553
submitted 9 months ago by Stopthatgirl7@lemmy.world to c/news@lemmy.world

Donald Trump was supposed to have to post a $464 million bond by Monday or else the state of New York could begin collecting on the massive civil fraud judgment leveled against him earlier this year. An appeals court bailed him out, blocking collection of the judgment and giving the former president 10 days to post a drastically reduced $175 million bond.

The order is a huge win for Trump, whose assets were going to be subject to seizure if he couldn’t post nearly half-a-billion dollars by Monday. His lawyers said last week he wasn’t going to be able to come up with the money after 30 underwriters rejected him. The New York Times has reported that Trump is expected to be able to scrounge the new, reduced $175 million bond

top 50 comments
sorted by: hot top controversial new old
[-] Neato@ttrpg.network 328 points 9 months ago* (last edited 9 months ago)

That's bullshit. Just more laws that don't apply to this traitor.

Trump undervalued his properties to the IRS and overvalued them to investors. And now the courts are allowing him to undervalue them so he doesn't have to face the consequences of his fraud.

[-] lurch@sh.itjust.works 57 points 9 months ago

I remember, many years ago before the first time he ran, I read he and his buddy lawyer giuliany were neck deep in shit and Stormy also had a solid case. I was like "that's it. now he goes to jail." but lo and behold, here we are and he's free and running again.

Maybe it's true what people say: Flying is like falling and missing the ground. (I think it's based on something Douglas Adams wrote.)

load more comments (1 replies)
[-] Maggoty@lemmy.world 18 points 9 months ago

We really need a law that says when you tell the IRS what your property is worth they are allowed to buy it at that price; if they later find out you represented it at a higher value to others.

load more comments (48 replies)
[-] Reverendender@sh.itjust.works 266 points 9 months ago

YOU HAVE GOT TO BE FUCKING KIDDING ME

[-] ConditionOverload@lemmy.world 190 points 9 months ago

The legal system is doing EVERYTHING it can to delay literally everything for this man, just so that election time will creep closer and closer and they can just say, "oh it's too close to election time and we can't just cancel a Presidential candidate in the midst of all this".

These exceptions will never be given to any normal citizen of the US, but when it's this rich orange idiot, every rule in existence will bend.

[-] Icalasari@fedia.io 78 points 9 months ago

May Trump and his VP pick both have fatal heart attacks late September/early October

[-] AbidanYre@lemmy.world 46 points 9 months ago

Tomorrow would also work. Or today.

load more comments (1 replies)
load more comments (1 replies)
[-] Cruxifux@lemmy.world 66 points 9 months ago

It’s pretty funny seeing his supporters and himself claim that the whole system is against him and that this is all some unfair witch hunt, and then turn around and see that he is constantly getting special treatment in the news.

load more comments (1 replies)
[-] TranscendentalEmpire@lemm.ee 20 points 9 months ago

Yep, trump is not the only person on trial here. You can't set a precedent that actually punishes financial fraud to the point where you can't actually profit from it when you're eventually caught.

Trump isn't the only real estate tycoon in NYC who has been fraudulently inflating the value of their assets. It would be uncomfortable for the judges to have to make a similar decision in the future to campaign donors.

load more comments (3 replies)
[-] elbarto777@lemmy.world 46 points 9 months ago

I actually thought something like this was going to happen, since it has happened before, per another comment I read earlier.

Some corporations were told to post billions in appeals bonds, and in the end they were reduced to a fraction of it.

So, while disappointing, I wasn't completely surprised of this event.

load more comments (1 replies)
[-] mynamesnotrick@lemmy.zip 25 points 9 months ago

FUCKING SHIT. I SWEAR TO FUCK. CANT HE BE HELD ACCOUNTABLE FUCKING EVER!?!? JUST THE CLASSIFIED FUCKING DOCUMENTS SITUATION SHOULD OF HAD HIS ASS IN JAIL LIKE DISCORD BRO. FUCK.

[-] Skullgrid@lemmy.world 18 points 9 months ago

You had to have seen it coming.

What was going to happen, he fails to post bond like any other schmuck and goes to jail?

load more comments (2 replies)
load more comments (4 replies)
[-] wjrii@lemmy.world 131 points 9 months ago

This sucks, but a few points are at least worth mentioning:

  1. Of the five judges listed on the order, annoyingly slim as it is, three are Democrats and two are "nonpartisan" but with resumes in the public sector and public interest law.

  2. Most states actually have a cap on appeal bonds, often around $50 million or less. NY doesn't have one, but all the same thinking, for good or for ill, that would lead to a statutory limit might influence the appeals court here. Among them is precluding additional litigation from forcing a fire sale.

  3. In an appeal like this, the court has to at least conceptually imagine that there's some possibility of success, and that with a defendant who is leveraged AF and not nearly as liquid as he boasts, there is only one bite at the apple when seizing and selling the assets to satisfy the judgment. If the court is convinced that this amount, well into nine figures, will occupy the vast majority of his liquid assets and insure some plausible compensation for the plaintiff, and the other assets aren't going anywhere, then it's not insane to demand a bond more in line with the available liquidity.

Trump is definitely getting the "rich business owner with lots of lawyers" treatment here, and that's certainly something you could criticize about the American legal system, but I don't think we're seeing some completely inexplicable abuse of existing civil procedure. The orange turd still gets the due process that a President Turd would deny to so many others.

TL;DR: it's possible the only thing the Appeals Court is saying is that ol' Donny really can't get the bigger bond and that Trump Tower will still be there to seize later.

[-] Maggoty@lemmy.world 48 points 9 months ago

I heartily disagree on these limits being to prevent a fire sale. They're to protect the wealthy from a fire sale. You or I would be forced into a fire sale in a heartbeat for a million dollar judgement. And then into debtor's prison when we turn out to be normal people who don't have a million dollars of assets lying around.

load more comments (3 replies)
[-] conditional_soup@lemm.ee 130 points 9 months ago

Oh, okay, cool, so the justice system cares if you say it's unfair and you can't afford the judgment now? Because I'm pretty sure that's news to most people.

load more comments (1 replies)
[-] xenoclast@lemmy.world 116 points 9 months ago

If they started auctioning off and selling his properties to make money, it would turn over a lot of really dark stones full of other people's criminal activities.

He's being protected by the club he's in, not because they like him but because they would be in trouble if they didn't.

[-] postmateDumbass@lemmy.world 51 points 9 months ago* (last edited 9 months ago)

That's the basis of the system, mutually assurred corruption.

[-] FenrirIII@lemmy.world 41 points 9 months ago

That's why Epstein Epsteined himself

load more comments (4 replies)
[-] Darkassassin07@lemmy.ca 106 points 9 months ago

And there goes every last shred of hope I had for America.

The country is fucking doomed, and it'll drag the rest of the world into chaos with it. We're all fucked.

load more comments (5 replies)
[-] lennybird@lemmy.world 91 points 9 months ago* (last edited 9 months ago)

Banks, mega corporations, (fake) rich people get bailed out — Republicans: Nothing.

Working-class doing public service get minor bailout with student loan forgiveness — Republicans: WHOA, NOW....

[-] CaptDust@sh.itjust.works 85 points 9 months ago

Do these judges have to explain their decision? Is there an opinion published somewhere? I'd love to understand what context brought them to this conclusion, I've never heard of someone gaining leniency because they couldn't afford the fine.

There's an old saying in Tennessee, I know it's in Texas, probably in Tennessee — that says, "don't do the crime if you can't do the time"...

[-] cogman@lemmy.world 58 points 9 months ago

The published order is just that. It doesn't explain the why or whatever just "We are reducing the bond amount and not removing the other limitations of the ruling"

[-] DogPeePoo@lemm.ee 19 points 9 months ago

“…because Project 2025”

load more comments (2 replies)
load more comments (15 replies)
[-] drphungky@lemmy.world 71 points 9 months ago

Sigh. Evergreen:

[-] NounsAndWords@lemmy.world 70 points 9 months ago

I have lost all faith in our justice system.

[-] thesohoriots@lemmy.world 28 points 9 months ago

“Justice system” is a misnomer. “Legal system” is more apt.

load more comments (3 replies)
[-] Machinist@lemmy.world 46 points 9 months ago* (last edited 9 months ago)

Damn. I was really hoping this would be a ray of light for the next year and a reduction in the level of election insanity we're going to see.

Instead, just more fuel for the flames.

load more comments (1 replies)
[-] Erasmus@lemmy.world 45 points 9 months ago

Rules for thee but not me me!!

[-] EchoCT@lemmy.ml 41 points 9 months ago

Violence would solve this problem.

[-] some_designer_dude@lemmy.world 17 points 9 months ago

It would, but it would also create lots of new problems. I would regain some hope for humanity, though, if the people finally woke up to the reality of their 350,000,000:1 ratio against their oppressors…

load more comments (1 replies)
load more comments (2 replies)
[-] someguy3@lemmy.ca 34 points 9 months ago* (last edited 9 months ago)

People say he's being treated different, and he is. Special treatment in his favour.

[-] VintageTech@sh.itjust.works 34 points 9 months ago

He should have been forced to sell all of his properties prior to his presidency.

[-] tygerprints@kbin.social 27 points 9 months ago* (last edited 9 months ago)

Shit. Shit. Shit shit shit. I knew some asshole stunt like this would happen. I said it at the very beginning - trump will never pay for any of the despicable things he's done, and he'll never ever set foot in prison.

I do not know what sort of strings he has attached to other people's spines, I do not know what sort of tremendous fear they have of him or what strange powers he must have - but I knew, I KNEW some horseshit like this would come along and fuck up the whole fucking process.

THe judicial system in the U.S. is an utter piece of total crap.

[-] glarf@lemmy.world 22 points 9 months ago

Un fucking believable.

[-] ChonkyOwlbear@lemmy.world 22 points 9 months ago

How funny would it be if he can't raise the $175 million either.

[-] Darkassassin07@lemmy.ca 30 points 9 months ago* (last edited 9 months ago)

He's already recently stated he has the full half billion in cash on hand, just refuses to pay in cash, and bonds companies won't touch him.

They didn't give him a break because he can't pay, they gave him a break because he refuses to.

[-] AbidanYre@lemmy.world 22 points 9 months ago

He's also a well known liar. There's no reason to believe he has the full amount in cash

load more comments (2 replies)
load more comments (3 replies)
[-] TheMusicalFruit@lemmy.world 21 points 9 months ago

Does anyone else have a feeling he won’t be able to come up with this amount either?

[-] dogslayeggs@lemmy.world 32 points 9 months ago

It's a lot easier to get a few $50M bonds than to get five $100M bonds (I read some post that said these big bond places have firm limits at $100M). It also gives him 10 more days to tout how he is about to make $3B on his Truth Social sale (to a shell company who overinflated the price) and will totally be good for the bond. I think he can do it just to avoid them digging into his finances.

It's complete bullshit. Normal people are not given this kind of leniency.

load more comments (6 replies)
[-] Snapz@lemmy.world 20 points 9 months ago

Dianne T. Renwick, Anil C. Singh, Lizbeth González, Bahaati E. Pitt-Burke, and Kelly O’Neill Levy

What was their actual individual motivation?

[-] m13@lemmy.world 19 points 9 months ago

So we can all just do whatever we want without consequences right? Or is it still just rich fascists the rules don’t apply to?

load more comments
view more: next ›
this post was submitted on 25 Mar 2024
553 points (98.1% liked)

News

23644 readers
3220 users here now

Welcome to the News community!

Rules:

1. Be civil


Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.


2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.


Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.


3. No bots, spam or self-promotion.


Only approved bots, which follow the guidelines for bots set by the instance, are allowed.


4. Post titles should be the same as the article used as source.


Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.


5. Only recent news is allowed.


Posts must be news from the most recent 30 days.


6. All posts must be news articles.


No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.


7. No duplicate posts.


If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.


8. Misinformation is prohibited.


Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.


9. No link shorteners.


The auto mod will contact you if a link shortener is detected, please delete your post if they are right.


10. Don't copy entire article in your post body


For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 2 years ago
MODERATORS