with that. Seeing Trump humiliated on a money issue might do it.
That's just one scenario.
In some purple districts the vote margins are really narrow. A few thousand voters going D instead of R can do it. It's why third party candidates are so damaging.
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Yeah the motivated reasoning in trump supporters is strong.
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Not really, IMO. These clowns seem to sit on debt with no punishment or real enforcement.
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The bond will likely be very costly. While courts have discretion in setting exactly how much is required for a bond, New York courts typically require up to 120% of the judgment, including all pre-judgment interest. That means he could have to post a bond for well over $500 million.
No problem, no problem. The guy’s “a billionaire” right? Okay, he pays the court what it’s owed, and, uh, he’s still got a cool half a billion to, y’know buy chewing gum and fly his little plane around and that. Piece o’ cake.
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Last I heard he was claiming to be worth $10B. Forbes estimates 2.6B.
Here are some of his options.
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In the end, this is chump change for Putin, who will certainly front the cash for control of the American government.
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I’m really hoping if he tries, it’ll set off all kinds of red flags with the court-appointed independent reviewer that’s watching his finances like a hawk. Maybe foolishly optimistic of me, but I really hope it works out that way.
Also side note my dude, are you browsing politics news from your porn lemmy account? I mean, respect, but that’s hilarious.
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We can hope for sure. Trumps penchant for using his campaign funds for things could really obfuscate a lot of ‘donations’. The ‘easy out’ I see here is having one of Trump’s rich buddies (I’m sure he still has plenty of people who want a sweet cabinet position, ala DeVoss) takes dollars from Putin (likely as a sweetheart business deal) as a go-between. Money laundering has become an easy-joke these days.
Can you IMAGINE the orgasmic feeling of Trump actually suffering a consequence. No better account to surf this content under. Also, I forgot to switch accounts.
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Interestingly, I imagine this man would not even get basic security clearance with this level of debt and high risk of being manipulated (by others offering to pay debt). Yet he's still a candidate for president, interesting....
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Even the military will disqualify you if you have too much debt because you become a target of the enemy.
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So how does this end?
Like.. what happens when he fails to pay? Does he get arrested?
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No, as we do not have "debtor's prison" in the United States....at least not officially. There are certainly ways the system works around that.
However, in this case the state will file a lien against all of his properties, and then begin the legal process of recouping the funds from the judgement if he defaults.
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$464 million: the cost of one and a half Russian A-50 early warning planes - of which Ukraine just shot down one today - OR the cost of forgiving 12,500 student loans (out of 43 million Americans with student loans).
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Waiiiit they shot another one down today!?!?!?!? Aren't there only like 3 or 4 and they shot one down a month or so ago
Edit: well damn they did! Fuck ya. Article I saw says they had 9 of these, 2 of which have now been shot down, and they're never all active at once so that's a huge blow.
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Or a fraction of the cost many American families had to bitterly gulp because of that asshole's lies during the pandemic.
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This is the best summary I could come up with:
A clerk in New York has officially entered a more than $464 million fraud judgment against former President Donald Trump and top executives at his company — an amount that will grow by over $111,000 a day until it's paid.
If he does not do so, the New York attorney general's office will be able to begin collection proceedings against Trump and his co-defendants in the civil fraud case.
Trump's lawyers had sought to delay the judgment from being entered, presumably to allow them more time to line up financing for the bond, but Engoron rejected that request Thursday.
“You have failed to explain, much less justify, any basis for a stay,” Engoron told Trump attorney Clifford S. Robert in an email before he signed the judgment.
In a ruling last week following a months-long trial, Engoron found Trump and his top executives had intentionally engaged in a massive and long-running scheme to improperly inflate his assets in financial statements so he could take advantage of favorable loan and insurances rates he wasn't actually entitled to.
He found their "refusal to admit error — indeed, to continue it, according to the Independent Monitor — constrains this Court to conclude that they will engage in it going forward unless judicially restrained.”
The original article contains 593 words, the summary contains 210 words. Saved 65%. I'm a bot and I'm open source!
55 comments
its like the cherry on top
That's about $1.25 per second.
Wait $1.25 or $0.125?
More money he doesn't pay
Letitia James just said the other day she'll seize his real estate if she has to
im curious to know what happens when he doesnt pay. can they go after all assets, including those not in new york?
Ianal - but I believe you can’t get a re-trial if you don’t submit the money or a bond. So somebody is going to pay it, even if they have to use rubles or diamonds
NY doesn't care.
Ms. James has already said that NY will seize his buildings one by one and auction them off until the debt is paid.
Gonna need to sell a helluva lot more gold sneakers! Bigly!