- cross-posted to:
- antitrumpalliance@lemmy.world
- cross-posted to:
- antitrumpalliance@lemmy.world
Less than a month after New York Attorney General Letitia James said she would be willing to seize former Republican President Donald Trump’s assets if he is unable to pay the $464 million required by last month’s judgment in his civil fraud case, Trump’s lawyers disclosed in court filings Monday that he had failed to secure a bond for the amount.
In the nearly 5,000-page filing, lawyers for Trump said it has proven a “practical impossibility” for Trump to secure a bond from any financial institutions in the state, as “about 30 surety companies” have refused to accept assets including real estate as collateral and have demanded cash and other liquid assets instead.
To get the institutions to agree to cover that $464 million judgment if Trump loses his appeal and fails to pay the state, he would have to pledge more than $550 million as collateral—“a sum he simply does not have,” reportedThe New York Times, despite his frequent boasting of his wealth and business prowess.
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A FORMER President, or what we also call a private citizen. If you’re thinking that you’re buying a President with a 500 mil bond, then you’re betting on him winning against the guy he lost against last time, which feels like as good a bet as taking Trump’s claims of what his properties are worth at face value.
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[Excellent]