Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty
Donald Trump has posted a $175 million bond to avert asset seizure as he appeals NY fraud penalty
Donald Trump has posted a $175 million bond in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals.
Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing.
A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement.
The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.
If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.
Long history of innocent poor people dying in jail because they couldn't afford hundred(s), or thousand(s), dollar bail. Yet this proven rapist, fraudster, piece of crap gets his bond dropped by over 1/2 just because? His credit rating has to be shit. Fucking hell. What is the point of keeping this broken system?
118Broken? Seems to me it's working just as intended.
42The system works just fine for the right people.
18The system is not broken it was built this way.
14The system is working as intended again by the people who paid for it. Who knows, he might even end up as President of the United States of America once again. What a horrifying thought.
8Welcome to the USA!
4
The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld.
I'm curious as to how a $175M bond is supposed to guarantee a $454M judgment.
95The idea is the real estate isn't going anywhere. It is technically not what the bond laws say is needed, but then this is a very large amount. This dude is being reamed and the state is not going to let him off the hook.
It would be career suicide in NYC. Most of the city and metro area hate Trump's guts.
29Didn't you read?? It grows with daily interest! 🙌
/s
10I bet he will want the interest on the posted money in case he gets his way and gets it back...
4
I'm curious as to how a $175M bond is supposed to guarantee a $454M judgment.
The appeals court lowered it to this amount. This could be a hint that the judge didn't calculate the original amount correctly. Meidas Touch on YouTube did a video about it. I haven't seen any good articles which repeat the same idea.
3
What about the other 300 million... We're just going to let it slide, aren't we?
56Unfortunately an appeals court reduced the bond.
"Trump’s Bond in Civil Fraud Case Is Reduced to $175 Million "
21The appeals court just stroking the balls of the wealthy as usual.
15
I’m sure that this same latitude would be given to any one of us, right?
55Why was I expecting consequences?
50I have learned to not expect them for especially the orange idiot. I'll believe he's suffered then after he's already done it.
7
“This is what we do at Knight Insurance, and we’re happy to do this for anyone who needs a bond,” said Hankey, who is best known in the business world for making high-risk, high-interest loans to car buyers with flawed credit histories.
lmao
42Trump is trading one payment for an even worse one. There's no way Hankey doesn't have an iron-clad contract to get back way more than Trump got.
17A contract is toilet paper to Trump. He'd happily renig on his part and start the courtroom shenanigans anew. After all what's one more civil case?
1
Fuck it; at this point stuff his face with Big Macs until he bursts! He’s never going to jail, so lets clog those arteries until we’re done with this shit stain
38A real life Mr. Creosote ending for him would be pretty satisfying.
20
Nah they should've just given him even less to pay. Make it $10 total and give him another month to come up with the money. That's what they just did.
30Do we know where he got it from? He was seeming pretty illiquid.
17I’ll give you a hint. It rhymes with “Russian Oligarchs.”
(Sorry, I couldn’t think of anything that rhymes with Russian Oligarchs, so I just said Russian Oligarchs)
If you’re still stumped, it was Russian Oligarchs.
50I think you meant the Martian Oil Baths
4
Nothing but a free pass for this guy
15This is bullshit. Seize his stuff!
6I guess he's not quite as broke as everyone keeps insisting.
-18He had to get his bond paid by someone else, in this case it was Knight Insurance.
3I consider myself pretty broke and I don’t think I could convince anyone to give me nearly $200 million for bail.
-2
Your guess is wrong. It's more likely a Russian oligarch bailed him out.
1