New York judge finds Donald Trump liable for fraud

[mervyn]

Trump Says He Might Have to Sell Properties to Pay $454 Million Penalty
https://www.nytimes.com/2024/02/28/nyregion/trump-bond-civil-fraud.html

It was a stunning acknowledgment that Mr. Trump, who is racing the clock to either secure a bond from a company or produce the full amount himself, lacks the resources to do so. Without a bond, the New York attorney general’s office, which brought the fraud case, could seek to collect from Mr. Trump at any moment.

 

[El OchoCinco]

everything he ever built is crap anyway

should be destroyed, removed, ...

You have to remember, he doesnt build shit for the most part... people pay him to use his name as a license but a 3rd unrelated party builds it without any connection to him....

 

[Spike Trader]

Trump admits he'll have to sell buildings to come up with $450M in cash

Real estate mogul and former president Donald Trump admitted Wednesday he'd have to sell off properties to pay the $450 million he owes in damages after a ruling in his civil fraud trial.

Trump filed a more than 1,790-page emergency motion to a New York appeals court requesting a stay on Judge Arthur Engoron's verdict which he said would cause "irreparable harm," and offering to hand over a $100 million bond instead.

"In the absence of a stay on the terms herein outlined, properties would likely need to be sold to raise capital under exigent circumstances," Trump's attorneys wrote. "And there would be no way to recover any property sold following a successful appeal and no means to recover the resulting financial losses."

As attorney Bradley Moss summarized it, "He doesn’t have the cash."

 

[SunTrader]

You have to remember, he doesnt build shit for the most part... people pay him to use his name as a license but a 3rd unrelated party builds it without any connection to him....

Also he loves debt, so many of the props he does own likely have plenty of debt.

Let's see how much banks love him when he's forced to pay up to sell off.

Oh how I hope they turn the screws back on him.

 

[SunTrader]

His lawyers omitted the words "some of", as in "some of the banks...". The "so far" at the end of the end of the sentence was also omitted. Trump's loans have not all been paid off. Trump's lying caused the risk of future default to be mis-priced, shifting additional risk to the bank's equity holders. In the past, Trump's 6 (at least) bankruptcies left at least 72 U.S. banks holding the bag.

As well bank officers, of the too big to fail ilk, mostly don't care whether or not a loan is paid back or not. Just that there bonuses keep coming.

OTOH what they say among themselves behind closed doors about OrangeMan is prolly the same we all (excluding MAGA's) say about him.

 

[gwb-trading]

I take it Don Jr. sent his $4,000,000 fine payment to Judge Engoron in white powder form.

White powder spills from envelope sent to Trump fraud judge: report
https://www.rawstory.com/judge-engoron-threats/

 

[mervyn]

Trump must come up with the full bond amount to cover the $454 million civil fraud trial judgment, appeals court judge rules

https://www.cnn.com/2024/02/28/politics/donald-trump-appeals-court-new-york/index.html

Trump ordered to pay full $454 million fraud judgment, but can apply for loans during appeal

https://www.cnbc.com/2024/02/28/trump-lawyers-plan-to-post-100-million-bond-in-ny-fraud-appeal.html

thanks for the powder, i suppose the appeals court judges are not happy.

magatards are magatards for this reason.

 

[Frederick Foresight]

 

[mervyn]

he needs to call bibi asap, to cash in his jerusalem move.

 

[Atlantic]

the emperor is naked.

and has always been.