News NY AG sues Trump and Trump Org for Financial Fraud (Update: Fraud verdict with $454M judgment)) (1 Viewer)

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    news.yahoo.com

    Trump loses bid to pause $454.2 million judgment in NY civil fraud case

    NEW YORK (Reuters) -Donald Trump on Wednesday lost a bid to pause a $454.2 million civil fraud judgment against him for overstating his net worth and real estate values to dupe lenders, meaning he must soon find the cash or post a bond to prevent New York authorities from seizing his property...
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    efil4 said:
    I wonder how many Bond companies have been approached and were like " Who is this? ohhhh- no speka englais".
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    They would certainly demand full collateral and fees up-front.

    But you're right, I don't know why the kind of surety company that would be capable of a bond that size would want to get involved with Trump Co. - you certainly can't take their word or even their attorneys' word on collateral. You'd have to do you own own due diligence on it and it's just not worth it.

    I expect they'd demand cash or cash equivalent only.
     
    superchuck500 said:
    They would certainly demand full collateral and fees up-front.

    But you're right, I don't know why the kind of surety company that would be capable of a bond that size would want to get involved with Trump Co. - you certainly can't take their word or even their attorneys' word on collateral. You'd have to do you own own due diligence on it and it's just not worth it.

    I expect they'd demand cash or cash equivalent only.
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    i think they may have made a handful of calls and all of them ended with "we simply cannot".

    If the insurance industry/market was flying high ( aka the recent cat claims have taken their toll ) then MAYBE some JR Underwriter somewhere in East Asia would have taken on the risk ( well taken it further than just a call ). But the current market atmosphere is highly protective right now.

    And i think its GREAT that someone(s) finally said " we aint bailing you out" - this one is on you.

    Time to pay up. Rich man.
     
    fooferdoggie said:
    it does not help that trump has crap for lawyers.
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    This is 100% true. I think he has better lawyers in the criminal cases because they’re being paid for by other sources and the issues are the kind that get you in the law books for generations - but his lawyers in these others cases are just awful. And it’s all his own doing.
     

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