Appellate Judge Refuses To Freeze Trump Civil Case Fine But Lifts Ban On Trump Seeking Loans And Running Business
“The ruling by Justice Anil Singh ratchets up pressure on Trump to either pay the full amount—nearing half-a billion dollars with interest—or put up a bond that Trump’s lawyers estimated at $550 million to hold off collection while he appeals.”
Appellate Division Judge Anil Singh turned down former President Donald Trump’s request that he be permitted to post an appeal bond in an amount less than the full lower court judgment plus interest, in order to prevent the state from seizing assets.
However, Singh paused the three-year ban on Trump seeking loans from New York banks. The appellate order also allows Trump to run his New York companies for now.
New York Trial Court Justice Arthur Engoron ordered Trump to pay $355 million and another $100 million in interest for supposedly defrauding someone. I guess the banks, even though the banks defended Trump.
Trump offered to post a $100 million bond.
But Singh said Trump has to post a bond in the full amount “to stop enforcement of the judgment” while he appeals.
The 30-day countdown to pay the fine started on February 23. He needs to post the money around March 25.
Anyway. Don’t give these people ammunition. Don’t ever brag about your wealth:
The ruling by Justice Anil Singh ratchets up pressure on Trump to either pay the full amount—nearing half-a billion dollars with interest—or put up a bond that Trump’s lawyers estimated at $550 million to hold off collection while he appeals.
Lawyers for Trump, a billionaire and Republican presidential front-runner famously boastful about the size of his wealth, acknowledged he lacks the liquidity to cover the judgment. They said he might have to unload his prized real estate in a fire sale without judicial intervention.
The appeals judge didn’t provide any reasons for his decision, which will be reviewed by an appellate panel that will look more closely at the merits of Trump’s arguments. The panel likely won’t review the issue for at least several weeks.
However, Singh gave Trump some relief from nonmonetary sanctions. In a one-page order, he suspended penalties that prohibited his two eldest sons from running the Trump Organization for two years and restricted his business from borrowing money. Lifting the restrictions could make it easier for Trump to post a complete bond.
…Notably, the witnesses for banks said that they did not lose any money on the prior deals and wanted more business with Trump. This will give banks that opportunity. Notably, a bond would still cost Trump a considerable amount even if he prevails. https://t.co/OT6qYwXk8t
— Jonathan Turley (@JonathanTurley) February 28, 2024
…This remains a daunting burden. Banks may have to weigh the merits of a novel case to judge the risk. Ordinarily, such risk or unknowns impact the conditions of the loan. Trump could take a further appeal on the deposit issue but he is presumably working the market for a loan…
— Jonathan Turley (@JonathanTurley) February 28, 2024
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Comments
Kafka could not have scripted this better. Without Google’s help.
Meanwhile Letitia James continues her abuse of campaign finance for personal benefit:
https://threadreaderapp.com/thread/1762544911205724618.html
Good grief. How is that legal?
She is a Democrat, and as you can now see, Democrats can do and say whatever they want with no consequences….
Why shouldn’t it be legal? Note that the article doesn’t call it illegal, just sleazy. This is pretty standard behavior, and Trump is not particularly different; but what makes it stand out is the hypocrisy, holding Trump to an extraordinary standard that nobody else follows, while not holding herself to the same standard.
It’s a bit like how people expect Israel to follow a standard that nobody else does, and how often the very people expressing that expectation are simultaneously behaving very differently themselves.
I’m sorry, but did you actually read any of the information at the link. There is prima facie evidence of campaign finance improprieties, both on the donation and the expenditure side. Put another way, there is WAY more evidence in that single thread James has committed campaign finance fraud than there is evidence Trump committed banking fraud.
The Democrat is not allowed to speak of those things. His purpose is to distract from what his leftist masters are doing and to provide walls of obfuscatory verbiage to justify the actions of the Democrats.
The liar keeps on lying, in service of his master, the Prince of Lies.
Wow. I knew ghost donors were a problem but not that big a one. I wonder why the FEC isn’t looking into this? Don’t answer…
Here, the NY Judiciary has an opportunity to assert independence, evidence strength and increase public confidence, and it chooses none.
He could borrow from letitia james…..
https://threadreaderapp.com/thread/1762544911205724618.html
When I got asked to look into Letitia James’ financials last week, I really wasn’t expecting to find much.
——————–
The first thing you’ll notice when you download and sort the expenditures of any politician running for reelection in a safe seat is how they use their campaign funds to supplement their lifestyles to a degree middle America could never dream of.
What do I mean? Well, in 2023 alone, James spent over $28,500 on hotels. Over $15,000 of that was spent on luxury hotels in Puerto Rico.
Then there’s the airfare. In the 5 years she’s been the New York State AG, James’ has spent over $84,000 on airfare to fly herself all over the country.
This includes private jet rentals.
————————-
Or how about this lovely old lady Barbara from Silver Springs, Maryland. Ms. Barbara, a retired 71 year old widow living in a modest townhouse, not only made 1547 donations to ActBlue at the federal level totaling more than $37,000
She also gave Letitia James $610 total in 34 separate transactions and then she sprinkled some money in Nevada, Massachusetts and Wisconsin!
I could go on but yall get the point. Almost every name I grabbed from James’ 2022 donor list had AT LEAST 200+ donations at the fed level for 2022 and tons of them had over 2,000.
The old ladies are being used to launder donations by millionaire commies to James.
This is complete BS
I think someone close to him should stay a Givesendgo
I know his ego would take a hit, but we love him and if all his supporters gave10-20 dollars, it would pay it off
Almost positive someone started one of those up the day after the judgment.
He doesn’t need charity, he just needs a reasonable loan, which he can repay by selling assets at his leisure, and thus at reasonable prices, rather than having to sell them quickly and get whatever he can for them.
There is another avenue evolving that could help Trump. Digital World Acquisition Corp., or DWAC, intends to acquire Truth Social and go public. Trump has a major stake in TS, which would significantly reward Trump.
Once and if completed, this deal will make Trump the combined company’s largest investor with more than 78 million shares. That could mean he would hold as much as 69 percent of the outstanding stock, though he will not be able to sell the shares for several months after the deal closes.
But, it is this stock-holding that Trump could use to obtain a Line of Credit and collateralized by the security itself, as opposed to his real estate holdings.
And probably being told he can’t sell them for what they’re truly worth. He will have to use the valuations of the noted real estate experts sitting on the NY bench.
That’s ridiculous. No judge can or will tell him what he can sell anything for. That’s outside any judge’s authority. If a buyer and a seller, at arms length from each other, agree on a price, that’s it. It doesn’t matter if it doesn’t reflect the asset’s “true value”, whatever that means.
I would normally agree with this. However, the court ignored the fact that the bank entered into an arms-length negotiation with Trump to issue a loan, did not rely on Trump’s representations of value, and decided based on their own evaluation of the property to issue the loan based on the value of the secured property. So, I would submit that all bets are off as to what this court would try to do.
You missed the point. This is fundamentally different, because the court has no authority to veto the sale. It’s not within its jurisdiction, whereas the case brought before it was.
Maybe Elon Musk will give him a loan.
Watch out for some prosecutor (excuse me persecutor) try to have it declared illegal campaign contributions or some such nonsense and seize the funds.
So don’t donate more than the max allowed for one individual.
We should all be looking at ways beyond what NY is doing to destroy the state. Boycott their business’s Foe example, I have been buying stainless hardware from a company there for years. That ends now.
There is a gofundme.. I donated a very modest amount..over a million now.
I’m in, Let’s do it.
I don’t support gofundme.. but.. here.
It is interesting to see the donations.. etc.. people are pissed.
https://www.gofundme.com/f/stand-with-trump-raise-the-settlement?qid=52b537adba0ce62c3231e73b9656f61a
Gofundme is run by leftists. How have they not shut it down yet?
Ted Stevens comes to mind
“Lifts ban on Trump getting loans.”
Bans on presidential candidates are being lifted slowly but surely. The only ban that will never be is lifted is the ban on Biden getting a cognitive test. That is verboten.
White House doctor says that physically, Biden is fit as a fiddle. There’s obviously no need to check for mental fitness because he doesn’t make any decsisions other than deciding what flavor of ice cream to eat.
I wonder if he could avoid the bond by choosing to file a new de novo 1983 lawsuit for $400M in Federal Court for damages on the grounds that his Constitutional rights under the 8th and 14th Amendments were violated. This could, conceivably, be done without appealing the judgement. Then he might do a Chapter 11 because he does not have the liquidity to pay the fine and come out of chapter 11 if and when he wins his own lawsuit. Just thinking out loud.
Interesting idea. I don’t think it works, but it’s certainly worth considering.
In a word–no, The bond is a prerequisite for having his appeal heard. He certainly can initiate a collateral action, but it wouldn’t waive the bond requirement. The appellate court can almost certainly waive the bond requirement, but this article suggests it has refused to do so.
As far as chapter 11, I don’t think that it would discharge fraud awards and civil penalties, but I am not a bankruptcy expert so someone more knowledgeable should set me straight if I am wrong on that.
I’m not a bankruptcy expert.. I agree it would not discharge the judgement, but I think there is an automatic stay that would slow things down and the trustee/receiver would have a fiduciary duty to other stakeholders to maximize value of the estate, preventing an extreme, rapid fire sale while the collateral case moves forward.
they are letting the rest of america know whats to become of pro americans should they show that side