"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.

  • zeppo@lemmy.worldEnglish
    29·
    9 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.

    • Che Banana@lemmy.mlEnglish
      7·
      9 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

  • snooggums@midwest.socialEnglish
    8·
    9 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?