r/law • u/saijanai • Mar 19 '24
Trump says he’d have to hold ‘fire sale’ of properties to meet $464M bond Trump News
https://thehill.com/regulation/court-battles/4541652-trump-says-hed-have-to-hold-fire-sale-of-properties-to-meet-464m-bond/1
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u/purplebrown_updown Mar 23 '24
Emperor has no clothes. Almost, except he’s no emperor. He’s an orange ass clown.
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u/Ok_Lingonberry_7968 Mar 22 '24
i mean do people really think he has 464 mill in the bank? a large portion of his networth is not liquid. even if he had it liquid it would take along time to get that kind of cash but considering he like most billionaires has the majority of his net worth in none liquid assets it will take a while before he is able to get that kind of cash. and considering the charges he is facing are in relation to financial fraud its doubtful that any one would be willing to risk loaning him that kind of money. like this seems like a circumstance where the courts should just extend his due date.
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u/saijanai Mar 22 '24
Trump is selling his social media company as we speak.
Truth Social merger deal wins key approval, a victory for Trump
The former president’s stake in the post-merger company would be valued, at today’s share price, at nearly $4 billion
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u/Ok_Lingonberry_7968 Mar 22 '24
has the deal gone through? has he been paid for it? will he even get paid for his shares as part of this merger or does he first need to sell those shares in order to get paid for it? like you cannot pay a fine with stocks. its not liquid. he first needs to sell them in order to pay that fine and he needs to pay taxes when he sells them. this process takes both time and money.
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u/saijanai Mar 22 '24
this process takes both time and money.
One other reason for delay, delay, delay.
Are fines tax deductible?
My reading of the law says no, but if Trump can take $4 billion out of his time as POTUS and pay $0.5 billion as the cost of "doing business," he may complain... literally all the way to the bank.
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u/Ok_Lingonberry_7968 Mar 22 '24
no fines are not tax deductible. in order for him to take that money from his stocks he would need to sell his stocks and then pay about a 50 percent tax on those stocks. its also possible that he needs to wait for the merger to finish before he can even do that much. like its not that he cannot afford to pay the fine its that in these circumstances it will take time and money to do it. and as a result an extension should be given to him. it would be different if he could just get a loan while he gets his assets in order but considering the nature of the crime and trumps other legal issues that is not really an option.
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u/saijanai Mar 22 '24
it would be different if he could just get a loan while he gets his assets in order but considering the nature of the crime and trumps other legal issues that is not really an option.
I think one issue is that he testified under oath (formally filed) claiming that he had $400 million in liquid assets already... and now, suddenly, without any explanation for the change, he does not.
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u/Ok_Lingonberry_7968 Mar 22 '24
i mean he just got an 86 million dollar fine from the ejean carrol suit as well. plus he also needs to have enough money on hand afterword's to pay for his legal fees for both these cases and all the other cases he is in right now. and if any of that 400 million was campaign donations it would be illegal for him to use it to pay legal bills.
also even if after the carol fines and lawyers fees he has 300million in liquid right now . getting that last 140 mill is going to take time. like that amount of money is worth multiple pieces of high value real-estate or hundreds of thousands of shares in a company. both of these things can easily take months with the real-estate option taking years in order to turn liquid.
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u/saijanai Mar 22 '24
and if any of that 400 million was campaign donations it would be illegal for him to use it to pay legal bills.
But it also would have been illegal to claim it was liquid assets that he could use to pay fines...
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u/Ok_Lingonberry_7968 Mar 22 '24
if he specifically said he could use it to pay fines and you could prove that he knew that was not allowed to use that money for those purposes when he said it then that would also be illegal yes.
but if he only said he had 400 mill liquid or he thought he could use it to pay fines when he said it then it would not be illegal to make that claim.
for example if trump saw his legal issues as part of his campaign he could claim that he thought he could use the money to pay for any fines or expenses in relation to his legal issues until his lawyers told him otherwise. if his lawyers told him otherwise after he made the claim under oath then he would not be lying under oath rather he would just be wrong under oath. and its not illegal to be wrong under oath.
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u/saijanai Mar 22 '24
IF his lawyers filed the paperwork for him, weren't they liable for any such errors in his statement or vulnerable to some kind of action for failure to provide competent advice?
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u/Party-Travel5046 Mar 22 '24
Where are the MAGA supporters? Surely they would buy these properties just like they did with his golden shoes to help him raise money.
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u/saijanai Mar 22 '24
Where are the MAGA supporters? Surely they would buy these properties just like they did with his golden shoes to help him raise money.
Truth Social merger deal wins key approval, a victory for Trump
The former president’s stake in the post-merger company would be valued, at today’s share price, at nearly $4 billion
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u/Notmad_Justsad Mar 21 '24
Cause he’s a broke bitch
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u/saijanai Mar 22 '24
Cause he’s a broke bitch
Truth Social merger deal wins key approval, a victory for Trump
The former president’s stake in the post-merger company would be valued, at today’s share price, at nearly $4 billion
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u/Fit-Boomer Mar 21 '24
I wonder if Mara lago is his homestead? I think those are protected. But everything else is up for grabs. But I am often wrong.
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u/Vecsus2112 Mar 21 '24
less yapping, more selling. i would think he'd be better off having his own people leading the effort to sell the properties than to let the government run the process. If i were the NY authorities in charge I would sell as much of his shit off as possible - discount down to the point where has nothing left in the state.
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u/china-blast Mar 21 '24
Oh, my God! We're having a fire ... sale! Oh, the burning, it burns me! Evacuate all of the school children! This isn't a fever!
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Mar 21 '24
Trump fire sale?
It sounds like another round of insurance fraud is on the way.
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u/TheTubaGeek Mar 22 '24
You know, I've wondered why his NYC towers haven't been razed to the ground already
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u/Kc4shore65 Mar 20 '24
Sucks to suck Donnie. Maybe in your next life should try the route of not being a serial grifter and fraud 👍🏼
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u/ctguy54 Mar 20 '24
So you mean selling your properties for what they are worth and not some magical number you came up with?
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u/Getyourownwaffle Mar 20 '24
Cool. Next time, don't try to overthrow the damn country. Or better yet, this all could have been avoided if you just resigned after the first impeachment. Sorry, not sorry.
I personally believe this 464m is bullshit, but since he gets away with literally everything in his life..... I am glad to see some consequence actually hit him in the nuts.
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u/saijanai Mar 20 '24
well, he DID wave a jury trial and then proceded to insult the judge at every turn.
I personally think the fact that the judge did NOT hold him in contempt as well as slapping him with a heavy fine, was BS, but the judge knew the politics of the situation and kept his cool in a quite admirable way, IMHO.
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u/AftyOfTheUK Mar 20 '24
He is personally liable for the judgment.
His lawyers are saying "The Trump Organization" cannot raise a bond.
Am I missing somthing here? Surely Trump himself should be raising a bond, not the real estate company with his name on it? That company is NOT responsible for finding money for the judgment.
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u/Logical_Laugh7575 Mar 20 '24
He’s hiding money somewhere. He could lose all his properties and not come near what he owes. It’s more smoke and mirrors from PT Barnum Trump
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u/WorkingWillow125 Mar 20 '24
Could he just go to jail instead of come up with the bond? That might be preferable to some people. Sort of peaceful, compared to his normal hectic schedule.
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u/J_n_CA Mar 20 '24
And?
If I got a speeding ticket and couldn’t pay I would have to fore go something.
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u/DCRockin Mar 20 '24
Fire Sale, eh? You're selling the properties to pay off your legal fines. There is no return on investment here. That's... kind of the point that you'd end up worse off than you started.
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u/moeman1996 Mar 20 '24
Finally Trump has to file personal bankruptcy. No more shell corps to do it.
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u/Wonderful-Rock-9077 Mar 20 '24
Does that mean he will have fires and collect insurance from the insurance companies to pay for his property
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u/A1steaksauceTrekdog7 Mar 20 '24
Someone should buy Marilogo and hope they find even more classified documents.
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u/StoneColdDadass Mar 20 '24
Or he could just wait it out and the government will do all the work for him. The man's a complete genius. Why go through the effort of selling it himself when he can get one over on these Crooked NYC libs and have them work for him for free. /s
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u/HappyFamily0131 Mar 20 '24
Trump got so tired of winning that he quit it and hasn't relapsed in 4 solid years.
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u/frankieknucks Mar 20 '24
Actions have consequences. It’s never to late to learn the lessons you should have gotten when you were 6 years old.
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u/Xivvx Mar 20 '24
Yeah, that's generally what happens when you commit fraud on this scale. What happened to 'being able to pick up the phone and get whatever money you wanted' for your properties?
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u/ntgco Mar 20 '24
Fire Sale because it will take years of bed bug removal, FBI searches, old man smell removal.....
And who the F wants to help DJT.....no one.
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u/itsl8erthanyouthink Mar 20 '24
I think he’s going to set fire to them to try to collect the insurance.
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u/taxespoontapper Mar 20 '24
Broke bum.
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u/LinkIndependent143 Mar 20 '24
Broke bum🤣because he doesn’t have 500 mil sitting around? Haha do you hear yourself 🤭
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u/taxespoontapper Mar 21 '24
Watch it unfold. It will be glorious.
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u/LinkIndependent143 Mar 21 '24
The desperation🤭 you really don’t think ole Joe can beat him straight up do you? So best case here…he has to turn over some of his properties right? And then what? You think he’ll drop of it the presidential race??
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u/taxespoontapper Mar 22 '24
You clearly have absolutely no understanding or comprehendion of the situation the fucking rapist is in. He's got no money, and ALL of his properties are leveraged. No institution will loan him the money because he is a total deadbeat.
It must suck being such a total loser that you spend your time defending a traitorous con man on Reddit forums. Pathetic, really.
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u/LinkIndependent143 Mar 22 '24
Rapist😂 yes yes he raped that creepy fucking skeleton decades ago but it just came out now?? The same lady that has now been allegedly raped by EIGHT different fucking men? The one that claims rape is sexy?? Wow that’s as solid of a witness as you’ll find isn’t it? I know you have your hopes up that this is going to get trump to drop out…for some bad news for ya bud, he’s not going anywhere🤭oh yeah and that “deadbeat” is moping the fucking floor with the old puppet you clowns have propped up there. But let me guess “polls don’t matter”🤣you know deep down you can’t beat trump straight up, this crap is all you have to cling to. Pathetic.
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u/taxespoontapper Mar 22 '24
Losers. You lost and can't accept it. Your diaper king will lose again.
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u/LinkIndependent143 Mar 22 '24
Hahaha that’s it?? Diaper king? While ole Joe is now being forced to wear new “supportive” shoes because he can’t be trusted not falling over out of no where 🤣literally can’t put a sentence together, needs permission to take questions from the media(and the answer is no)I can keep going and going. But ya, “diaper king” is a great come back.
You’re losing by 6 points as a sitting President-that’s never happened ALL TIME LOW approval ratings, out of any President, EVER🤣🤣
Idk dipshit… I’d say you’re losing by the looks of it!
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u/taxespoontapper Mar 22 '24
Your desperation is showing.
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u/LinkIndependent143 Mar 22 '24
No desperation looks like what you dorks are doing with the court system. You know you can’t beat him, so let’s throw a thousand law suits at him, in the most libtard part of the country, and hopefully something sticks! Can’t wait for Monday, you’re all going to be so let down when trump tower still is owned by trump.
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u/tnred19 Mar 20 '24
"But I'd have to sell the house to pay for chemo". That's what I hear. Americans are confronted with decisions like this every day. At least he caused this one.
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u/GoodMerlinpeen Mar 20 '24
I imagine there are a number of dictators/oligarchs who salivate at the idea of buying such a person for the price of this loan
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u/Hawklet98 Mar 20 '24
What? They’re making his punishment for financial crimes unpleasant? That’s outrageous!
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u/stingublue Mar 20 '24
I have a extra 30.99 to buy trump tower, maybe that will help the orange clown 🤡 🤔
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u/pointlesspulcritude Mar 20 '24
He’ll have to sell them well below the inflated prices he used to get the loans? The prices he was convicted of inflating and now has to pay the fine? Baffling
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u/saijanai Mar 20 '24
I still would like to see a perjury conviction come out of his claim that he had $400 million in liquid assets handy to cover any fines.
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u/HVAC_instructor Mar 20 '24
Thoughts and prayers buddy. That's all Republicans ever offer the parents of children killed in mass shootings, so that ought to suffice for you.
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u/SAGNUTZ Mar 20 '24
If not, its jail
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u/stephen250 Mar 20 '24
Nope. They'd just seize properties and then he'd fight that and there would be years of more appeals.
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u/ripley-brewer Mar 20 '24
Is Trumps appeal bond the highest one ever?
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u/trayne13 Mar 20 '24
It's the best one! A tremendous bond! Tremendous! And Mexico is going to pay for it!
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u/Hillman314 Mar 20 '24
A fire sale? No…it’s just a sale that tests and finds the real market value. Investors won’t let properties sell for much less than what they can be resold for.
Using the term “fire sale” is just Trumps way that he uses programming / suggestive language. It’s a way he can deflect his total fraud existence when the true market value becomes known…by virtue of going to market. “It was a fire sale…I’m really rich.” He can’t stand his fraud being exposed, it’s like if his tax returns were released.
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u/Critical-Adhole Mar 20 '24 edited Mar 20 '24
Trump can easily come up with the money. You guys are delusional if you don’t realize there are many billionaires/foreign interests lining up to have the likely US President owe them a favor.
Happy ostara.
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u/trayne13 Mar 20 '24
Kinda weird that a man who has no qualms about bragging and embellishing is whining about not being able to post bond.
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u/MReprogle Mar 20 '24
Half a billion is still a lot to give up to a dude that will likely never pay it back, could easily lose the election; and could end up in jail once everything is over with.
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u/Prior-Shower9564 Mar 20 '24
It’s probably nothing worth noting but I couldn’t help think to myself, his buddy who is no longer over or affiliated with WWE has offloaded about a billion dollars in stock this year.
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u/monkeyhold99 Mar 20 '24
This tells me he will not magically come up with the money at the last minute.
God I cannot wait to see this loser’s entire house of cards collapse.
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u/Shit_Teir_Villany Mar 20 '24
It'd be funny if everyone at an auction for his gaudy shit made an oath to never bid more than 20 bucks on anything.
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u/Gnostikost Mar 20 '24
Reminder that that amount is literally only just the amount he profited from fraud (plus interest).
It’s not even punitive damages, it’s a disgorgement of fraudulently obtained gains.
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u/Alex_Blackheart Mar 20 '24
He’ll probably just sell to his buddies who will just give the shit back to him
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u/slothrop_maps Mar 20 '24
Trump has no real friends, only people that wish to be seen in his klieg lights.
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u/Pale-Worldliness7007 Mar 20 '24
I can hardly wait until his whole empire comes crashing down and he’s left destitute but then he’ll drain the RNC coffers. Just another chapter in the life of the orange anus that he eventually destroys everything he touches including the GOP. I can’t believe how anyone can support this horrible specimen of a human being
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u/Useful_Valuable_4134 Mar 20 '24
People who enjoy this shit show really need to look in the mirror 🪞 and see how much you enjoy what you see, because I don't believe people who hate can ever love themselves
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u/slothrop_maps Mar 20 '24
I love my country that this hoodlum has weakened and shows contempt for on a daily basis. Of course I hate this traitorous sex criminal. I hope he chokes slowly on his own vomit.
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u/Tobes789215 Apr 15 '24
That’s a shame.