- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
Less than a month after New York Attorney General Letitia James said she would be willing to seize former Republican President Donald Trumpās assets if he is unable to pay the $464 million required by last monthāsĀ judgmentĀ in his civil fraud case, Trumpās 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 TrumpĀ saidĀ it has proven a āpractical impossibilityā for Trump to secure a bond from any financial institutions in the state, as āabout 30 surety companiesā 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 collateralāāa sum he simply does not have,āĀ reportedThe New York Times, despite his frequent boasting of his wealth and business prowess.
I think when we discuss large volumes of paper it is often the case that much of it is irrelevant and not overly hard to sort an analyze. EG he is asserting that its impossible for him to afford to do this. You donāt need to actually keep reading the statements of his resources to each of the 30 institutions he applied to nor all the refusals unless its likely that something therein may be meaningful. We can probably read ONE and skim another and conclude that the statement that he canāt raise the bond by pledging encumbered real estate heās constantly lied about wonāt work.