Former President Donald Trump has been unable to secure the $454 million appeal bond in the civil business fraud judgment against him, according to his attorneys said in a New York court filing this morning.
CNBC reported the attorneys for Trump and his co-defendants in the fraud case regarding the valuation of his properties said it was “impossible” for them to secure a complete appeal bond, stating that would “effectively” require “cash reserves approaching $1 billion.” They added nearly 30 surety companies were approached through four separate brokers, while “countless hours negotiating with one of the largest insurance companies in the world” did not produce the results they were seeking.
“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.
Trump and his co-defendants offered to post a $100 million bond, but an appeals court judge rejected that offer. New York Attorney General Letitia James threatened to seize Trump’s real estate assets if he failed to secure the bond.
Photo by Gage Skidmore / Flickr Creative Commons
Any agent or broker worthy of a license can see the devaluation of his real estate assets was a SHAM.
This is all the result of a sick sadistic corrupt and weaponized lawless legal system.
Bless your little ole heart LB! Most lame and pathetic comment of the day. Trumo has met the enemy face to face and it is he himself. He’s a huckster, common crook and a charlatan!
Exactly
Any Broker or Agent worthy of his license ( and I’m a Broker)would not lie about the Sq Footage of a home when seeking a loan. Because that is fraud and you could lose your license and go to jail. Just because lying and committing fraud is looked upon in certain circles as “ just doing Buisness” does not make it ok in the eyes of the law.
Trump has been a career criminal and fraudster. This is just a summary of his awful record:
Thousands of unnecessary deaths from his mishandling of Covid
Nazi rhetoric
Russian collusion
Kids in cages
30,000 documented lies
Attempt to extort a foreign leader to manufacture dirt on his opponent
Trying to subvert democracy to overturn the election he lost
Inciting a violent attack on the Capitol
Adjudicated Rapist
Admitted sexual assailant
Trump U scam
His company guilty of massive tax fraud
Inheritance fraud against his niece and disabled nephew
Convicted of business fraud
Dozens of former Trump officials denounce him as unfit for office and a threat to our democracy
His former vice president refuses to endorse him
Kept classified documents in his toilet
You summed it correctly
Lawfare at work. So many compromised and on the grift, all willing to go along to get along as long as they get their 30 pcs of silver. USA is run by corporations & every thing is politicized. This is the new world order that HW ramped up, dubya doubled down w 9-11 & 0bama tripled down w his “fundamentally transform America” crap.
Lawfare at work LMAO. Just take a look as Texass if you want to see lawfare at work. Jesus dude!
Lawfare at work. So many compromised and on the grift, all willing to go along to get along as long as they get their 30 pcs of silver. USA is run by corporations & every thing is politicized.
This is not weaponizing of the justice system. Trump’s caught in his own trap. He inflated the value of his properties to leverage loans, now the lenders (e.g. the big surety companies) are listening to their appraisers instead of the blowhard. The web of lies he created is a sticky mess. If anyone tried to weaponize the justice system it was Trump. he kept firing AG’s until he found one to rubber stamp his corrupt ideas.
100% spot on with you comment BE!
Absolutely
Very true. You’ve hit the nail on the head
He paid back the loans, the banks loaned the money. Unless you’re paying cash, your property gets appraised by the bank. If the appraiser didn’t flag it and let it go, it’s their fault. If you tell the bank your house is worth a million dollars, it’s their job to verify before they give you the money. If they give you the money, why are you criminally liable? This is ok with you because it’s Trump but, wait for it…. they will come after you next.
According to Fitch Ratings, on a population-weighted average basis, 88% of homes in U.S. metropolitan statistical areas (MSAs) were overvalued in the second quarter of 2023. The amount of overvaluation was 9.4%. In 55% of the MSAs, overvaluation was at least 10%.
Any of you out there feeling sorry for this pathetic putz, who would steal the pennies from the eyes of corpses at funerals, need serious help. He’s a proven crook, a grifter, a liar, and a thief. If you would do business with him, NO ONE should do business with you.
Yeah he should have taken money from China and let Hunter And Joe’s brother open a crack and cocaine business. Big bucks in drugs and extortion! Right puts?
Joe Briben may be brain dead now, but give credit where it is due. Over the last 50 years in the political corruption game, Biden set up an amazing money laundering, kick back and bribery scheme that is second to none, except for the Clintons…Nobody can steal as good as they have. All this other stuff is just a violation of the 8th Amendment, as their was no victim and no losses, yet the fine is excessive to the point where the defendant can’t even cover the bond needed to appeal the case. Sounds more and more like a banana republic.
I’m so glad to know that the courts feel that 454 million is in anyway fair?’what the hell? I mean there are very few people that could come up with even an eighth of that amount. It’s so obvious that this is nothing more than a political ploy to try to stop Donal Trump. Why is he the only one facing this anyway? Does the system think he was at fault? Where are the appraisals the lenders are suppose to do for their due diligence to make sure his properties are with the amount stated. If the lenders are so lacks they just throw money at Donald Trump with out getting the properties appraised like they are suppose to then why is that his fault. He isn’t an appraiser and how is it his fault nobody fact checked the square footage and make certain that the value for the loan was there that’s not Donald Trumps fault actually the appraisers should be getting hung out to dry not Donald Trump. On property values it isn’t at all up to the property owner to tell the lenders how much their property is worth!!!! Good grief if everybody would be able to do that somebody could puff the goods and tell a lender their 100,000 house is worth 500,000. Gee I wonder why lending institution have appraisals done on a property loan! Come on people anybody with half a brain should be questioning the appraisers that worked on this deal they verify sq ft and value I mean it’s not like we are dealing with novices here! Surely even Donald Trump can’t puff the goods that well all on his own with all the people involved unless the lenders and appraisers just didn’t do their jobs because if they had the huge difference in value couldn’t have happened . Donald Trump should sue the idiots that didn’t do their jobs! I’m a Realtor and I know the lenders and appraisers work hand in hand here to make sure that a loan is appropriate for the property! No room for error!!!! I have seen many deals fall thru because the property was found not be be worth loan amount after the appraisal. And believe me the deals weren’t even close to the 454 million . Appears to me that as usual somebody didn’t do their job because this should never have even been feasible in any amount let alone 454 million .As usual the good ol boys get caught and they always find somebody to blame! And in this political climate why not let’s put all this blame on Donald Trump especially when all the haters and blamers are so pure and innocent and above the law themselves. It’s nothing more than the pot calling the kettle black!
I’m sure some of his great supporters will help him out. Elon we need ya.
Agreed Steff. I am in real estate also and know appraisers do a good job. A property cannot be over evaluated to the extent that any loan is acceptable. It has to be proven by sq. footage, surrounding real estate values etc. These morons that want to accuse Trump of everything under the sun are ludicrous. Take a look at the Biden crime family and then tell me Trump is a crook. If this country doesn’t wake up to what is presently going on we will not recognize these United States in the next few years.He is a businessman capable of running a large corporation successfully and employing thousands of people. Banks do not lend money to failing corporations. Just because these dems who have no sense and cannot see the forest for the trees rant and rave on about what he has done..Will someone please tell me exactly what his transgressions are? All I see and hear are accusations with no proof. He instituted the best 4 year economy and peace in the world
with most people benefiting.. Look at things now…War all over the place and possibly more to come if China invades Tiawan, high food, drug, gas prices threats of terror attacks in our country along with power grid worries. Come on people wake up and smell the roses.
IF it can happen to him, it can happen to you…a little food for thought?)