Posted on 02/21/2024 7:50:49 AM PST by SeekAndFind
The following has nothing to do with whether I support or oppose Donald Trump. It is simply one approach to problem-solving.
In a recent civil fraud case in New York, Trump was found liable for deceiving banks about his net worth. Justice Arthur F. Engoron’s ruling imposes a penalty of nearly $355 million plus interest, potentially depleting Trump’s available cash. The judge’s decision also bars Trump from serving in top roles at any New York company for three years, including portions of his own Trump Organization.
The judgment also imposed a two-year ban on the former president’s adult sons, along with more than $4 million each in damages. The lawsuit, brought by New York Attorney General Letitia James, accused Trump and his family businesses of overstating his net worth.
Trump has vowed to appeal the decision. He and his co-defendants will likely need to come up with the full judgment amount of $355 million, with potentially more in interest, to move forward with an appeal. As he cannot apply for loans from any financial institution registered in the state for three years, Trump must come up with the scratch.
On top of Engoron’s verdict, he is currently on the line for some $90 million to E. Jean Carroll, well, because.
Image: A Donald Trump coin by AI.
We are at $440 million, not including interest on the NYC fraud case. That can increase the total by another $100 million. So let’s add pocket change and put the number at $550,000,000.
Can he afford it? Politico thinks asset liquidation is the only answer:
Trump’s company isn’t public, and he has famously refused to disclose his tax returns, so his cash flow situation is shrouded in mystery.
(Excerpt) Read more at americanthinker.com ...
I hope Musk will give him a call. That would really p*** every off.
Very interesting idea. I would consider buying into it.
Raising capital is as old as homo sapiens.
There are an endless number of ways to do it—as long as folks believe that at some point you will be able to pay back the principal and some additional return reflecting the risk of either the debt or equity.
Yes, very interesting. 5 million people buying $100 worth would get him his 1/2 billion to continue his appeals.
Which is why AG Letitia James is so eager to seize Trump's NY property to cover the fines.
If Trump is barred from doing any business in New York, since it includes forbidding him from making any bank loans, does that also mean he cannot rent hanger space in NY for his airplane, buy fuel at LaGuardia for his airplane, or even hail a cab in NY?
You mean he can’t sell gold tennis shoes??????
If there was a trust worthy defense fund, I’d send Trump $100 bucks. All he has to do is ask.
Just apply for a surety bond.
Trumps fatal flaw is that he’s a New Yorker.
Not from New York, he can't.
I’m not a lawyer, but something sounds fishy about this.
It doesn’t make sense that he has to put up this money in order to appeal.
Someone who knows the law is welcome to prove me wrong.
What is written on the coin? It looks like nonsense.
Guess again. His first batch of $399 sneakers sold out in.4 hours.
Are we trying to play 'gotcha?'
Is he selling his shoes from a New York store, or from a fulfillment center outside the state of New York?
A bond is a bond which is just a piece of paper backed by a hard asset.
If, for example, Mara Lago is debt free, he could get a bond from many different sources in the world in return for a lien on Mara Lago.
This is a non story. Trump has had months to work on all this (he was bound to have seen this situation coming). I’m sure it’s already a done deal.
If he has debt on Mara Lago he can move it in order give his bond issuer a first lien.
There are private citizens out there raising hundreds of thousands of dollars in support of Trump on GoFundMe. Are these legit or grifters?
There’s absolutely no way to know until Trump himself says something. Has he commented on these crowdsourcing sites?
-PJ
The shoes stink but I like that coin. Its design must have been done by the article’s author (or commissioned by him).
I don’t understand the writing on it either.
on another FR thread is says gofundme shut down the Trump fund because it was a “solicitation”
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