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Trump can’t secure $454 million appeal bond in New York fraud case, his lawyers say


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Trump can’t secure $454 million appeal bond in New York fraud case, his lawyers say

Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” the lawyers wrote, quoting an affidavit in the filing with the Appellate Division of Manhattan Supreme Court.

They said they have approached roughly 30 surety companies through four separate brokers, and that they have spent “countless hours negotiating with one of the largest insurance companies in the world.”

 

Clearly, Trump is not as rich as he'd have you believe, and too concerned about the political optics to declare bankruptcy. I can't help but think there's a moral to this story: if you lie, cheat and are found to have committed fraud multiple times, people don't want to risk money on you. Certainly that should figure into any risk assessment.

I still suspect that he'll come up with the bond before the deadline so that James doesn't sell Trump tower at the earliest opportunity. Perhaps he can ask Putin for a loan?

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Trump stated under oath under penalty of perjury, that he had $400 million “cash on hand.”

So the guy who was just found guilty of illegally inflating his wealth… just proved that he’s been inflating his wealth.  I hope Bragg tosses his butt in jail for perjury over that, just as he’s jailed Trump’s CFO for perjury in this case.  

Edited by Rebound
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1 hour ago, Hodad said:

Trump can’t secure $454 million appeal bond in New York fraud case, his lawyers say

Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” the lawyers wrote, quoting an affidavit in the filing with the Appellate Division of Manhattan Supreme Court.

They said they have approached roughly 30 surety companies through four separate brokers, and that they have spent “countless hours negotiating with one of the largest insurance companies in the world.”

 

Clearly, Trump is not as rich as he'd have you believe, and too concerned about the political optics to declare bankruptcy. I can't help but think there's a moral to this story: if you lie, cheat and are found to have committed fraud multiple times, people don't want to risk money on you. Certainly that should figure into any risk assessment.

I still suspect that he'll come up with the bond before the deadline so that James doesn't sell Trump tower at the earliest opportunity. Perhaps he can ask Putin for a loan?

I'm surprised Trump hasn't asked Kushner to invest in Trump Tower from the $2B MBS slush fund.... or maybe he has and was turned down as too high a risk....

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51 minutes ago, Rebound said:

Trump stated under oath under penalty of perjury, that he had $400 million “cash on hand.”

So the guy who was just found guilty of illegally inflating his wealth… just proved that he’s been inflating his wealth.  I hope Bragg tosses his butt in jail for perjury over that, just as he’s jailed Trump’s CFO for perjury in this case.  

Well, if Trump said it, it must be true. 

I think even the most die-hard Trump cultists would think twice before bonding him with their life savings. Trump is and always has been dishonest, and on some level they know it.

 

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4 hours ago, robosmith said:

I'm surprised Trump hasn't asked Kushner to invest in Trump Tower from the $2B MBS slush fund.... or maybe he has and was turned down as too high a risk....

Chubb Insurance Group is a huge group.of companies so when they would give a surety bond it is risk spread over 250 companies in dozens of countries. So if they won't risk giving such a bond to guarantee Trumps claim of being a billionaire or that he can be trusted to pay it back with appropriate interest its unlikely anyone else will except perhaps Putin or a similar oligarch who can command a country level net worth. 

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18 hours ago, Hodad said:

Well, if Trump said it, it must be true. 

I think even the most die-hard Trump cultists would think twice before bonding him with their life savings. Trump is and always has been dishonest, and on some level they know it.

 

The right-wingers sure are quiet about Trump being too poor to get his bond, after he said under oath that he had the cash.  

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21 hours ago, Rebound said:

Trump stated under oath under penalty of perjury, that he had $400 million “cash on hand.”

So the guy who was just found guilty of illegally inflating his wealth… just proved that he’s been inflating his wealth.  I hope Bragg tosses his butt in jail for perjury over that, just as he’s jailed Trump’s CFO for perjury in this case.  

400 million doesn't mean cash just lying around to spend on whatever, that is cash used to pay expenses by his company and they can't just wipe out their bank account. The whole system is jacked if you have to have the money to pay the judgement just to appeal, it is inherently unfair to anyone. So if he can't pay the judgement right this minute he isn't allowed to appeal the judgement? That makes no sense.

 

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46 minutes ago, Fluffypants said:

400 million doesn't mean cash just lying around to spend on whatever, that is cash used to pay expenses by his company and they can't just wipe out their bank account. The whole system is jacked if you have to have the money to pay the judgement just to appeal, it is inherently unfair to anyone. So if he can't pay the judgement right this minute he isn't allowed to appeal the judgement? That makes no sense.

 

Yes, the law says that in order to appeal a civil judgement, you must post a bond of the judgement amount, either cash or as a surety bond.  The criminal Trump stated that he had $400 million in cash before he said he didn’t.  
 

Your thirty days complaint is nonsense, because Trump knew he lost this trial months and months ago and he knew the plaintiffs were asking for $350 million. So he had about six months to secure the money if he wanted to appeal, not 30 days. 
 

This is fair because Trump lost. Filing an appeal delays receipt of funds by the plaintiff and causes the plaintiff to spend even more money to obtain the relief they are entitled to. That’s why the law is written that way. There have been even larger lawsuits which went to appeal.  

Edited by Rebound
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2 hours ago, Fluffypants said:

400 million doesn't mean cash just lying around to spend on whatever, that is cash used to pay expenses by his company and they can't just wipe out their bank account. The whole system is jacked if you have to have the money to pay the judgement just to appeal, it is inherently unfair to anyone. So if he can't pay the judgement right this minute he isn't allowed to appeal the judgement? That makes no sense.

 

What makes no sense is to allow someone who OWES THE MONEY, an interest free loan which he can tie up in court for a year or more by appealing over and over.

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Trump doesn't own many properties outright so will have a tough time using them to secure a bond when there are other owners or creditors. Trump Tower in NY is a good example, much of it is residential condo's that are owned by their occupants, not rented. He never owned the towers in Toronto or Vancouver and they couldn't wait to dump his name after 2016. Who knows now much of an interest he has in other Trump properties or how much of their value is owed to banks and other institutions. 

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39 minutes ago, robosmith said:

What makes no sense is to allow someone who OWES THE MONEY, an interest free loan which he can tie up in court for a year or more by appealing over and over.

Usually that is how this works, its not a loan its an appeal. If you don't feel like the judgement was correct you have the right to appeal.

So let us just say you are a farmer and someone sued you for 1 billion dollars because they got sick from a head of lettuce and you have an overzealous jury or judge who hears the case and grants the judgement of 1 billion dollars. Well the farmer doesn't have 1 billion dollars and everyone knows the judgement is ridiculous for a case of diarrhea but the farmer has to come up with the 1 billion dollars just so he can get a ridiculous judgment reduced or dismissed then, since he doesn't have the funds for an appeal he automatically gets everything he owns taken from him with no way to fight it.

Trump never had a trial, he was deemed guilty day one with a summary judgement and the judge granted more than the state was asking. If you all cannot see how wrong everything in this case was, you are so caught up in TDS that there is no hope for you.

 

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2 minutes ago, Fluffypants said:

Usually that is how this works, its not a loan its an appeal. If you don't feel like the judgement was correct you have the right to appeal.

So let us just say you are a farmer and someone sued you for 1 billion dollars because they got sick from a head of lettuce and you have an overzealous jury or judge who hears the case and grants the judgement of 1 billion dollars. Well the farmer doesn't have 1 billion dollars and everyone knows the judgement is ridiculous for a case of diarrhea but the farmer has to come up with the 1 billion dollars just so he can get a ridiculous judgment reduced or dismissed then, since he doesn't have the funds for an appeal he automatically gets everything he owns taken from him with no way to fight it.

Trump never had a trial, he was deemed guilty day one with a summary judgement and the judge granted more than the state was asking. If you all cannot see how wrong everything in this case was, you are so caught up in TDS that there is no hope for you.

You don't know what you're talking about. Trump had a trial by the judge because he didn't ask for a jury trial.

The judge looked at the evidence and rendered his verdict. That is a trial, no matter what you believe.

Of course a judge is not going to make the ridiculous false equivalence ruling in YOUR SPECULATION.

If you don't like the laws in New York, don't commit fraud there.

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1 minute ago, robosmith said:

You don't know what you're talking about. Trump had a trial by the judge because he didn't ask for a jury trial.

The judge looked at the evidence and rendered his verdict. That is a trial, no matter what you believe.

Of course a judge is not going to make the ridiculous false equivalence ruling in YOUR SPECULATION.

If you don't like the laws in New York, don't commit fraud there.

What fraud? Nobody who Trump borrowed money from, even when told by the prosecutors what he did, thought he committed fraud. How can someone commit fraud when no one who was actually affected by it thinks or claims it was fraud.

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7 minutes ago, Fluffypants said:

What fraud? Nobody who Trump borrowed money from, even when told by the prosecutors what he did, thought he committed fraud. How can someone commit fraud when no one who was actually affected by it thinks or claims it was fraud.

Have you even read the NYS LAW? If you had, you would know that it says specific harm is NOT REQUIRED.

If you don't believe LYING on loan applications is illegal BANK FRAUD, I suggest you try it and see what happens.

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On 3/18/2024 at 12:00 PM, Hodad said:

Trump can’t secure $454 million appeal bond in New York fraud case, his lawyers say

Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” the lawyers wrote, quoting an affidavit in the filing with the Appellate Division of Manhattan Supreme Court.

They said they have approached roughly 30 surety companies through four separate brokers, and that they have spent “countless hours negotiating with one of the largest insurance companies in the world.”

 

Clearly, Trump is not as rich as he'd have you believe, and too concerned about the political optics to declare bankruptcy. I can't help but think there's a moral to this story: if you lie, cheat and are found to have committed fraud multiple times, people don't want to risk money on you. Certainly that should figure into any risk assessment.

I still suspect that he'll come up with the bond before the deadline so that James doesn't sell Trump tower at the earliest opportunity. Perhaps he can ask Putin for a loan?

Its sad that the justice system has been raped by leftists so now you have to pay I order to file an appeal. 

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36 minutes ago, Yakuda said:

Its sad that the justice system has been raped by leftists so now you have to pay I order to file an appeal. 

It's much sadder that right wingers have NO RESPECT for the law. Once you are convicted, you OWE the money that you STOLE with FRAUD.

 

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14 minutes ago, robosmith said:

It's much sadder that right wingers have NO RESPECT for the law. Once you are convicted, you OWE the money that you STOLE with FRAUD.

 

First you dont actually think anyone believes leftists have respect for the law do you? Even you can't be that deluded can you? 

Next there was no fraud. Who was the damaged party? 

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37 minutes ago, Yakuda said:

First you dont actually think anyone believes leftists have respect for the law do you? Even you can't be that deluded can you? 

Next there was no fraud. Who was the damaged party? 

Sorry but your legal OPINION means nothing cause it's OBVIOUS you STILL have not read NYS law wrt bank fraud, which says specific harm is NOT NECESSARY for LYING to be a CRIME.

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10 minutes ago, robosmith said:

Sorry but your legal OPINION means nothing cause it's OBVIOUS you STILL have not read NYS law wrt bank fraud, which says specific harm is NOT NECESSARY for LYING to be a CRIME.

Cite the law for us. Oh that's right you can't. I forgot 

It was fraud not lying. BTW lying isn't a crime lying under oath is. The lying gas to be in the service of fraud. Fraud requires some having been damaged. Who was damaged by this supposed fraud? 

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7 minutes ago, Yakuda said:

Cite the law for us. Oh that's right you can't. I forgot 

Didn't you say you found the law? Were you LYING?

It's been posted here before NEWBIE.

7 minutes ago, Yakuda said:

It was fraud not lying. BTW lying isn't a crime lying under oath is. The lying gas to be in the service of fraud. Fraud requires some having been damaged. Who was damaged by this supposed fraud? 

LYING on a credit application IS BANK FRAUD.

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3 hours ago, Yakuda said:

Its sad that the justice system has been raped by leftists so now you have to pay I order to file an appeal. 

You are really just talking out of your ass again. It has nothing to do with "leftists." Turn off Fox.

1. No one has to "pay" to file an appeal. They just have to provide surety--proof that they can and will pay in the case the appeal is lost.

2. Surety bonds in civil cases go back, literally, thousands of years.

2. I'm no legal historian, but it's been in US federal law since at least 1967--but probably longer.

3. The purpose of the surety bond is to protect ALL parties

  • The court won't be subjected to frivolous and costly appeals that are being used solely as a delay tactic
  • The plaintiff has to wait to collect what's owed, but can be confident that they will be paid in full if the judgment stands -- the defendant won't be hiding or destroying assets owed to plaintiff during the appeal period.
  • The defendant can file the appeal without fear of the plaintiff (who has already won a judgement) seizing the defendant's assets. 

 

It protects all parties. And it makes perfect sense as a feature of the process. But because it's inconvenient to Orange Jesus you think this long-established and entirely reasonable legal practice is a "leftist" plot. GTFO.

 

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On 3/19/2024 at 1:51 PM, Fluffypants said:

What fraud? Nobody who Trump borrowed money from, even when told by the prosecutors what he did, thought he committed fraud. How can someone commit fraud when no one who was actually affected by it thinks or claims it was fraud.

It is a FACT that Trump defaulted on loans to Deusche Bank.  It is also FACT that Trump wields enormous political power, and Deusche, for many reasons, may not want to take the stand and say, “Yup, we’re a bunch of dummies who were fooled by Donald Trump.”

But what matters here is that it is ILLEGAL to fraudulently state your worth on loan applications. Can you GET THAT THROUGH YOUR SKULL? It is ILLEGAL to lie on those forms. 
That’s the law, Trump broke it. And not over any sort of reasonably arguable amount.  All the Trump employees were asked about how they apply generally accepted accounted principles (none of them knew) and what their processes were for assessing the values of these properties (Donald told us and we wrote that down.)

 

If they said that they evaluate the properties by comparing to other comparable properties which recently sold and adjusting in a reasonable fashion, they’d have been fine. But they had no defense for their egregious lies and now their CFO is going to jail AGAIN, this time on Felony perjury for lying on the witness stand in this case.  
 

Why can’t you understand that it has been proven over and over again that this guy is a fraud and a criminal?  
 

Wake up!  You are brain washed.  EVERYTHING about this case is laid out in public record.  You can read all of the facts for yourself. The Trump Organization lied repeatedly, over a period exceeding a decade, not by 20% but by hundreds of percents, in stating the value of Trump’s assets.  It is not legal to do this, for good reason. 
 

Finally: The man who said he’s worth ten billion dollars and has “$400 million cash on hand” cannot get w BOND for $485 million.  It’s because he cannot put up $485 million in assets to the bonding agencies to guarantee repayment.  

Edited by Rebound
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3 hours ago, Yakuda said:

It was fraud not lying.

LMAO!  Do I think it's possible to only be a little bit pregnant?

This btw is probably the result of religion crippling your ability to reason.

You'll believe anything.

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28 minutes ago, Rebound said:

Wake up!  You are brain washed.  EVERYTHING about this case is laid out in public record.  You can read all of the facts for yourself. The Trump Organization lied repeatedly, over a period exceeding a decade, not by 20% but by hundreds of percents, in stating the value of Trump’s assets.  It is not legal to do this, for good reason. 
 

Finally: The man who said he’s worth ten billion dollars and has “$400 million cash on hand” cannot get w BOND for $485 million.  It’s because he cannot put up $485 million in assets to the bonding agencies to guarantee repayment.  

I'm brainwashed? You have prosecutor whose entire campaign was "getting Trump" getting a ridiculous judgement without a jury for using a law that has never been used in the way it was. Every penny of which isn't going to anyone who was "defrauded" but the state alone.

I am still trying to figure out how they came to a 385million dollar penalty for something all real estate moguls do that no one besides Letitia is complaining about.

New York changed the laws around civil sexual assault just so E. Jean Carroll could sue Trump and then you had a Democrat judge who decided even though the jury said Trump DIDN'T rape her that he really did so he gave her a defamation award for 83 million dollars just because Trump said he didn't rape her.

Alvin Bragg is going after him for something that is beyond the statute of limitations claiming he broke federal law that doesn't have a statute of limitations so he can go after Trump even though the federal government didn't go after him at all for it.

I am the one who is brainwashed though because I think this was all politically motivated because there is no evidence there, right?

In the end everyone knows once these cases are appealed the penalties will go way way down or even get completely dismissed.

I hope you all remember what is happening here because we won't and what is good for the goose is good gander.

 

 

 

 

 

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