552

Donald Trump was supposed to have to post a $464 million bond by Monday or else the state of New York could begin collecting on the massive civil fraud judgment leveled against him earlier this year. An appeals court bailed him out, blocking collection of the judgment and giving the former president 10 days to post a drastically reduced $175 million bond.

The order is a huge win for Trump, whose assets were going to be subject to seizure if he couldn’t post nearly half-a-billion dollars by Monday. His lawyers said last week he wasn’t going to be able to come up with the money after 30 underwriters rejected him. The New York Times has reported that Trump is expected to be able to scrounge the new, reduced $175 million bond

you are viewing a single comment's thread
view the rest of the comments
[-] CaptDust@sh.itjust.works 85 points 2 years ago

Do these judges have to explain their decision? Is there an opinion published somewhere? I'd love to understand what context brought them to this conclusion, I've never heard of someone gaining leniency because they couldn't afford the fine.

There's an old saying in Tennessee, I know it's in Texas, probably in Tennessee — that says, "don't do the crime if you can't do the time"...

[-] cogman@lemmy.world 58 points 2 years ago

The published order is just that. It doesn't explain the why or whatever just "We are reducing the bond amount and not removing the other limitations of the ruling"

[-] DogPeePoo@lemm.ee 19 points 2 years ago

“…because Project 2025”

[-] Tinidril@midwest.social 1 points 2 years ago

It's actually a pretty liberal court that made the ruling.

[-] WhatAmLemmy@lemmy.world 1 points 2 years ago

Neoliberal club. Fascist conservative club. It's all the same fucking club, and you ain't in it!

[-] jballs@sh.itjust.works 14 points 2 years ago

There's an old saying in Tennessee, I know it's in Texas, probably in Tennessee

You know we're fucked when I'm nostalgic for a time when Republicans were just dumb fucks trying to make their friends rich, rather than dumb fucks trying to destroy our democracy.

[-] eskimofry@lemmy.world 3 points 2 years ago

Isn't the first one a prerequisite for the second one?

[-] kent_eh@lemmy.ca 1 points 2 years ago

Works in the opposite order too.

I guess there's a problem in that he needs the money in order to appeal.

Like everyone should have some right of appeal, and saying someone can't appeal because they're broke could be used to manipulate the justice system.

He still has to pay the whole amount if he loses the appeal.

[-] CaptDust@sh.itjust.works 8 points 2 years ago

The whole point of the bond is to prevent pointless appeals in the court (which I have to assume this will be) and, more importantly, serves as a guarantee the defendant will fulfill their obligations and pay at the end of an appeal failure, which ... trump is absolutely a risk of not paying. And these judges have now effectively cast the guarantee aside.

Perhaps, but do you agree everyone should be able to appeal?

[-] CaptDust@sh.itjust.works 1 points 2 years ago* (last edited 2 years ago)

Sure, and frankly there is nothing preventing trump from appealing. However an appeal is not a green light to ignore or discard the lower court's decision in the interim. Specifically outlined in the NY Court website

"Filing a Notice of Appeal does not stop or stay the winning side from taking steps to collect or enforce the judgment from the lower court. To put the collection on hold, you may have to ask the court for a stay. You may have to pay an amount of money equal to the judgment amount, called an undertaking, to the court while the appeal is being decided. "

And further to the point, I'd still like to understand what context he's appealing under that was so compelling. This is a financial case, the facts and accounting figures supporting the judgement will presumably not change, leaving little room for a successful appeal.

Ultimately I'm of the opinion this is a frivolous appeal, and trump will not find the full amount owed at the end of it. By lowering the bond the appeals court has neutered the purpose of securing the bond in the first place, which can only to lead to more delays and difficulties collecting in the future.

this post was submitted on 25 Mar 2024
552 points (98.1% liked)

News

36309 readers
754 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious biased sources will be removed at the mods’ discretion. Supporting links can be added in comments or posted separately but not to the post body. Sources may be checked for reliability using Wikipedia, MBFC, AdFontes, GroundNews, etc.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source. Clickbait titles may be removed.


Posts which titles don’t match the source may be removed. If the site changed their headline, we may ask you to update the post title. Clickbait titles use hyperbolic language and do not accurately describe the article content. When necessary, post titles may be edited, clearly marked with [brackets], but may never be used to editorialize or comment on the content.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials, videos, blogs, press releases, or celebrity gossip will be allowed. All posts will be judged on a case-by-case basis. Mods may use discretion to pre-approve videos or press releases from highly credible sources that provide unique, newsworthy content not available or possible in another format.


7. No duplicate posts.


If an article has already been posted, it will be removed. Different articles reporting on the same subject are permitted. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners or news aggregators.


All posts must link to original article sources. You may include archival links in the post description. News aggregators such as Yahoo, Google, Hacker News, etc. should be avoided in favor of the original source link. Newswire services such as AP, Reuters, or AFP, are frequently republished and may be shared from other credible sources.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS