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  • Trump Says He Might Have to Sell Properties to Pay $454 Million Penalty

    From Lou Bricano@21:1/5 to All on Wed Feb 28 10:37:55 2024
    XPost: alt.fan.rush-limbaugh, alt.society.liberalism, alt.atheism
    XPost: alt.fun, alt.politics.democrats.d

    The ex-president, who is appealing the penalty in his civil fraud case, offered a bond of only $100 million to pause the judgment.

    By Ben Protess and Kate Christobek
    Feb. 28, 2024 | Updated 1:30 p.m. ET

    Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil fraud case, saying that he might need to sell some of his properties unless he gets relief.

    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.

    https://www.nytimes.com/2024/02/28/nyregion/trump-bond-civil-fraud.html

    Golly — what a shame <chortle>

    Actually, it's not a shame. No right-thinking person has any sympathy for the criminal.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Lou Bricano@21:1/5 to Lou Bricano on Wed Feb 28 10:44:45 2024
    XPost: alt.fan.rush-limbaugh, alt.society.liberalism, alt.atheism
    XPost: alt.fun, alt.politics.democrats.d

    On 2/28/2024 10:37 AM, Lou Bricano wrote:
    The ex-president, who is appealing the penalty in his civil fraud case, offered
    a bond of only $100 million to pause the judgment.

    By Ben Protess and Kate Christobek
    Feb. 28, 2024 | Updated 1:30 p.m. ET

    Donald J. Trump offered a New York appeals court on Wednesday a bond of only $100 million to pause the more than $450 million judgment he faces in his civil
    fraud case, saying that he might need to sell some of his properties unless he
    gets relief.

    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.

    https://www.nytimes.com/2024/02/28/nyregion/trump-bond-civil-fraud.html

    More from the story:

    In seeking relief, Mr. Trump’s lawyers disclosed that they would be unable to
    secure a bond for the full amount, raising the prospect that he might soon
    default on the judgment if the appeals court denies his request. Without a
    stay, Mr. Trump’s lawyers warned, he likely would have to sell some of his
    New York properties “under exigent circumstances,” in what would be a
    punishing blow to the former president.

    *Of course* Trump couldn't secure a bond for the full amount — no surety bond issuer in his right mind would lend that much money to the confirmed *fraudster*. Not even a consortium of them would do that. They know he's going to default. They also know that if he were to put up any of his properties as collateral, the valuations would be fraudulent.

    This is just fucking great!


    Golly — what a shame <chortle>

    Actually, it's not a shame. No right-thinking person has any sympathy for the criminal.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From super70s@21:1/5 to Lou Bricano on Wed Feb 28 13:27:08 2024
    XPost: alt.fan.rush-limbaugh, alt.society.liberalism, alt.atheism
    XPost: alt.politics.democrats.d

    On 2024-02-28 18:44:45 +0000, Lou Bricano said:

    Without a stay, Mr. Trump's lawyers warned, he likely would have to
    sell some of his
    New York properties "under exigent circumstances,"

    Well bless his heart.

    The courts aren't concerned whether an (alleged) billionaire loses $354
    million in a transaction, as long as his net worth is many times that.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)