The Tiny Scandals and Trials

News and commentary on trials, the law, and expert opinions about legal systems
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ti-amie United States of America
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Re: The Tiny Scandals and Trials

#1111

Post by ti-amie »

Lisa Rubin
@lawofruby
·
10m
NEW from me and
@GaryGrumbach
: FL public records confirm that Trump used a Schwab brokerage account as collateral to obtain his $91.63 million bond through Chubb’s Federal Insurance Co. in the E. Jean Carroll case. 1/

The record — a Uniform Commercial Code filing dated March 7, 2024 — was filed by Chubb’s outside counsel, Akerman LLP, and lists two debtors: the Donald J. Trump Revocable Trust (into which Trump’s assets roll up) and Donald J. Trump, Jr., one of the trustees. 2/
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Re: The Tiny Scandals and Trials

#1112

Post by ti-amie »

Jose Pagliery@Jose_Pagliery

Two court clerks tell me that the New York AG has effectively placed liens on everything Donald Trump owns in Westchester County.

Her target? Seven Springs, his 212-acre forested family estate.

Story
@thedailybeast
Marie Brennan 🐾
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Don't forget about his trump National Golf Club in Briarcliff Manor. That would also require a Westchester County filing and while only 140 acres, it has a much higher property value than Seven Springs in terms of subdivision & new construction possibilities.
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ti-amie United States of America
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Re: The Tiny Scandals and Trials

#1113

Post by ti-amie »

It's way too soon to start celebrating but I think this is the post of the day on the topic of what AG James is up to.



I mean Bone Saw or Vlad could still send him some money via Manafort or someone else but still
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Re: The Tiny Scandals and Trials

#1114

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Lisa Rubin
@lawofruby
As
@KatiePhang noted yesterday, prior mortgages on Trump properties won’t prevent Tish James from trying to collect on them. But some of those loans are bigger than appreciated. Take Axos Bank’s loans to Trump for Trump Tower’s commercial portion and the Doral course. 1/

Both loans are listed as “over $50 million” on Trump’s August 2023 Office of Government Ethics disclosure. But, according to @washingtonpost, those loans are for $100 million and $125 million respectively. 2/
https://www.washingtonpost.com/politics ... rrabrants/

And meanwhile, as one would expect, Axos left no stone unturned in terms of what collateral Trump pledged. How do I know? Because it filed its financing statement describing not only its interest in Trump Tower’s commercial unit, but also all leases associated with it. 3/

And here it is:
https://appext20.dos.ny.gov/ASPIMGVIEWP ... T&pApp=UCC

I tell you this because while Trump complains that the New York Attorney General is desperate to sell off his empire, Tish James has no interest in assuming “the risk of executing on Defendants’ illiquid assets.” Her office said as much in its reply brief yesterday.

In fact, their position is that if Trump and his businesses truly cannot obtain or provide an undertaking, they should consent to have their real-estate assets “held by [the New York] Supreme Court to satisfy the judgment.”

Image

In other words, the AG’s office is saying it does not want a mess of a fire sale any more than Trump does; in lieu of an adequate bond or cash, they would much rather Trump just let the court hold the assets in a kind of escrow.

That doesn’t mean Tish James can’t or won’t force a sale of assets like Trump Tower. But as satisfying as some of her constituents might find it, it’s by no means her first or even second preference. Remember that if and when she is put in a position to enforce her judgment. FIN.
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Re: The Tiny Scandals and Trials

#1115

Post by patrick »

At the end of the situation, Trump will never pay a dime. If the voters do their civil and democratic duty, bankruptcy will be filed.
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Re: The Tiny Scandals and Trials

#1116

Post by ponchi101 »

I can so well see 7 million democrats not showing up to vote for Biden just because "he is too old" (o some other whine) and handing Trump the chance to name some devout AG and have all these swept away.
Ego figere omnia et scio supellectilem
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Re: The Tiny Scandals and Trials

#1117

Post by ti-amie »

Shannon Skinner (she/her)
@shansterable@c.im
Please ignore the man behind the curtain claiming "Trump is about to get $3 billion richer after deal is approved to take his company public."

"SEC filings indicate Trump Media’s revenue amounted to just $1.1 million during the third quarter. The company posted a loss of $26 million that quarter."

"Not only that, but Truth Social appears to be shrinking. The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year."

As soon as the 6-month lock-up period is done and founders can finally cash out their shares, there will be a race to the exits.

#OrangeMussolini used his initials as the stock ticker. I just can't wait to share the graph showing DJT stock in freefall. You can't make this (expletive) up.

#Trump #SPAC #DigitalWorld #Investing #Invest #Finance #DevinNunes #Fraud

https://www.cnn.com/2024/03/22/business/tr
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Re: The Tiny Scandals and Trials

#1118

Post by Jeff from TX »

ti-amie wrote: Sat Mar 23, 2024 1:28 am Shannon Skinner (she/her)
@shansterable@c.im
Please ignore the man behind the curtain claiming "Trump is about to get $3 billion richer after deal is approved to take his company public."

"SEC filings indicate Trump Media’s revenue amounted to just $1.1 million during the third quarter. The company posted a loss of $26 million that quarter."

"Not only that, but Truth Social appears to be shrinking. The number of Truth Social’s US monthly active users on iOS and Android is down 39% year-over-year."

As soon as the 6-month lock-up period is done and founders can finally cash out their shares, there will be a race to the exits.

#OrangeMussolini used his initials as the stock ticker. I just can't wait to share the graph showing DJT stock in freefall. You can't make this (expletive) up.

#Trump #SPAC #DigitalWorld #Investing #Invest #Finance #DevinNunes #Fraud

https://www.cnn.com/2024/03/22/business/tr
Except there is nothing to prevent foreign players from propping up the stock
It seems like time is going backwards towards 1984 . . . :freaking:
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Re: The Tiny Scandals and Trials

#1119

Post by ti-amie »

With his takeover of the RNC and this scheme it seems to me he's set himself up to receive tons of money from overseas. It's still not clear to me if he will get his tiny hands on enough money by Monday.
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Re: The Tiny Scandals and Trials

#1120

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Adam Klasfeld
@KlasfeldReports

On Trump's Truth Social post on Justice Merchan's daughter:

This isn't a new line of attack.

Trump tried going after her before in a failed bid to recuse the judge, who noted in a ruling that a judicial ethics committee found there was no conflict.
Image

Kyle Cheney
@kyledcheney
BREAKING: NY judge issues a gag order restricting Trump's ability to attack witnesses, prosecutors, their families or jurors. https://nycourts.gov/LegacyPDFS/press/P ... dicial.pdf

Image
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Re: The Tiny Scandals and Trials

#1121

Post by ti-amie »

Trump posts $175M bond to keep N.Y. authorities from seizing property

By Shayna Jacobs
April 1, 2024 at 8:23 p.m. EDT

NEW YORK — Donald Trump posted a $175 million bond on Monday to prevent New York authorities from seizing his assets, including properties such as Trump Tower, pending appeal of a civil fraud judgment against him of nearly a half-billion dollars.

The former president’s posting of the bond was necessary to keep New York Attorney General Letitia James (D) from initiating legal steps to take over his properties.

After a 10-week trial late last year, New York Supreme Court Justice Arthur Engoron found Trump, the Trump Organization, Trump’s adult sons and two former executives liable in February for using illegal tactics to knowingly cheat business partners to increase the company’s profits and savings.

Trump lawyers recently argued to an appeals court that he was unable to post a bond of over $450 million, roughly the size of the judgment against him with interest included, mainly because about 30 surety companies he consulted with would not accept his real estate as collateral, only liquid assets.

In a decision last week, an appellate court panel reduced the size of the bond he would have to post to $175 million on the condition that he post it within 10 days and that he file his appeal of Engoron’s verdict in a timely fashion.

If he does not win his appeal, Trump will still owe more than $450 million from a civil court judgment after James won the fraud case against him, alleging he deceived lenders and insurance companies by inflating his net worth by up to $2.2 billion annually from 2011 to 2021.

Trump’s tab is growing by about $100,000 a day because interest will continue to accrue until the appeal ends.

James could also pursue prized assets in Trump’s real estate portfolio such as Mar-a-Lago in Palm Beach, Fla., which serves as his home and private club. Trump’s real estate assets are key to his image as a real estate mogul who owns and manages luxury properties around the world.

Trump has denied any wrongdoing in the civil fraud case and other pending cases against him. He is the likely Republican nominee to challenge President Biden, a Democrat, in the election in November.

https://www.washingtonpost.com/national ... 5-million/
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Re: The Tiny Scandals and Trials

#1122

Post by ti-amie »

Harry Litman @harrylitman

Trump’s guardian angel for the bond is Don Hankey, an 80-year-old multi billionaire from LA who made his fortune with subprime car loans and already holds at least two very large trump loans.
He's chairman of Knight Insurance Group
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Re: The Tiny Scandals and Trials

#1123

Post by ti-amie »

This would be a seizure by the Feds not NYS.

ClearingTheFog
@clearing_fog

Not an April Fools Joke

“DOJ said an apartment at Trump Tower bought for the Congolese president’s daughter is a candidate to be seized by the federal government because it was allegedly used to launder funds stolen from the country.”
WaterBluSky.bsky.social. 🇺🇸 🌻 🇺🇦
@MsMariaT

DOJ moves to seize the Trump Tower apartment of Denis Sassou Nguesso, former president of Congo who is accused of embezzling hundreds of millions of dollars from his country's treasury, using a Portuguese shell company https://forbes.com/sites/maryroeloffs/2 ... -treasury/
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Re: The Tiny Scandals and Trials

#1124

Post by ti-amie »

Lisa Rubin
@lawofruby
NEW: The company that underwrote Trump's bond tonight in the NY Attorney General's civil fraud case, Knight Specialty Insurance Co., is owned by Don Hankey, the so-called "king of subprime car loans." But that's not all. 1/

Hankey, who is #128 on Forbes’s 2023 list and #317 on the 2023 Forbes billionaires list, made his money in auto services. But he is also believed to be the largest shareholder in Axos Bank. 2/

If Axos sounds familiar, it's because it's the financial institution that refinanced Trump’s loans on Trump Tower and Doral in 2022. Specifically, Axos has loaned Trump $100 million in his refinancing of Trump Tower and another $125 million for Doral. 3/

Both loans are not due until 2032, according to the Office of Government Ethics disclosure Trump made in August 2023. The list of his liabilities, as it appears in that filing and which references both Axos loans, is pasted below here. 4/



Image
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Re: The Tiny Scandals and Trials

#1125

Post by ti-amie »

Lisa Rubin
@lawofruby
Today, I learned that the court filing reflecting Trump’s bond in the civil fraud case was “returned for correction” and specifically, for the inclusion of a current financial statement and power of attorney. But all is not what it seems. 1/

The financial statement that is missing does not seem to be Trump’s. Rather, the court appears to be demanding these documents from Knight Specialty Insurance Co. to ensure that company is sufficiently capitalized and authorized to post the bond. 2/

As of tonight, those documents do not appear on the docket. 3/

Meanwhile, we still don’t know what fee Trump paid for the bond or exactly what collateral he pledged, especially as Don Hanley gave slightly different accounts to various media outlets. 4/

But you know who likely DOES have all of those details? Retired federal judge Barbara Jones, the court-appointed monitor in the case. Under a 3/21/24 order, the Trump Org must give her advanced notice of their efforts to secure surety bonds. 5/

The information she is entitled to includes “any financial disclosures requested or required, any information provided in response to such requests, any representations made by the Trump Org. in connection with acquiring such bonds…” 6/

“…any personal guarantees made by any of the defendants, & any obligations of the Trump Organization required by the surety.” 7/

And I can think of a courtroom full of journalists, as well as a bunch of lawyers in the New York Attorney General’s office, who would love to know what Barbara Jones presumably knows right now. FIN
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