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.

  • AdamEatsAss@lemmy.world
    141·
    9 months ago

    I don’t think lawyers/Judges/procesecutors in a high profile multimillion dollar fraud case are using AI. This would be something they are used to and know how to deal with. And I don’t think this size of report would be out of the ordinary for a case like this. A lot of it probably doesn’t need to be read but is included for completeness. For example, only a few transactions over the course of a few years may be needed to prove fraud. But the entire transaction list from that time would be included as an appendix for reference.

    • TehWorld@lemmy.world
      55·
      9 months ago

      The smart ones absolutely are using AI. The Judges might not, but the lawyers and prosecution certainly are. They don’t have to directly cite AI, but can simply use it to point out the salient bits and save themselves a LOT of time digging for info that they want.