NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023, #2

[tlcya]

Former President Donald Trump could become more than $3 billion richer after shareholders of Digital World Acquisition on Friday approved a merger with his Truth Social media site.

And he could use the money.
[snip]
But the ins and outs of the deal, based on share prices and a faddish 'special acquisition purpose acquisition,' mean he may not be able to lay his hands on as much as $3.5 billion for six months.
[snip]
In the case of Digital World Acquisition and Trump Media and Technology Group, Trump must hold the share for six months.

That is a problem for Trump, who faces a Monday deadline to find a bond that would guarantee payment of a $454 million civil-fraud judgment against him. So far he has been unable to find a company that will back him, and risks having property or companies seized.
Could Trump's $3.5 BILLION windfall from Truth Social come too late?

 

[Niner]

Just an FYI from my notes per my calculations....

3/21/24 Update: The amount Trump owes is increasing by nearly $112,000 each day due to interest. As of Tuesday, 3/19/24, he owed the state nearly $456,800,000. On 3/20/24: $456.912,000. 3/21/24: $458,924,000. 3/22/24: $459,036,000. 3/23/24: $459,148,000

 

[crussell821]

Just an FYI from my notes per my calculations....

3/21/24 Update: The amount Trump owes is increasing by nearly $112,000 each day due to interest. As of Tuesday, 3/19/24, he owed the state nearly $456,800,000. On 3/20/24: $456.912,000. 3/21/24: $458,924,000. 3/22/24: $459,036,000. 3/23/24: $459,148,000

I love this for him.

 

[Niner]

Just an FYI!

Updated 3/23/24

NY - $250m lawsuit New York vs. Donald J. Trump, Ivanka Trump, Donald Trump, Jr. & Eric Trump & the Trump Organization, Inc. (Allen Weisselberg & Jeffrey McConney) that was allegedly obtained through fraudulent means. – AG Letitia James. Judge Arthur F. Engoron. New York Supreme Court (Manhattan) #452564-2022
Monday, 3/18/24 - @ 10am - Oral argument on defendants application to stay Justice Engoron judgment pending appeal before the NY Appellate Division, First Department; defendants replies in support also due by 10am.
Monday, 3/25/24 - Status/Motions hearing @ 10am & last day for Trump to post a bond of approximately 120% of Justice Engoron’s final monetary judgment, to stay that judgment pending appeal.

 

[Leilei]

Interesting article about his real estate holdings in NYC.

What Real Estate Does Trump Own in NYC Anyway?

Letitia James says she will seize Trump’s properties if he doesn’t pay his civil fraud penalty. The problem is, he doesn’t own that many.

www.curbed.com

 

[Niner]

As of 3/24/24 @ 1pm ET - Trump owes $459,260,000 - I believe my calculations are correct...

 

[abyquinn]

As of 3/24/24 @ 1pm ET - Trump owes $459,260,000 - I believe my calculations are correct...

It’s ok, he can handle it. He’s rich!

 

[Cool Cats]

It’s ok, he can handle it. He’s rich!

Not anymore

 

[HmmMysterious]

Tomorrow can't come soon enough

 

[Herat]

Isn's someone going to investigate the ownership of the company that is going to just drop $3.5 million in his lap and get him out of this substantial financial pickle he's got himself into?

I really don't think his TS site has anywhere near the revenue that warrants such an astronomical price.

Hugely overpaying would be a kind of fraud, wouldn't it?

 

[Stunned]

It’s ok, he can handle it. He’s rich!

He'll just write a check! Does his name have to be on it? Asking for a Middle Eastern investor. IMO

 

[Herat]

Does the State of New York take third-party checks?

Is there enough room to write that total amount on one check? I have trouble getting my tax payment written out on one line.

 

[Cool Cats]

Does the State of New York take third-party checks?

Is there enough room to write that total amount on one check? I have trouble getting my tax payment written out on one line.

escrow account​

 

[Smelly Squirrel]

The appellate court could also bail him out to stay enforcement or lower the amount of the bond.

 

[acutename]

Interesting article about his real estate holdings in NYC.

What Real Estate Does Trump Own in NYC Anyway?

Letitia James says she will seize Trump’s properties if he doesn’t pay his civil fraud penalty. The problem is, he doesn’t own that many.

www.curbed.com

Is she restricted to only putting liens on his NY properties? I realize those might be "easiest" legally, but NY can lay claim to all the properties, can't it?

 

[Leilei]

Is she restricted to only putting liens on his NY properties? I realize those might be "easiest" legally, but NY can lay claim to all the properties, can't it?

Apparently, there are no restrictions:
Pollock also noted that the AG is not limited to New York, thanks to the Uniform Enforcement of Foreign Judgments Act, which requires states to give “full faith and credit” to official acts and judgments from other states. Almost the entire country abides by this, so James could technically go after Mar-a-Lago, Trump’s prized social club.

Trump Needs to Come Up With $500 Million by Monday, or He Could Lose His Assets. There Are a Few Ways He Could Do It.

Letitia James is eyeing Trump's properties. He has until Monday to come up with the money to keep them.

slate.com

 

[Herat]

Is she restricted to only putting liens on his NY properties? I realize those might be "easiest" legally, but NY can lay claim to all the properties, can't it?

This article is very good.

Typically, Trump never actually owns any building, but licenses his name and image on it for marketing purposes.

I remember this vividly from the lawsuits about the Rosarita Beach , Ensenada Mexico Trump-named condo complex that he and Ivanka went to lengths to market. The project failed spectacularly, with numerous people losing their entire investment in what they thought was their retirement property and tried to sue Trump. Turns out it's not illegal to market a condo complex that has your name but you don't own and you can skip out when the project fails to be built.

 

[Cool Cats]

This article is very good.

Typically, Trump never actually owns any building, but licenses his name and image on it for marketing purposes.

I remember this vividly from the lawsuits about the Rosarita Beach , Ensenada Mexico Trump-named condo complex that he and Ivanka went to lengths to market. The project failed spectacularly, with numerous people losing their entire investment in what they thought was their retirement property and tried to sue Trump. Turns out it's not illegal to market a condo complex that has your name but you don't own and you can skip out when the project fails to be built.

This must be why "they" say he doesn't own Trump Tower, he only owns the lease and the penthouse.

 

[Cool Cats]

Is she restricted to only putting liens on his NY properties? I realize those might be "easiest" legally, but NY can lay claim to all the properties, can't it?

All his "stuff" including cars and his plane. Not limited to NY property. His NY property might cover it all, what he owes.

AG James files judgment in Westchester, placing liens on Trump properties in fraud action​

MSN

2 Cents

 

[I am not Sherlock H.]

Donald Trump says he can’t obtain a bond for the full amount of the judgment (~$450M, including interest) in the civil fraud case.
30 underwriters declined.

“The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote.

https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=LkIQgg7Dg2GXrJ4iSoe3tA==

Interesting, and it must depend on how one ‘counts’ the money, etc?

This article from Open Secrets is also interesting, since if I understand some of this apparently the campaign / funds to pay legal fees was replete with money at one point? Sure hope proper authorities can get to the root of this and soon MOO:

https://www.opensecrets.org/2020-presidential-race/donald-trump/candidate?id=N00023864