How will Donald Trump pay the $438m he owes in penalties from civil trials?

[Hawkeye10]

It was raped first then murdered

WAKEY WAKEY....I was on the alarms hard for a long time....rarely did my fellow 'Mericans give a fuck.

Now comes the pain....I have no more tears to give.

 

[Yakuda]

He can get the money from a bank for collateral and proof that he can pay it.

You mean like he did in this case?

 

[Yakuda]

WAKEY WAKEY....I was on the alarms hard for a long time....rarely did my fellow 'Mericans give a fuck.

Now comes the pain....I have no more tears to give.

Most don't give a fuck now. If they did we wouldn't have brain dead twat in the WH

 

[Hawkeye10]

Most don't give a fuck now. If they did we wouldn't have brain dead twat in the WH

Willful blindness Jordan Peterson calls it though I think this ignores the massive ignorance of the America people....they can not see what is happening in part because they cant imagine it....they never made even the first effort to learn history....or to understand the nature of man....the human condition.

 

[Yakuda]

Willful blindness Jordan Peterson calls it though I think this ignores the massive ignorance of the America people....they can not see what is happening in part because they cant imagine it....they never made even the first effort to learn history....or to understand the nature of man....the human condition.

Right. Leftists invaded education and have been patiently making Americans increasingly more stupid for decades.

 

[QP!]

No what law? Give us the code.

Trump Keeps Attacking This Statute In N.Y. Fraud Case—Here’s Why His Claims Lack Merit

James sued Trump, his business associates—including his sons—and the Trump Organization for alleged fraud under New York Executive Law 63(12), which empowers the attorney general to go to court against anyone who “engage in repeated fraudulent or illegal acts or otherwise demonstrate persistent fraud or illegality in the carrying on, conducting or transaction of business.”

The statute allows the attorney general to ask a state judge to stop the business from continuing its activities and fraudulent acts, force the defendants to pay damages or other restitution and, if necessary, order business certificates to be canceled.

Judge Arthur Engoron has already found Trump and his company violated 63(12) by fraudulently misstating the value of their assets on financial documents...

...

The statute does not require intent to commit fraud or anyone to be harmed by the fraud,...

.

 

[QP!]

It was raped first then murdered

Funny how magats only now care about the need to post Bond when it has been around for decades.

That is because Trump LOST the case, so the $400MM is not really his currently. It belongs to the State, who won the suit.

But the law says you can appeal. You can TRY and get a do over and win it back which can take years.

So there is no way the LOSER should get to hold the money for years and potentially blow it all or find ways to transfer it so if they lose or denied the appeal the prior winner cannot find any funds.

That is why it is rational and logic to make the LOSER put up a bond. You could also just make them PAY the winner and if they win the appeal they then get it back. But we can see how that could pose the same problem right? Thus why the loser paying the bond makes the most sense.

 

[LurchAddams]

Can Trump's base raise half a billion dollars? I seriously doubt it?!! And we have not even gotten to the capitol police lawsuits against Trump yet?!!

[FONT=&]In a matter of weeks, Donald Trump was hit with two giant penalties from two civil trials in New York – $83m for defamation against the writer E Jean Carroll and $354.9m for inflating the value of his assets on government financial statements.

The verdicts combined will cost him some $438m, and that’s only part of what Trump could owe across numerous lawsuits. The payments will probably create a sizable dent in his wallet. Bloomberg’s billionaires’ list estimated that Trump’s net worth in 2021 was about $2.3bn, meaning these two rulings alone could take out almost a fifth of Trump’s net worth.

Trump’s finances have been notoriously opaque, not least because the Trump Organization is a private business, meaning it does not have to file public financial reports. But here’s what we know about what Trump has to pay and how it will affect his finances

It all depends on the appeals

Trump is likely to appeal both cases, the outcomes of which could affect how much he ends up owing. It is unclear how long the appeals will take. For reference, an appeals court has yet to rule on a May 2023 ruling for a separate Carroll case that found Trump guilty of sexual abuse and defamation. Trump was ordered to pay $5m in damages in that case.

Also, the appeals court is technically considering two appeals coming out of Trump’s fraud trial. The first appeal came after a September pre-trial ruling found Trump guilty of fraud, ordering the removal of his business licenses. The second appeal is about the penalty the New York judge Arthur Engoron ordered Trump to pay after the months-long trial. It is unclear whether the appeals court will decide on the two appeals together or separately, but it will probably be at least a few months before any decision is announced.

Bankruptcy for Trump is unlikely

While $438m is no small sum, Trump is wealthy. Trump ally Rudy Giuliani declared bankruptcy after a jury ordered him to pay $148m to two Georgia election workers; the former New York mayor has declared he owes between $100m and $500m and has assets of between $1m and $10m.

To declare bankruptcy, Trump would have to prove that the verdict outweighs his assets, something that is highly unlikely.

During a deposition with prosecutors for the fraud trial in April 2023, Trump said that he had more than $400m in cash. However, last year, Forbes reported that Trump had since invested the bulk of his cash in bonds and treasuries, with a small portion kept in stocks and mutual funds. After his guilty verdicts, Trump will probably have to sell a good chunk of those investments.

A big question is whether Trump will have to touch anything in his real estate portfolio. Trump has gotten a cash boost from selling his properties before: he sold his golf club in the Bronx last year, and in 2022, he completed the sale of the Old Post Office building in Washington DC, which was converted into a hotel. Court documents showed that the sale of the Old Post Office netted $131.4m before taxes, according to the New York Times.

It will be a tough decision for a man who, just several years ago, claimed he was worth $10bn. This pride in his wealth has recently been used against him. In closing arguments in Carroll’s January trial, her lawyers told the jury that they should punish Trump with higher damages precisely because he claims he is so wealthy.

[/FONT]“A billionaire like Donald Trump could pay a million dollars a day for 10 years and still have money left in the bank,” Carroll attorney’s Roberta Kaplan told the jury on 26 January. “It will take an unusually high punitive damages award to have any hope of stopping Donald Trump.”[FONT=&]

https://www.theguardian.com/us-news/2024/feb/16/how-will-trump-pay-trial-penalties
[/FONT]

He'll have to mortgage some or all of his properties or be held in contempt. It couldn't happen to a nicer rapist and traitor.

 

[Hawkeye10]

Right. Leftists invaded education and have been patiently making Americans increasingly more stupid for decades.

Starting with the schools of education, the old teachers colleges....I noticed that Michigan States school of education was subverted by 1985 in my conversations with some of its students I met on campus.

 

[LurchAddams]

Trump knows what he has to do, to get that money.

Funny but also sad and true!

 

[QP!]

Right. Leftists invaded education and have been patiently making Americans increasingly more stupid for decades.

And yet it is red America that is brimming full of our stupidest citizens and pushes to now elect, deliberately the most stupid people in their ranks like Marjorie Greene, Boebert and Trump.

 

[LurchAddams]

How was the state harmed? That is simply enriching a party that had no part in the actions of the parties involved. That is contrary to US law and obviously unfair and unequal.

So you must want to defend Bill Clinton for his impeachment for perjury. Even though Clinton committed perjury, no one was harmed, right?

 

[QP!]

He'll have to mortgage some or all of his properties or be held in contempt. It couldn't happen to a nicer rapist and traitor.

Trump has always been known to, and he has bragged about, how much leverage (debt) he uses in his properties.

Based on his history of fraud and lies, he almost certainly is well over the leverage any normal person would get.

I would not be shocked if we find out his total debt exceeds the liquidation value of ALL his assets, and thus he is bankrupt and was actually technically bankrupt for many years, and was just managing to keep refinancing to manage the debt payments without defaulting.

Regardless i doubt very much he can borrow a penny more versus his assets as anyone who would lend to him has to do so with NO FINANCIAL DISCLOSURE whatsoever. Trump has no CFO, he and the kids cannot act or sign on behalf of the company. Any lender would be doing so almost blind against over $500MM in NEW DEBT (E Jean and NYS) with a reported estimated $100MM IRS fine expected to come out soon, and the lawsuit for Jan6th by the Capital Police, and Eric Swalwell and others being greenlight to now proceed which will almost certainly be another $100M+ judgement.

Any new lender would be suicidal to lend money into that mess, because all debtors will likely be getting cents on the dollar in a bankruptcy liquidation.

 

[LurchAddams]

Fines are levied for criminal offenses and for specific civil offenses where the state is the party harmed, like traffic offenses like parking or speeding.

Since the state was not party to anything Trump did, there was no harm to the state. The trial was civil, so the harmed party had to be someone dealing with Trump.

How about other parties who did everything right, submitted valid financial statements and were turned down because Douche Bank had overextended itself lending millions to trump? Harm was inflicted on the marketplace. That's the issue.

Also, Douche bank could have charged higher interest loans had they known trump's true net worth was lower than he claimed.

 

[Yakuda]

.

I will look at it

 

[LurchAddams]

Trump has always been known to, and he has bragged about, how much leverage (debt) he uses in his properties.

Based on his history of fraud and lies, he almost certainly is well over the leverage any normal person would get.

I would not be shocked if we find out his total debt exceeds the liquidation value of ALL his assets, and thus he is bankrupt and was actually technically bankrupt for many years, and was just managing to keep refinancing to manage the debt payments without defaulting.

Regardless i doubt very much he can borrow a penny more versus his assets as anyone who would lend to him has to do so with NO FINANCIAL DISCLOSURE whatsoever. Trump has no CFO, he and the kids cannot act or sign on behalf of the company. Any lender would be doing so almost blind against over $500MM in NEW DEBT (E Jean and NYS) with a reported estimated $100MM IRS fine expected to come out soon, and the lawsuit for Jan6th by the Capital Police, and Eric Swalwell and others being greenlight to now proceed which will almost certainly be another $100M+ judgement.

Any new lender would be suicidal to lend money into that mess, because all debtors will likely be getting cents on the dollar in a bankruptcy liquidation.

Maybe trump can go hat in hand to Jarod and Ivanka to see if they'll pony up some of the $2 billion they grifted from Saudi Arabia on America's dime?

 

[T. A. Gardner]

How about other parties who did everything right, submitted valid financial statements and were turned down because Douche Bank had overextended itself lending millions to trump? Harm was inflicted on the marketplace. That's the issue.

Also, Douche bank could have charged higher interest loans had they known trump's true net worth was lower than he claimed.

Do you really think that any large bank doesn't do their own homework? How fucking stupid do you think banks are? They aren't going to just give Trump money because of what he put on a loan application. They will double check for themselves. And, they did and even told the court that. Didn't matter because the judge and prosecutor had already put the fix in and the outcome was pre-decided. It was a show trial.

 

[QP!]

How about other parties who did everything right, submitted valid financial statements and were turned down because Douche Bank had overextended itself lending millions to trump? Harm was inflicted on the marketplace. That's the issue.

Also, Douche bank could have charged higher interest loans had they known trump's true net worth was lower than he claimed.

If what Magats want to believe is true than no State, seeing the massive amount of fraudulent mortgages (NINJA) pre 2008 could do anything to the firms forging them, pre 2008, because the market was hot, and people were not losing money over them.

They are saying the government could only go after the few defaults but would have to allow all the other fraud doc's to go in and then once 2007/8 collapse happens, then and only then, could they charge the fraudsters.

The State's role is to protect the integrity of its systems, so they do not get inundated with fraud and collapse and then the citizens of the State or country end up paying, as happened in 2008.

Imagine an Insurance agent lying about every one of his clients to get them better rates for their insurance. They all pay the premiums but it is the lower WRONG premiums. Even if they never get in an accident and always pay they have harmed and defrauded the system. It should have got more money from them to cover the risk.

 

[QP!]

Do you really think that any large bank doesn't do their own homework? How fucking stupid do you think banks are? They aren't going to just give Trump money because of what he put on a loan application. They will double check for themselves. And, they did and even told the court that. Didn't matter because the judge and prosecutor had already put the fix in and the outcome was pre-decided. It was a show trial.

The banks do not send out forensic auditors. They rely heavily on what you disclose to them, and if they think you are 'creative' they discount it to give themselves some margin.

No one expected the scale of frauds and lies Trump was telling, and his bank acknowledged he would not have got the loans approved had they known.

But read my prior post and ACTUALLY try to educate yourself and learn something. Learn why it was illegal to send in fraudulent mortgages even before the market collapsed and why 'people are making payments' does not forgive the fraud.

 

[Yakuda]

And yet it is red America that is brimming full of our stupidest citizens and pushes to now elect, deliberately the most stupid people in their ranks like Marjorie Greene, Boebert and Trump.

Blue.states have the retards