this post was submitted on 14 Mar 2024
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367
It Seems Trump Still Has No Idea How to Post That Massive Fraud Bond (newrepublic.com)
submitted 8 months ago by MicroWave to c/politics
67 comments fedilink hide all child comments
 

Donald Trump still hasn’t posted bond in his New York civil fraud trial, but his lawyer Alina Habba wants you to know that it’s definitely not because they’re having trouble getting the massive amount together.

The former president was fined $354 million for committing real estate–related fraud in New York. In order to appeal the decision, Trump must post a bond of the full amount plus interest—which has already reached nearly $467 million, with interest adding $112,000 per day.

When asked Wednesday if Trump was any closer to posting bond, Habba had a very clear answer that raised no red flags.

“Yeah, no, unfortunately I can’t speak to that. That’s privileged, and I am the attorney, one of the attorneys on that case,” Habba told Fox News, stating the obvious.

She quickly pivoted to attacking the case altogether, calling the judgment “absurd” and expressing hope that an appeals court would overturn it.

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[–] billiam0202 32 points 8 months ago* (last edited 8 months ago) (3 children)

Chubb put up the appeals bond for his defamation trial.

This is talking about the appeals bond for his fraud trial. Chubb (currently) has no stake in that one and Trump (currently) hasn't posted a bond for that. He has until March 25th to do so or else the state of New York is gonna be getting $400 million of new real estate.

And they won't use Trump's fraudulent valuations, either.

[–] FuglyDuck 15 points 8 months ago

Ah. Even simpler then. When it expires it goes to collections and the state starts seizing assets. Either way… that’s unlikely to not be resolved before he’s the president.

[–] [email protected] 13 points 8 months ago (1 children)

My money is on this stalling being so the Truth Social merger goes through and he can loan against his stake there, that or sell shares. The preliminary valuation puts Trumps part of the post-merger company at up to $4 billion, which is absurd but also he does have an extremely specific demographic completely captured over there. It's marketing gold for unscrupulous companies and niche stuff that won't ever sell to city Dems, like truck nuts and tacticool gear.

[–] DougHolland 4 points 8 months ago

Six points for 'tacticool'. :)

[–] baru 6 points 8 months ago (1 children)

Chubb put up the appeals bond for his defamation trial.

There's an article which explains that the financial document says it'll take months for that bond to be valid and it has various ways to get out of the "bond". Meaning, they were trying to get the judge to sign off on a bond which wasn't a bond.