politics @lemmy.world Rapidcreek @lemmy.world 8 mo. ago

Trump must come up with the full bond amount to cover the $454 million civil fraud trial judgment, appeals court judge rules | CNN Politics

www.cnn.com Trump must come up with the full bond amount to cover the $454 million civil fraud trial judgment, appeals court judge rules | CNN Politics

Former President Donald Trump must come up with the full bond amount to cover the $454 million verdict in the civil fraud trial, an appeals court judge ruled Wednesday.

Trump must come up with the full bond amount to cover the $454 million civil fraud trial judgment, appeals court judge rules | CNN Politics

The judge, however, lifted a ban on Trump’s ability to obtain loans from a New York bank, which could allow him to obtain the necessary funds

42 comments

I don't understand why he would be allowed to borrow money for this purpose. Seems to me that would be an opportunity to commit more fraud by using properties at inflated values as collateral.
- I am sure there's a Russian bank out there that will give him amazing terms on a "loan".
  
  Would love for that to happen, then US seizes the Russian funds. Would be hilarious.
- Realistically, selling something like Trump Tower isn't the same as getting cash for a car.
  
  You mean he doesn't have the cash on hand.
  
  Realistically, if you need to sell your car, your .ode of transport to mount your appeal, it should be no easier for someone with investments that won't impact their life, only their income.
- Hopefully, every bank is on to his scams at this point and would require 3rd party appraisals.
  
  I would be more concerned that he would use it to launder money. For example, he can't use campaign money to pay his civil judgment, but his campaign could "rent" some space and other services from Trump corp for exorbitant amounts to raise the funds to pay the loan. He has been using the scam to launder Russia mob money since the 80s.
  
  Got to be honest, I don't think it was an issue of banks not knowing about the scam.
  
  I wouldn't be surprised if some of these "loans" weren't partially secured with foreign checkbooks.
- I bet it's more of a non-issue in that no bank is going to lend anymore.
  
  I can see why no bank would lend him money, especially with the risk of his properties being seized. But this guy keeps getting away with it. I won't believe it until I see it.
  
  Might be a bank in Russia....
- Any bank lending to Trump is at high risk of losing money. He could've gotten a loan from any bank in any other state, right? How is having access to a bank in NY going to change anything?
  
  Probably because they would accept Trump Tower and other NY assets as collateral. But any bank that actually did and tried to sieze them after he defaults would likely face years of lawsuits. Caveat emptor and all that.
- Well, the feds fucking love letting someone commit additional crimes while they watch
- Isn't there a special master monitoring his finances? If so, I'm fine with giving him more rope
  
  I think so. I'm not sure what the special master does.
I wonder if any banks are braindead enough to loan him the cash.
- It would be a good deal. They might demand twice the value in collateral.
- Seems like only one bank is braindead enough and it's NY-based. Hint: Deutsche Bank's US operations are NY-based.
- Russian banks might.
- I'd actually be more surprised if banks didn't lend him money.
  
  Why? He'll stall and they'll end up with nothing when he dies
His Russian oligarch buddies at Deutsche (Douche) Bank are all fund frozen

Time to hit up the Saudi’s

Maybe Credit Suisse (Sus) will help out— they are plenty dirty.
- Well look at that so happens someone in the Trump org got a big ol Saudi pay check just after he left office if memory serves. Maybe they could help out!
- More specifically Deutsche Bank is NY-based and thus covered by the ban from borrowing for 3 years. Which he had to get removed because no other bank will lend to him.
So he borrows the money, posts the bond, loses, and either simply doesn't repay the loan or his benefactors forget there ever was a loan.

For the love of humanity, can we please get some actual consequences to actually stick?
- They will forgive all his debt for a few strategic political favors when they insert him as president.
Wonder who will come up with the money first - Saudis or Russians
- The Russians are having some troubles these days, war + sanctions will do that to you.
His trust fund allowance and his daily grifts of MAGA won't save him.
- He only needs to sell 1,135,000 pairs of sneakers.
  
  Weird, someone in Russia and also NK just bought half a million pairs. And some MAGA NFTs. (They don't require any delivery. But they have a few requests...)
He must still have some more government secrets to sell
Very nice! Looks like there is still some judgement left in the system.

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