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Trump has failed to get appeal bond for $454 mln civil fraud judgment, lawyers say
(www.reuters.com)
this post was submitted on 18 Mar 2024
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politics
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Wait it says “without posting it himself”.
Then it says it’s an “impossible amount”.
BuT He’S A bIlliONaiRE!!!
He has no cash, it's all tied up in real estate. He would have to sell to get the bond money.
Probably could get a 'donor' to purchase though.
If he really had money and paid his debts any bond issuer who could afford it would have done it by now.
Hard to set up the value of collateral when his crime is inflating th worth of his assets.
It's not all tied up in real estate. Recall he has a lot of the equity in Truth Social, which he is trying to sell at an inflated price to DWAC. He is just as much of an internet influencer these days as a real estate investor.
But I think it is telling that a key point of the trial was that he overinflated the value of his assets, and now that he has to put up cash, all of a sudden we find that he can't put up enough collateral, because banks are no longer taking his word on those valuations.
Ok, better put, it's non-liquid. It's all tied up in over inflated investments. 😀
What's really unfortunate for him is that he claimed in depositions that he had $400 million cash on hand. So either he does have the cash or he committed perjury.
Yes, except laws are for people like you and I.
Would be great to see the RNC put their money on this!!
Edit /s
The RNC only had $8.7 million on January 31st of this year. They're $445 million dollars short of the amount that Trump needs. (Reference)
I still think it's a great idea for them to use all thier money for this lol
If it was a real substance in real estate, it should be easy to borrow the money he needs. So either his real estate is already mortgaged to the hilt, so he can't add anymore on top, or they simply don't trust the evaluations any more.
I really hope they start selling off Trumps stuff starting next week. In a fire sale, cents for the dollar.
I'm betting it's both over leveraged and no one will lend to him.
And lendors think he will lose and have to actually pay.
Welp, he'd better get busy selling it, then! Especially since even if he doesn't appeal he's got to fork it over anyway to pay the judgement, LOL.
Don't worry, the State of NY will do that part for him.
I am SO looking forward to that.
He doesn't have to liquidate it now. He can put it up as collateral against a loan.
The liquidation will happen when his appeal is denied, and the loan is called in.