Trump can’t pay

[Anonymous]

Anonymous wrote:Looks like ABC is going to end up paying it

What?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Do the lawyers have to prove he can’t pay?

For what reason. If he cant put up the bond to appeal doesn't he have to pay the judgement. How long does he have to pay it before collection proceedings can begin?

Seems like seizing his assets would be a great way to get his followers to send money and maybe get violent.

He did the fraud, he needs to pay the consequences. Nothing to get violent about at all. His followers can find something better to do.

His followers will find out that he's been lying to them all along about what a successful business man he is. A multi-billionaire who can't afford half a billion fine.

Except that they will just not believe the truth. You can show it to them again and again and they just accept the lies.

I really don't understand the hold he has. I don't see the charisma. I've always seen him as that horrible, swindling real-estate guy.

I don't understand it either. Maybe it's just people who like to watch the train wreck.

[Anonymous]

Will the Saudis front him the money?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Help me out, I saw in a BBC article that Trump could escape the debt by filling for bankruptcy
I thought
1.you couldn't get rid of this type of debt that way
2. If you file bankruptcy in these circumstances the court can sell all your assets to cover your debt
???

Bankruptcy would be another delay which always helps. Trump is hoping to cash in when the Truth Social merger is finally allowed to happen, although that has been delayed since he’s trying to scam the founders out of their cut.

But no, it’s correct that intentional torts like defamation and fraud are not dischargeable in bankruptcy.

The Trump organization owes the money, not trump himself. Personal bankruptcy will not effect the process at all

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Help me out, I saw in a BBC article that Trump could escape the debt by filling for bankruptcy
I thought
1.you couldn't get rid of this type of debt that way
2. If you file bankruptcy in these circumstances the court can sell all your assets to cover your debt
???

He hasn't filed for bankruptcy so not sure how this is relevant.

Trump has filed for bankruptcy at least 5 times already, I am wondering if he can successfully pull that card again

How does filing for bankruptcy help him? The Trump Organization owes the money, not Trump himself. He can't force the organization to file for bankruptcy without the court appointed monitor's approval.

No, Trump owes it personally.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Help me out, I saw in a BBC article that Trump could escape the debt by filling for bankruptcy
I thought
1.you couldn't get rid of this type of debt that way
2. If you file bankruptcy in these circumstances the court can sell all your assets to cover your debt
???

Bankruptcy would be another delay which always helps. Trump is hoping to cash in when the Truth Social merger is finally allowed to happen, although that has been delayed since he’s trying to scam the founders out of their cut.

But no, it’s correct that intentional torts like defamation and fraud are not dischargeable in bankruptcy.

The Trump organization owes the money, not trump himself. Personal bankruptcy will not effect the process at all

Here’s the judgment. He owes it personally joint and severally with the Trump Org and some other entities.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=nXeA3RG/pYddgehBHovUPw==&system=prod

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:8th Amendment violation on its face. $454 million in assessed damages for no damages incurred or claimed.

Just like Trump continuing to push his unfounded and false stolen election claims, you keep pushing this stupid "no damaged" claim.

Yes, the banks were not damaged. They used the estimates provided by the Trump organization to give him favorable loans. The crime was that he then use a different set of assessments for tax purposes. And using two sets of different assessments constitutes tax fraud. The damages were that he fraudulently claimed his properties were worth less than their assessed value, he provided falsified documents for tax purposes, he defrauded the government and the tax payers of NYS by paying less than the appropriate taxes than he owed. So there were definitely damages and he was assessed a civil penalty for the tax fraud and failing to pay the appropriate amount of taxes.

Any bank that uses a borrower's valuation of property is engaging in an unsafe and unsound practice and should be sanctioned. They always use their own or third party appraisals. Do you think a bank will give you a mortgage based on your estimate of what it is worth?

Likewise, tax authorities make their own property assessments for determining property taxes due. So I have never understood the argument that tax fraud was committed. Perhaps someone who is arguing this can explain it?

This is incorrect.

Trump violated a NYS statute: executive law 63(12). It’s been on the books since 1956. It may be used against persons who engage repeatedly in fraudulent or illegal business activities in the state of New York. That’s it. Nothing about tax fraud.

Shkreli is one of the other high profile persons found liable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:8th Amendment violation on its face. $454 million in assessed damages for no damages incurred or claimed.

Just like Trump continuing to push his unfounded and false stolen election claims, you keep pushing this stupid "no damaged" claim.

Yes, the banks were not damaged. They used the estimates provided by the Trump organization to give him favorable loans. The crime was that he then use a different set of assessments for tax purposes. And using two sets of different assessments constitutes tax fraud. The damages were that he fraudulently claimed his properties were worth less than their assessed value, he provided falsified documents for tax purposes, he defrauded the government and the tax payers of NYS by paying less than the appropriate taxes than he owed. So there were definitely damages and he was assessed a civil penalty for the tax fraud and failing to pay the appropriate amount of taxes.

Any bank that uses a borrower's valuation of property is engaging in an unsafe and unsound practice and should be sanctioned. They always use their own or third party appraisals. Do you think a bank will give you a mortgage based on your estimate of what it is worth?

Likewise, tax authorities make their own property assessments for determining property taxes due. So I have never understood the argument that tax fraud was committed. Perhaps someone who is arguing this can explain it?

This is incorrect.

Trump violated a NYS statute: executive law 63(12). It’s been on the books since 1956. It may be used against persons who engage repeatedly in fraudulent or illegal business activities in the state of New York. That’s it. Nothing about tax fraud.

Shkreli is one of the other high profile persons found liable.

Thanks for clarifying. There have been a number of posts saying he committed tax fraud in using his real estate valuations for purposes of paying property tax. That made no sense to me.

[Anonymous]

Banks in this country stopped loaning to Trump years ago, didn't they?

Why was that?

[Anonymous]

Anonymous wrote:Looks like ABC is going to end up paying it

If anything, he'll have to pay ABC's legal fees when he loses bigly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump’s biggest fear is being shown he’s poor.

That must be why he committed perjury by telling the court a few months ago how he had hundreds of millions of liquid dollars.

His net worth is probably in the low 7 figures. He owns a bunch of properties that are valuable, but no one really knows how much debt he has on them, how much is actually just partial ownerships because of LLCs and side deals, etc. If he actually had substantial equity in these properties, it should be no problem for him to go to a bank and borrow this money. The fact that he can't is very telling.

So you're saying he's worth under 5 million?

Actually experts have evaluated his total worth at about 3B, but most of it is tied up in real estate, which is not liquid. There is at most $400M in cash or stocks, and he needs to keep a lot of it to pay bills. So his options are:

1. Borrow from friends, and it's unlikely someone will front him the money, unless they have ulterior motives that may be deleterious to the USA, because everyone knows he won't pay it back.

2. Get loans with real estate collateral, which has until now proven impossible. No one likes real estate as collateral, because it's hard to get rid of quickly, especially if the properties are not on US soils (a lot of them aren't).

3. Fire sale of real estate, in which buyers will be able to negotiate rock-bottom prices. In the timeframe, very difficult to do.

Otherwise James can seize his assets on Monday.

[Anonymous]

Anonymous wrote:Looks like ABC is going to end up paying it

Trump is an idiot who is now suing George Stephanopoulos. Why would ABC pay for Trump?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Looks like ABC is going to end up paying it

Trump is an idiot who is now suing George Stephanopoulos. Why would ABC pay for Trump?

He’s already 0-4 in lawsuits on the same issue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump’s biggest fear is being shown he’s poor.

That must be why he committed perjury by telling the court a few months ago how he had hundreds of millions of liquid dollars.

His net worth is probably in the low 7 figures. He owns a bunch of properties that are valuable, but no one really knows how much debt he has on them, how much is actually just partial ownerships because of LLCs and side deals, etc. If he actually had substantial equity in these properties, it should be no problem for him to go to a bank and borrow this money. The fact that he can't is very telling.

So you're saying he's worth under 5 million?

Actually experts have evaluated his total worth at about 3B, but most of it is tied up in real estate, which is not liquid. There is at most $400M in cash or stocks, and he needs to keep a lot of it to pay bills. So his options are:

1. Borrow from friends, and it's unlikely someone will front him the money, unless they have ulterior motives that may be deleterious to the USA, because everyone knows he won't pay it back.

2. Get loans with real estate collateral, which has until now proven impossible. No one likes real estate as collateral, because it's hard to get rid of quickly, especially if the properties are not on US soils (a lot of them aren't).

3. Fire sale of real estate, in which buyers will be able to negotiate rock-bottom prices. In the timeframe, very difficult to do.

Otherwise James can seize his assets on Monday.

How could any expert evaluate his net worth? They don’t have access to his books and they don’t know what debt he has. Any numbers you see out there are WAGs.

[Anonymous]

Anonymous wrote:Looks like ABC is going to end up paying it

Looks like Trump is going to pay ABC's legal bills for his frivolous lawsuit. Trump was adjudicated as a rapist by a judge. The jury forms you people love to post do not matter. You will see soon enough.