Trump fears he may have to “sell Great Assets, perhaps at Fire Sale prices”

Former President Donald Trump lashed out at the judge who imposed a $450+ million penalty in his New York fraud case after his lawyers admitted he was unable to secure a bond to appeal the case.

Trump’s lawyers on Monday asked a New York appeals court to stay the enforcement of the judgment in his fraud case, saying it has been impossible to secure a bond necessary to appeal the judgment after approaching 30 different underwriters.

The former president lashed out at the judge on Truth Social after the filing.

“Engoron wants me to put up the ridiculous fine (I DID NOTHING WRONG!) before I get a chance to Appeal his crazed ruling - A first!” Trump falsely wrote. New York law requires a defendant to put up the full judgment amount with interest in order to appeal a civil judgment.

  • Nougat@fedia.io
    40·
    8 months ago

    He’s already got loans out on all the properties. There isn’t any equity left to mortgage against.

    • Dkarma@lemmy.world
      13·
      8 months ago

      This is it exactly. Idk what he’s even removed about. He has the rnc to pay now didn’t he?

      Trump nft anyone?

      • orclev@lemmy.world
        36·
        8 months ago

        I saw a comment somewhere that claimed the RNC only has like $10 million in funds, wouldn’t even put a dent in what he owes.

        It’s funny how badly he has screwed himself. He’s spent decades overinflating the value of his properties and then taking loans and mortgages out on them and using that to claim he’s a billionaire. Now the courts used his own claims of how rich he is to issue a fine and he’s struggling to pay it because his actual net worth is a tiny fraction of what he has claimed it is. He’s basically created his own personal sub-prime mortgage bubble and it’s teetering on the edge of collapse now.

        • Socsa@sh.itjust.works
          18·
          8 months ago

          The funny part is that he could have just kept getting away with it until his brain finally strokes out, but instead he decided that he would rather destroy US democracy instead of just living out his life as a rich old man.

    • xantoxis@lemmy.world
      10·
      8 months ago

      I almost feel bad for the banks about to record a default on all his properties, since the courts get first dibs on them.

      I don’t, though.