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Letitia James' office throws new wrinkle in Trump's plan (www.newsweek.com)

submitted 8 months ago by MicroWave@lemmy.world to c/politics@lemmy.world

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New York Attorney General Letitia James' office on Wednesday requested a state appeals court require former President Donald Trump to post a bond that fully covers a $454 million civil fraud judgment against him.

In court documents released on Monday, Trump's legal team argued that securing a bond in the full amount would be "a practical impossibility" for the former president. His attorneys have previously asked if Trump could pay a portion of the amount, $100 million, while he appeals the ruling.

…

"As far as the Court can infer, sureties may have refused to accept defendants' specific holdings as collateral because using Mr. Trump's real estate will generally need 'a property appraisal' and his holdings are not nearly as valuable as defendants claim," Fan wrote.

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[-] GroundedGator@lemmy.world 38 points 8 months ago

I really wish media outlets would stop framing this as "Trump harmed by person who doesn't like Trump"

The title should be

"Trump's attempt to subvert the law thwarted by the savvy prosecution team"

His plan is to avoid securing one or more bonds with his assets and instead attempt to fool the court into believing that it's absolutely impossible. The plan is not genuine and is really just another attempt at fraud.

[-] slurpeesoforion@startrek.website 23 points 8 months ago

So which is it? He's a savvy real estate billionaire? Or he's broke?

[-] Buddahriffic@lemmy.world 21 points 8 months ago

He is simultaneously strong and weak.

[-] Dkarma@lemmy.world 6 points 8 months ago

Shroedingers cheetoh

[-] pmmeyourtits@ani.social 5 points 8 months ago

Well, can't say I thought I'd be checking off double think on my bingo card today

[-] DogPeePoo@lemm.ee 18 points 8 months ago

🎻 violins out for multi-thousandaire dipshit Don

[-] Dagwood222@lemm.ee 7 points 8 months ago

https://www.newsweek.com/most-expensive-apartments-new-york-city-property-1628886

List of the most expensive apartments in New York.

For all his bluster, Trump was never a big deal in NYC real estate.

Plenty of real billionaires could pay the $600 million without a blink.

[-] autotldr@lemmings.world 7 points 8 months ago

This is the best summary I could come up with:

In court documents released on Monday, Trump's legal team argued that securing a bond in the full amount would be "a practical impossibility" for the former president.

His attorneys have previously asked if Trump could pay a portion of the amount, $100 million, while he appeals the ruling.

"Defendants' new factual allegations and legal arguments fail to support their extraordinary request for a stay based on a bond or deposit of less than one-fourth of the money-judgment amount," Fan wrote.

James brought a civil fraud lawsuit against Trump in 2022, accusing him—as well as his adult sons, Donald Jr. and Eric, and other officials with The Trump Organization—of a years-long scheme in which he inflated his net worth and the value of his assets to obtain more favorable business loans.

Trump's lawyers have said he would have to post collateral that covers 120 percent of the judgment, which would amount to more than $557 million.

The original article contains 484 words, the summary contains 189 words. Saved 61%. I'm a bot and I'm open source!

[-] Rapidcreek@lemmy.world 5 points 8 months ago

Hardass prosecutor....I'm a big fan.

this post was submitted on 21 Mar 2024

136 points (97.9% liked)

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