In court filings in Manhattan yesterday, representatives for Donald Trump said the former President was unable to post a bond to secure the $464 million civil trial fraud judgment against him. Trump needs to find the money while he tries to appeal the ruling. If he fails, some of his assets and property faces seizure.
His lawyers wrote that “obtaining an appeal bond in the full amount” of the judgment “is not possible under the circumstances presented.”
They said he’d approached 30 bond underwriters but without success. His lawyers are asking that the bond be reduced. They previously suggested a bond of $100million. However, that was rejected in late February.
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The prosecution, led by District Attorney Letitia James, relates to the Trump organization inflating the value of its assets to obtain favorable loans. Both Trump Sr. and his two adult sons have been fined, but it’s the former President who must pay the most.
With interest, Trump now owes the state of New York $456.8 million. That’s increasing by approximately $112,000 a day.
Trump’s lawyers say Trump’s wealth is tied up in property and golf courses. However, bond providers want cash or stocks as assurance they might get their money back.
Donald Trump has consistently lambasted the decision on his social media and blasted it a politically-motivated “witch hunt”. However, a video of Trump at a rally in South Carolina last month has reappeared to haunt him.
In it, he stresses the importance of people paying their bills.
“You got to pay your bills,” he says.
Trump can’t find a company dumb enough to front him $464 Million for his bond and Jared and Ivanka aren’t returning his calls. pic.twitter.com/OFp09cSMFt
—(@SundaeDivine) March 18, 2024
“You gotta pay your bills”
Trump’s comment on that occasion was related to NATO. Trump has often expressed ambivalence toward the military pact and the amount the US contributes. He recalled telling a former head of state that if their country didn’t pay their allocated bill to NATO, they could not rely on the US to defend them. He said he would encourage Russia to do “whatever the hell they want”.
“I would not protect you,” Trump told the politician, as he recounted to the rally crowd. “In fact, I would encourage them to do whatever the hell they want. You’ve got to pay. You’ve got to pay your bills,” he remembered saying.
Trump is now scrambling around to pay his bills. Besides the $450million+ he needs to come up with in New York, there’s also the $83 million he still needs to pay E. Jean Carroll for defamation.
Some of his supporters are aghast that no other billionaires are coming to Trump’s rescue.
This is the funniest tweet I’ve seen in weeks. pic.twitter.com/Ekunat8LxY
— Ron Filipkowski (@RonFilipkowski) March 19, 2024
Alina Habba
Trump’s “pay your bills” comments are not the only ones to have aged poorly. His lawyer, Alina Habba, was bullish a few weeks ago when she said that Donald Trump would comfortably survive any financial penalties because of his wealth.
“This guy is worth a lot of money, billions and billions of billions of dollars…He happens to have a lot of cash,” she claimed.
Trump attorney Alina Habba on Trump last month:
— Republicans against Trump (@RpsAgainstTrump) March 18, 2024
“This guy is worth a lot of money, billions and billions of billions of dollars…He happens to have a lot of cash.” pic.twitter.com/aKXm8qLgVj
Trump’s legal woes have prompter little sympathy from most corners of the internet.
Kid Rock has donated all of his last albums earnings to Trump:
— cjmmn (@ChuckCjmmn) March 18, 2024
$413 cash
12 catalytic converters
34 bottles of Sudafed pic.twitter.com/7cItr6iJXh
Trump is a BINO… Billionaire In Name Only
— Ryan King (@RKING90210) March 19, 2024
Mar-a-Lago is worth $1.5B. Can’t he just sell off a tennis court or two?
— PatriotTakes 🇺🇸 (@patriottakes) March 19, 2024
On the bright side for Donald Trump, it looks like he won’t be impacted by President Biden’s proposed billionaires tax.
— Melanie D'Arrigo (@DarrigoMelanie) March 19, 2024
Stormy Daniels
Trump’s failure to secure a bond was not the only bad news to hit the former President yesterday. A judge in his hush-money case dismissed the Trump team’s objections and will allow Storny Daniels and Michael Cohen to testify in the case.
The case was due to go to court later this month. However, it has been postponed by a few weeks after new evidence came to light. It is still due to commence this spring and will be Trump’s first criminal trial. Trump allegedly paid hush money to Daniels to keep quiet about a brief affair they had. Cohen also says Trump falsified business records to hide the hush money payments. Trump denies the 34 charges relating to this.
Truth Social
In financial terms, Trump does have one ray of hope. He owns a majority stake in Truthy Social. His company, Trump Media & Technology Group, owns at least 58% of the platform.
Trump is trying to float the company on the stock exchange. If that happens, he could be due a windfall worth “billions”, according to The Hill. However, it depends on whether other shareholders agree to the sale. A shareholder meeting is taking place this Friday.
If agreed, any public flotation may take several months to complete. Whether that would help him in the short run, in terms of securing a bond, is unclear.
Related:
Trump-endorsed GOP candidate denies creating profile for gay hookups, says it was a prank
Bernie Moreno’s team claims a former intern used the would-be Senator’s email address to create the profile.
Looks like Trump is about to get hit with another expensive lawsuit, this time from… Rudy Giuliani???
Giuliani has been one of Trump’s most loyal sycophants, but that could soon be changing.
ZzBomb
Trump claimed that Hillary shouldn’t had even been running in 2016 b/c she “was under investigation.”
Trump shouldn’t be running today b/c he’s already a civilly liable rapist with more criminal court cases on the way.
And turns out, he’s broke af.
I prefer my presidents who don’t commit crimes and run for office to try and avoid the consequences.
abfab
The Joker.
Trump Sues ABC and Stephanopoulos, Saying They Defamed Him
The lawsuit stems from the anchor’s recent contentious interview with Representative Nancy Mace.
Mr. Trump, who often galvanizes his supporters by attacking the press, has filed a string of unsuccessful defamation suits against major media organizations. Federal judges have dismissed his suits against CNN, The New York Times and The Washington Post.
The Biggest Loser.
abfab
Waiting for this POS to send his racist klansmen and women a Richard Simmons letter…and mean it.
abfab
And some positive news.
By Minho Kim
The New York Times
WASHINGTON — The organizer behind an honor named for Justice Ruth Bader Ginsburg, a lifelong champion of women’s rights and liberal causes, is canceling the award ceremony scheduled for April after facing blistering criticism from her family and friends over several of this year’s planned recipients.
Ginsburg helped establish the award in 2019, the year before she died. It was originally intended for “women who exemplify human qualities of empathy and humility,” but four of the five intended recipients this year are men. Among them are tech entrepreneur Elon Musk, who frequently lobs tirades at perceived critics; tycoon Rupert Murdoch, whose empire helped give rise to conservative news media; and financier Michael Milken, who was a face of corporate greed in the 1980s and served nearly two years in prison before becoming a philanthropist.
abfab
This is too much fun.
Still Unable to Post Bond, Trump Has Most Crazed Meltdown Yet
Donald Trump has no idea how to post bond in the fraud trial—and he’s absolutely losing it.
“I would be forced to mortgage or sell Great Assets, perhaps at Fire Sale prices, and if and when I win the Appeal, they would be gone. Does that make sense? WITCH HUNT. ELECTION INTERFERENCE!” Trump posted Tuesday morning.
LOL
bachy
When will this be over? Anyone?
abfab
Maybe it was all just a horrible nightmare.
Kangol2
When people stop voting for Donny Demento! We’re talking millions of people.
abfab
Melania Trump teases potential return to the campaign trail
Kate Sullivan
By Kate Sullivan, CNN
Oh please do! Your trolls are chomping at the bit.
CNY1983
to people who lived in nyc and remember the trumps none of this is new. they were a joke then, are a joke now and always will be a joke. they couldn’t rub two nickles together and make a dime unless they grifted both nickles.