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this post was submitted on 25 Mar 2024
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politics
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This is the best summary I could come up with:
Less than a day before Donald Trump‘s deadline to post a $464 million bond or risk his assets getting seized by the New York State Attorney General’s Office, his children are going to the media to complain about the cash squeeze.
“Every single person when I came to them saying, ‘Hey, can I get a half-billion dollar bond?’” the younger Trump brother told Fox host Maria Bartiromo, “Maria: they were laughing.
Trump needs to secure the $464 million bond to appeal the ruling in the New York State case where the Trump Organization was convicted of inflating property values and lying about assets to receive loans and reduce taxes.
Trump is facing a $3 billion windfall for his social media company Truth Social going public, but the funds are several months out from landing in his account, and he has shown previously that he does not currently have enough liquid funds to post the bond outright, though his family has yet to admit it.
Contrary to the younger Trump’s complaints about how hard it is to secure a half-billion dollar bond, the ruling makes clear that the bond does not need to be funded from a single surety or lender.
Aside from Eric Trump ranting about failing to help his father, he also used his time on television to estimate that Mar-a-Lago is valued at a billion dollars and argue his dad “built the skyline of New York” (this isn’t the first time Eric Trump has made this claim), both of which seem ironic given that lying about property values and assets was what led to this trouble in the first place.
The original article contains 399 words, the summary contains 272 words. Saved 32%. I'm a bot and I'm open source!