Trump Bond Reduced to $175 Million as He Appeals NY Fine

[mystery-ak]

https://twitter.com/TimOBrien/status/1772282736163578100

[bigheadfred]

Reading through the replies is crazy. So many crying foul. 

[DefiantMassRINO]

 

[Wingnut]

Letitia's "train" is on a short track! 

[mystery-ak]

Trump civil fraud judgement delayed, reduced to $175 million by appeals court
By
Kaelan Deese
March 25, 2024 11:29 am
.

A New York appeals court on Monday reduced former President Donald Trump‘s civil fraud judgment to $175 million and granted a 10-day delay to pay the reduced bond.

The appeals court’s decision came on the same day that the grace period for Trump to pay his $464 civil fraud trial judgment from February was set to expire.

This is a developing story and will be updated.

[mystery-ak]

Trump's $454M judgment bond slashed by more than half in appeals court ruling
Trump had faced a Monday deadline to pay $454 million
By Brooke Singman , Anders Hagstrom Fox News
Published March 25, 2024 11:33am EDT


An appeals court slashed former President Donald Trump's bond payment on Monday, saying Trump must pay $175 million within the next 10 days.

Trump had previously faced a Monday deadline to pay a $464 million bond payment that came as a result of civil fraud allegations from New York Attorney General Letitia James.

Trump, the 2024 presumptive GOP presidential nominee, and his legal team had appealed and requested a stay on his $454 million civil fraud judgment. Trump's legal team said the initial requested bond was "unprecedented for a private company," and said to post it in the judgment's full amount was a "practical impossibility."

A New York Appeals Court, hours before the deadline to post the $464 million, lowered that bond considerably. The court ordered that Trump post $175 million within 10 days.

If Trump does post the $175 million by the new deadline, it would effectively block James from attempts to seize Trump's assets, as he continues to appeal the judgment by New York Judge Arthur Engoron.

Trump has vowed to fight the case "all the way up to the U.S. Supreme Court if necessary."

more
https://www.foxnews.com/politics/trumps-454m-judgment-bond-slashed-more-than-half-appeals-court-ruling

[mystery-ak]

On Truth Social

Avatar

Donald J. Trump

@realDonaldTrump

Judge Engoron has refused to obey the decision of the Appellate Division relative to the Statute of Limitations. This is a confrontation between a Judge and those that rule above him - A very bad situation in which to place New York State and the Rule of Law! Engoron has disrespected the Appellate Division and its very clear and precise ruling. He should be made to do so, and at the same time, release the GAG ORDER. This is the 5th time in this case that he has been overturned, a record. His credibility, and that of Letitia James, has been shattered. We will abide by the decision of the Appellate Division, and post either a bond, equivalent securities, or cash. This also shows how ridiculous and outrageous Engoron’s original decision was at $450 Million. I DID NOTHING WRONG, AND NEW YORK SHOULD NEVER BE PUT IN A POSITION LIKE THIS AGAIN. BUSINESSES ARE FLEEING, VIOLENT CRIME IS FLOURISHING, AND IT IS VERY IMPORTANT THAT THIS BE RESOLVED IN ITS TOTALITY AS SOON AS POSSIBLE. THANK YOU!

Avatar

Donald J. Trump

@realDonaldTrump
·
3m

Judge Engoron and Letitia James should be forced to explain why he ruled that Mar-a-Lago was worth $18,000,000 when, in fact, it is worth from 50 to 100 times that amount. How did the Attorney General of the State of New York force this Corrupt Judge to do that in order to help her narrative - AND WHY?

[libertybele]

Letitia's "train" is on a short track!

Brain or train???

[libertybele]

Reducing bond to $175 million -- that's still absurd and Judge Engoron needs to lose his seat and be disbarred.

[cato potatoe]

It doesn't help when Trump keeps posting the nonsense about Mar-a-Lago.  Nobody would buy a private club for $900M or $1.8B.  The very notion is laughable, when you look at the nearby properties, although I'm sure the city of PB would love to bill him $32M/year in real estate tax.

[libertybele]

It doesn't help when Trump keeps posting the nonsense about Mar-a-Lago.  Nobody would buy a private club for $900M or $1.8B.  The very notion is laughable, when you look at the nearby properties, although I'm sure the city of PB would love to bill him $18M/year in real estate tax.

??? Why wouldn't they pay it?? It's in a prime location in FL.  I would think by now that he would have had the property appraised. Perhaps he did, I haven't been following the case all that much.

[LMAO]

I knew this was going to happen

You don’t use the legal system to bankrupt somebody just because you don’t like that person’s politics

[libertybele]

So, I visited the Mar a Lago website - the place looks like it would be valued at a hefty sum.  Palm Beach is one of the most affluent areas in FL.

Most homes on the water in Palm Beach bring in a hefty multi-million dollar price tag.   A lot on the water on Ocean Front Blvd., is going for $150M which is the same area as Mar a Lago.

https://www.maralagoclub.com/

https://www.realtor.com/realestateandhomes-detail/1980-S-Ocean-Blvd_Palm-Beach_FL_33480_M93643-15320?from=srp-list-card

[libertybele]

I knew this was going to happen

You don’t use the legal system to bankrupt somebody just because you don’t like that person’s politics

Well, I'm glad that you were right -- do you think anything is going to happen to Judge Engernon (or however you spell it).?

[cato potatoe]

??? Why wouldn't they pay it?? It's in a prime location in FL.  I would think by now that he would have had the property appraised. Perhaps he did, I haven't been following the case all that much.

A private club is heavily restricted in use, and as a historic property it can't be altered significantly.  The market value would be higher than the tax value, but probably an order of magnitude lower than what Trump says.

All of these chattering heads on Fox News should band together and buy the club from Trump for $500M. 

[Free Vulcan]

Wonder if Trump's partners bent some ears and got things reduced.

[LMAO]

Well, I'm glad that you were right -- do you think anything is going to happen to Judge Engernon (or however you spell it).?

You’ll have to ask that question to any attorneys here, but why would anything happen to him?

[mystery-ak]

Trump to speak to the press soon...PLEASE just thank the appeals court...

[DefiantMassRINO]

Trump has ten days to get the money, but also ten more days to appeal everything and appeal to have the judgement invalidated.

Tangerine Mussolini has a gift for running out the clock.

[mystery-ak]

https://twitter.com/bennyjohnson/status/1772299066493313246

[libertybele]

Trump to speak to the press soon...PLEASE just thank the appeals court...

Oh, come on ... you know he's got a mouth full for the press.

[mystery-ak]

https://twitter.com/atrupar/status/1772309777948803123

[mystery-ak]

https://twitter.com/atrupar/status/1772309066334789945

[mystery-ak]

https://twitter.com/atrupar/status/1772310708442599591

[mystery-ak]

https://twitter.com/MAGAIncWarRoom/status/1772312005451321345

[libertybele]

It is election interference. They will continue to drag him in and out of court and fine him.

[mystery-ak]

https://twitter.com/RNCResearch/status/1772313656434299014

[Right_in_Virginia]

Trump has ten days to get the money, but also ten more days to appeal everything and appeal to have the judgement invalidated.

Tangerine Mussolini has a gift for running out the clock.

You're witnessing the government trying to bankrupt a political opponent and you're calling the target of the lawfare Mussolini?  What is wrong with you?

[Right_in_Virginia]

Wonder if Trump's partners bent some ears and got things reduced.

Who are these partners you're wondering about?

[DCPatriot]

Trump has ten days to get the money, but also ten more days to appeal everything and appeal to have the judgement invalidated.

Tangerine Mussolini has a gift for running out the clock.

https://www.youtube.com/watch?v=0x-fkSYDtUY

[Right_in_Virginia]

What’s your collateral for the bond?

CASH - Donald Trump (Video)

https://twitter.com/AlecLace/status/1772306844809040341

[Right_in_Virginia]

President Trump: "I thank the Appellate Division for acting quickly, but Judge Engoron is a disgrace to this country, and this should not be allowed to happen.". (Video)

https://twitter.com/TrumpWarRoom/status/1772294799581700171

[Free Vulcan]

Who are these partners you're wondering about?

His properties that Leddy James is trying to steal/confiscate - they are not solely owned by Trump. Many are partnerships and I'd guess those are bigger hitters who don't want to be drug thru court to bust them up.

[Hoodat]

Alec Lace
@AlecLace
What’s your collateral for the bond?

CASH - Donald Trump

I had thought that they weren't accepting anything but cash.

If Trump comes up with the $175 million, then the State of New York needs to put up interest in escrow DAILY, under the exact same terms as Letitia James imposed on Trump.  And if Trump wins his appeal, then the escrow is paid out to him. 

James is charging him roughly 8.9%.  So here's the math:

The State of New York will have to pony up $42,671 per day to cover the interest under the terms that the State of New York laid out.  (See:  Amendments V and XIV)

And since the State of New York insisted that interest be compounded daily, combined with the likelihood that this appeal gets postponed until after Jan 20, 2029, the State of New York would be liable for $279 million should Trump win his appeal.  That's a big giant $104 million FU to the Democrats running New York.

[roamer_1]

I had thought that they weren't accepting anything but cash.

If Trump comes up with the $175 million, then the State of New York needs to put up interest in escrow DAILY, under the exact same terms as Letitia James imposed on Trump.  And if Trump wins his appeal, then the escrow is paid out to him. 

James is charging him roughly 8.9%.  So here's the math:

The State of New York will have to pony up $42,671 per day to cover the interest under the terms that the State of New York laid out.  (See:  Amendments V and XIV)

And since the State of New York insisted that interest be compounded daily, combined with the likelihood that this appeal gets postponed until after Jan 20, 2029, the State of New York would be liable for $279 million should Trump win his appeal.  That's a big giant $104 million FU to the Democrats running New York.

That's right... Without harming the ability to counter-sue... So the FU could be way bigger than that.
And it ought to be. This kind of crap just naturally has to stop - And this is how you do it.

[roamer_1]

His properties that Leddy James is trying to steal/confiscate - they are not solely owned by Trump. Many are partnerships and I'd guess those are bigger hitters who don't want to be drug thru court to bust them up.

Don't know, one way or the other.. But good point.

[Smokin Joe]

Letitia's "train" is on a short track!

It isn't the length to the track. The bridge across the canyon (that divides law from lawfare) is out though...

[sneakypete]

I knew this was going to happen

You don’t use the legal system to bankrupt somebody just because you don’t like that person’s politics

@LMAO

Seems like you do in NY.

Trump was just fortunate enough to have the backing to fight this in court.

Who knows how many  people those scum buckets bankrupted and ruined by doing similar things to them,and unlike Trump,they didn't have the resources to fight it in court where it would see the light of day?

[sneakypete]

You're witnessing the government trying to bankrupt a political opponent and you're calling the target of the lawfare Mussolini?  What is wrong with you?

@Right_in_Virginia

It's called "eaten alive with envy  and hatred".

[sneakypete]

I had thought that they weren't accepting anything but cash.

If Trump comes up with the $175 million, then the State of New York needs to put up interest in escrow DAILY, under the exact same terms as Letitia James imposed on Trump.  And if Trump wins his appeal, then the escrow is paid out to him. 

James is charging him roughly 8.9%.  So here's the math:

The State of New York will have to pony up $42,671 per day to cover the interest under the terms that the State of New York laid out.  (See:  Amendments V and XIV)

And since the State of New York insisted that interest be compounded daily, combined with the likelihood that this appeal gets postponed until after Jan 20, 2029, the State of New York would be liable for $279 million should Trump win his appeal.  That's a big giant $104 million FU to the Democrats running New York.

@Hoodat


And it couldn't  happen to a more deserving group of people.

[sneakypete]

It isn't the length to the track. The bridge across the canyon (that divides law from lawfare) is out though...

@Smokin Joe

Doesn't matter. Any accusations or charges placed against her will be dismissed as "racism".

Some people in the America of today really ARE "more equal" than other people.

[Bigun]

It doesn't matter if, in the end, Trump only agrees to pay very little the precedent will have been set and the government will then be able to attack anyone they choose via the courts and ruin them.

[roamer_1]

It doesn't matter if, in the end, Trump only agrees to pay very little the precedent will have been set and the government will then be able to attack anyone they choose via the courts and ruin them.

That ain't what this is. He's posting a bond. He gets it back if he wins. And he will win on appeal.

[Wingnut]

It isn't the length to the track. The bridge across the canyon (that divides law from lawfare) is out though...

Maybe Nathan Wade can lay some more track ....

[Bigun]

That ain't what this is. He's posting a bond. He gets it back if he wins. And he will win on appeal.

Did you even read what I posted @roamer_1

[catfish1957]

I think it is just a matter of time before these tactics are universally practiced in this country, where once the government understands your ideological leaning, they will create faux criminal and civil attack law enforcement systems and kangaroo courts to administer "justice"

This is just the tip of the iceberg. 

p.s.  Don't tear off that matress tag.   

[corbe]

   So the RNC put up more collateral and secured the $175 million loan?

[Bigun]

https://twitter.com/DanPatrick/status/1772637334602727670

[sneakypete]

I think it is just a matter of time before these tactics are universally practiced in this country, where once the government understands your ideological leaning, they will create faux criminal and civil attack law enforcement systems and kangaroo courts to administer "justice"

This is just the tip of the iceberg. 

p.s.  Don't tear off that matress tag.   

@catfish1957

I don't  think there is anything new about the "proper authorities" looking for obscure excuses to ruin anyone they think is a threat to their power.

They have the courts,the judges,the DA's,and the list of jurors,so you KNOW they are going to use them if that is what they have to do to eliminate a "speed bump" in their drive to totalitarianism.

It's just more obvious now in this day of 24 hour news reports.

[Bigun]

https://www.iheart.com/podcast/44-the-michael-berry-show-27764850/episode/it-was-a-big-day-for-162281919/

Listen!