"Trump owes this money because he fraudulently misrepresented the value of his assets—and now (oops) apparently no one will accept those assets as collateral."

cross-posted from: https://lemmy.world/post/13297800

Less than a month after New York Attorney General Letitia James said she would be willing to seize former Republican President Donald Trump’s assets if he is unable to pay the $464 million required by last month’s judgment in his civil fraud case, Trump’s lawyers disclosed in court filings Monday that he had failed to secure a bond for the amount.

In the nearly 5,000-page filing, lawyers for Trump said it has proven a “practical impossibility” for Trump to secure a bond from any financial institutions in the state, as “about 30 surety companies” have refused to accept assets including real estate as collateral and have demanded cash and other liquid assets instead.

To get the institutions to agree to cover that $464 million judgment if Trump loses his appeal and fails to pay the state, he would have to pledge more than $550 million as collateral—“a sum he simply does not have,” reportedThe New York Times, despite his frequent boasting of his wealth and business prowess.

  • @zeppoEnglish
    29•8 months ago

    I’d love for him to explain why 30 different companies won’t put up the bond for him. “Corrupt democrats”? “Very unfair”? I assume soon a big, strong man with tears in his eyes will come up and tell him how unfairly those companies treated him.

    • Apathy TreeEnglish
      11•8 months ago

      Alternate option - he was able to secure it and is making out like he can’t until the last minute to take in as much from his base as possible.

    • @lemmylommyEnglish
      11•8 months ago

      And he will call Donnie „Sir“.

  • @TropicalDingdongEnglish
    12•8 months ago

    [in a whispered voice] …keep going I’m almost there…

    • Che BananaEnglish
      7•8 months ago

      We’ve been getting edged for so long with this fucker, I’m afraid that when it finally happens and he’s gone for good my balls will just simply explode

      • @TropicalDingdongEnglish
        4•8 months ago

        Rachel Maddow has been edging Democrats for so long she can start a JOI channel on onlyfans.

  • @[email protected]English
    8•8 months ago

    …as “about 30 surety companies” have refused to accept assets including real estate as collateral and have demanded cash and other liquid assets instead.

    What do you mean someone who is charged with inflating the worth of his assets can’t use his inflated assets for collateral?