Trump Must Pay Half a Billion Dollars Before He Can Appeal New York Decision

[mystery-ak]

Trump Must Pay Half a Billion Dollars Before He Can Appeal New York Decision

Joel B. Pollak 19 Feb 2024

Former President Donald Trump must pay nearly half a billion dollars as a bond to New York State before he can appeal the ruling by Judge Arthur Engoron last week that he must pay $354 million in fines — over $450 million, with interest — for fraud.

Critics have noted that Trump is the only person ever to be sued under an obscure New York fraud statute that does not require any harm be done, and that effectively criminalizes the everyday practice of real estate valuations in negotiations with banks.

Though Attorney General Letitia James — who ran for office promising to target Trump — claimed that no one is above the law, her case against Trump marks the only such case in the history of the state. And the staggering fine is likewise unprecedented.

Jonathan Turley points out another astonishing fact at the New York Post: before he can appeal, Trump must pay the whole fine:

    Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio.

    Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.

    The excessive fine and its basis raise serious statutory and constitutional questions. Many of us believe it should be substantially reduced or tossed out entirely.

Engoron also refused to allow Trump to mount any defense, declaring Trump guilty via summary judgment for the state.

https://www.breitbart.com/politics/2024/02/19/trump-must-pay-half-a-billion-dollars-before-he-can-appeal-new-york-decision/

[Smokin Joe]

Implode the tower, leave the rubble, and tell New York to Eff off.

[Hoodat]

Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account.

New York law is unconstitutional.

[Hoodat]

Amendment VIII

Excessive bail shall not be required, nor excessive fines imposed, nor cruel and unusual punishments inflicted.

[libertybele]

New York law is unconstitutional.

Claim bankruptcy and move businesses elsewhere.

[libertybele]

Trump Must Pay Half a Billion Dollars Before He Can Appeal New York Decision

Joel B. Pollak 19 Feb 2024

Former President Donald Trump must pay nearly half a billion dollars as a bond to New York State before he can appeal the ruling by Judge Arthur Engoron last week that he must pay $354 million in fines — over $450 million, with interest — for fraud.

Critics have noted that Trump is the only person ever to be sued under an obscure New York fraud statute that does not require any harm be done, and that effectively criminalizes the everyday practice of real estate valuations in negotiations with banks.

Though Attorney General Letitia James — who ran for office promising to target Trump — claimed that no one is above the law, her case against Trump marks the only such case in the history of the state. And the staggering fine is likewise unprecedented.

Jonathan Turley points out another astonishing fact at the New York Post: before he can appeal, Trump must pay the whole fine:

    Under New York law, Trump cannot appeal this ruling without depositing the full amount, including interest, in a court account. Even for Trump, $455 million is hard to come by. Likewise, a bond would require a company to guarantee payment for a defendant who has been barred from doing business in New York and is facing the need to liquidate much of his portfolio.

    Nothing succeeds like excess for judges like Engoron. By imposing this astronomical figure, he can make it difficult or impossible for a defendant to appeal, absent declaring bankruptcy or selling off assets at distress prices.

    The excessive fine and its basis raise serious statutory and constitutional questions. Many of us believe it should be substantially reduced or tossed out entirely.

Engoron also refused to allow Trump to mount any defense, declaring Trump guilty via summary judgment for the state.

https://www.breitbart.com/politics/2024/02/19/trump-must-pay-half-a-billion-dollars-before-he-can-appeal-new-york-decision/

I had no idea that he refused to allow Trump any defense.  How is that lawful???  He's guilty because the judge has a liberal vendetta against him.

[mystery-ak]

I had no idea that he refused to allow Trump any defense.  How is that lawful???  He's guilty because the judge has a liberal vendetta against him.

That's about it..I was trying to explain this to Mike at supper tonight and he said I must have it all wrong..there has to be a crime...lol

The crime is he is TRUMP!

[mystery-ak]

Maybe he should sell everything off in NY and start all over in Fla with his sons..he would actually come out ahead financially...I think...lol

[Hoodat]

What would John Galt do?

[libertybele]

Maybe he should sell everything off in NY and start all over in Fla with his sons..he would actually come out ahead financially...I think...lol

Perhaps.  NY is becoming a cesspool with all the ILLEGALS and judges aren't exactly going to rule in his favor.  He needs to get out of NY.  Tiffany and her husband are living in Miami and IIRC Don Jr. and Ivanka also live in FL.  So ... I'd say it's time to make a move.  They already have Mar a Lago, so why stay in NY other than it's going to be a royal pain to sell, move and restructure the businesses.

[Sighlass]

Killdozer time?

[cato potatoe]

Perhaps.  NY is becoming a cesspool with all the ILLEGALS and judges aren't exactly going to rule in his favor.  He needs to get out of NY.  Tiffany and her husband are living in Miami and IIRC Don Jr. and Ivanka also live in FL.  So ... I'd say it's time to make a move.  They already have Mar a Lago, so why stay in NY other than it's going to be a royal pain to sell, move and restructure the businesses.

I've heard they cannot sell the NY properties or use them as collateral (for bonds) unless the ruling is stayed.  It seems nonsensical, but NY is a risky and expensive place to operate.

[oldno7]

What would John Galt do?

Who is John Galt

[mystery-ak]

 The NYC skyscraper Trump could dump to pay off $355M fraud fine — and it doesn’t even bear his name
By Social Links for Steve Cuozzo
Published Feb. 20, 2024, 6:00 a.m. ET


As Donald Trump faces $355 million in court-ordered penalties for conspiring to overstate his worth, all eyes are on his most valuable, if unsung, New York City asset — 1290 Sixth Avenue, an office building where he owns a 30% passive stake.

The tower at West 52nd Street is 70% owned by Vornado Realty Trust, which is headed by Trump’s longtime friend Steven Roth. Although Trump’s name appears nowhere on the building, his minority ownership could be his salvation.

All he needs to do is sell it.

“It would be ironic,” one major Manhattan landlord said, “if Donald escapes by way of a building that doesn’t have his name on it.”

Trump also owns 30% of Vornado’s 555 California St. in San Francisco, an office market in much worse shape than New York’s.

Judge Arthur Engoron put Trump in a deep pickle: He must put up the money before he can appeal the ruling.

CBRE power-dealmaker Stephen B. Siegel, who brokered several Trump transactions including for the Gucci lease at Trump Tower, told The Post, “His part of 1290 Sixth could be worth $600 million before debt.” The tower was refinanced with a $950 million commercial mortgage-backed securities loan in November 2021.

more
https://nypost.com/2024/02/20/business/the-nyc-skyscraper-trump-could-dump-to-pay-off-355m-fraud-fine-and-it-doesnt-even-bear-his-name/

[catfish1957]

In addition to the Trucker's strike, I wish I could influence our oil lobby to conduct an all out embargo of hydroocarbon fedstocks, intermediates, and final products to the entire state of NY.   Let them ride the Greenie Puke EV's.

Then watch the whole f'ing place implode.

[Free Vulcan]

Maybe he should sell everything off in NY and start all over in Fla with his sons..he would actually come out ahead financially...I think...lol

I would. It's going to get so messed up there that real estate values are going to collapse. Sell it as high as you can get for it right now, while loudly telling every other rich person via the in NY via the media that 'you're next'.

[rustynail]

Don't do the crime if you can't pay on time.

[mystery-ak]

https://twitter.com/simonateba/status/1760066134697554069

[Hoodat]

Well...that's gonna leave a mark.

That lady is full of hate and evidently the jury is as well.

What jury?

[libertybele]

Well...that's gonna leave a mark.

That lady is full of hate and evidently the jury is as well.

IOW she is a complete biotch!

Right now they are determining the outcome of an election!

[Hoodat]

Although Trump’s name appears nowhere on the building, his minority ownership could be his salvation.

All he needs to do is sell it.

He shouldn't have to sell it.  He should be able to put up a property bond.  And the State of NY can't say 'no' to that because they are the ones affirming the value of his properties.  So Trump should put up his 30% stake without selling it.

Consider what could go wrong if Trump was forced to sell to raise cash.  Let's say he sells, and then wins his appeal.  The State refunds that cash, but the price of the building doubled.  So to be made whole, Trump would need twice the money.  And in that event, the State of New York would be obligated to return double the money.

[libertybele]

He shouldn't have to sell it.  He should be able to put up a property bond.  And the State of NY can't say 'no' to that because they are the ones affirming the value of his properties.  So Trump should put up his 30% stake without selling it.

Consider what could go wrong if Trump was forced to sell to raise cash.  Let's say he sells, and then wins his appeal.  The State refunds that cash, but the price of the building doubled.  So to be made whole, Trump would need twice the money.  And in that event, the State of New York would be obligated to return double the money.

I think it is very doubtful that he'd win his appeal.

He'd be better off selling and opening his business in a state less restrictive, less expensive and more tax friendly.

[massadvj]

Maybe he cannot appeal in New York, but why can't he appeal to federal courts on constitutional grounds?

[libertybele]

Maybe he cannot appeal in New York, but why can't he appeal to federal courts on constitutional grounds?

He'll never win an appeal in NYC.  Perhaps NY supreme court?