It Seems Trump Still Has No Idea How to Post That Massive Fraud Bond
It Seems Trump Still Has No Idea How to Post That Massive Fraud Bond
No one wants to help out poor old billionaire Donald Trump.
Donald Trump still hasn’t posted bond in his New York civil fraud trial, but his lawyer Alina Habba wants you to know that it’s definitely not because they’re having trouble getting the massive amount together.
The former president was fined $354 million for committing real estate–related fraud in New York. In order to appeal the decision, Trump must post a bond of the full amount plus interest—which has already reached nearly $467 million, with interest adding $112,000 per day.
When asked Wednesday if Trump was any closer to posting bond, Habba had a very clear answer that raised no red flags.
“Yeah, no, unfortunately I can’t speak to that. That’s privileged, and I am the attorney, one of the attorneys on that case,” Habba told Fox News, stating the obvious.
She quickly pivoted to attacking the case altogether, calling the judgment “absurd” and expressing hope that an appeals court would overturn it.
When the actual fuck does the government go "you have not paid, we will start taking the money"?
Cause they will happily garnish your wages and take money from your bank account.
100I believe there is a little leeway in there to allow for an appeal? He’s getting charged interest though, so it’s not like he’s off the hook.
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Nobody has 467+ million dollars in cash ready for transfer at any given moment, especially for something like this. That would be poor financial planning even for a billionaire. However... It's not like he didn't have a heads up that it's coming, so it seems like he didn't have his ducks in a row here.
I'm sure even Elon or Bill would have to make some annoyingly painful decisions to get that amount of cash on short notice.
It's telling that he is struggling to borrow against his properties to raise the capital. It suggests that behind the scenes banks are not offering him favorable terms. And even if he were to win on appeal, it will still be quite expensive for him. I'm guessing that in the bank's internal analysis they project the original judgment will stand and therefore are considering how much they will earn after they foreclose on his buildings and sell them. It's potentially sizable...
If the Trump name were removed from the tower the value might actually increase lol.
On the other hand, unless Trump is delusional (granted, it's possible), he must also know that winning on appeal is a long shot and therefore this money, once he puts it up, is gone. I guess his efforts to borrow rather than sell to raise capital are his version of YOLO. Because he's either president and figures out how to stall, or he's old already in the consequences will be short-lived.
55Nobody has 467+ million dollars in cash ready for transfer at any given moment
That's OK. The point is that nobody wants to lend him that amount of money anymore. So either he does not offer enough collateral, or no-one deems whatever he offers worth it. And those companies who have the money to do this usually know how to estimate someones worth...
13Nobody has 467+ million dollars in cash ready for transfer at any given moment, especially for something like this.
You're right, they don't. That's what collateralized loans are for. But he hasn't been able to get a loan lined up either. Hmm...
1
Don't worry guys we all know trump is a "billionaire" he will easily post this bond without needing an insurance company to bail him out. I'm sure he's probably got 450m just laying around in boxes at maralago. We all know he's super fancy and rich and has big hands.
47He did claim at one point he had $400M in liquidity available... so that would cover most of it. A "reputable" businessman like himself shouldn't have any issue finding someone that can help post bond for the remainder, surely.
15Didn't he say at one point that part of his net worth was the value of his name? Maybe he can just sell that, and we can legitimately start calling him by one of the popular aliases.
12Yeah sadly I think 'Benito the Cheeto' is off the table, due to trademark.
2
Maybe he can ask his pal at Chubb.
39I bet this goes all the way to the election... If he wins he makes it vanish. Or well attempts to do so... If he loses.. he will fuck off out of the US.
34bet this goes all the way to the election... If he wins he makes it vanish. Or well attempts to do so...
That does appear to be his plan.
Hopefully it fails in multiple ways.
6
Donald trump is so rich, he can afford to lose a casino. He's a gazillion-aire. He's immune, and it was "a perfect phone call".
33Headline should be "Has No Idea How to Post That Massive Fraud Bond Without Actually Paying Any of His Own Money"
16He could pay all of his own money and still not know how to post the entire bond because of how much would still be left to pay.
15He could have all the money he needs, and still not know how to post the entire bond, because he's an idiot with a moron for a lawyer.
7
"Yeaaaah... No."
10Can they seize his assets?
10They absolutely can, after the deadline later this month.
The question is will they seize his assets?
7
Letitia James must be salivating
5I read the headline as Trump still hasn’t posted his massive fraud “boner,” and somehow it still made since.
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