Donald Trump posted a $175 million bond on Monday in his New York civil fraud case, halting collection of the more than $454 million he owes and preventing the state from seizing his assets to satisfy the debt while he appeals, according to a court filing.
A New York appellate court had given the former president 10 days to put up the money after a panel of judges agreed last month to slash the amount needed to stop the clock on enforcement.
The bond Trump is posting with the court now is essentially a placeholder, meant to guarantee payment if the judgment is upheld. If that happens, the presumptive Republican presidential nominee will have to pay the state the whole sum, which grows with daily interest.
If Trump wins, he won’t have to pay the state anything and will get back the money he has put up now.
I’m curious as to how a $175M bond is supposed to guarantee a $454M judgment.
Didn’t you read?? It grows with daily interest! 🙌
/s
The appeals court lowered it to this amount. This could be a hint that the judge didn’t calculate the original amount correctly. Meidas Touch on YouTube did a video about it. I haven’t seen any good articles which repeat the same idea.
No they didn’t they lowered the amount he has to put up for an appeal
I replied to someone stating the same. You’re just repeating what has been said. I never said I wasn’t talking about the bond.
The idea is the real estate isn’t going anywhere. It is technically not what the bond laws say is needed, but then this is a very large amount. This dude is being reamed and the state is not going to let him off the hook.
It would be career suicide in NYC. Most of the city and metro area hate Trump’s guts.
They are letting him off the hook by not making him bond the whole amount.
The amount was high because his fraud was high. Why does committing bigger crimes mean less proportionate punishment?
You have the right idea. Obviously they should have made him pay the full amount. I think they know he literally doesn’t have it.
Remember, the state has a retired judge watching his bank accounts for a while now. They know what he can pay. $175 million in cash is better than them seizing his property quickly because that process is actually very slow.
For everyone who thinks the state should just “take Trump Tower”, do you understand that’s not something they’re good at? They would need to find a buyer. You can’t just get a buyer for such a large building in a few days. They really would prefer cash for at least part of the fine.
The building isn’t going anywhere and this doesn’t affect the judgement.
Then just take all his shit or admit the system can’t adequately punish the wealthy out loud instead of pretending that this is somehow a reasonable response to someone saying they can’t pay. They can seize regular people’s property after all.
Assume for a moment that the appeal comes back and overturns the judgment. Let’s even assume that it is a completely legitimate reason for it being overturned.
How do you unwind taking that property and selling it? My understanding is that NY doesn’t have a redemption law for property that is levied and sold.
The appeals court has to at least consider the possibility of legitimately overturning the case.
Who fucking cares? He is a rich asshole who committed blatant fraud and tried to overthrow the government and worst case is is slightly less wealthy than he was before court while the average person is flat broke from lawyer fees and their lives ruined from the same situation.
Shilling for Trump should make you embarrassed.
I think you don’t understand how asset forfeiture works. Trump tower is worth (reportedly) some $800m. The state seizes and sell it for the $500m he owes. They would find a buyer pretty quickly at that price. Any extra on top of the judgment amount is returned with compliments to Trump.
I don’t understand. Still, from what I’ve read most of the buildings are anything but fully owned by Trump. And apparently that makes things difficult.