{"id":83921,"date":"2024-03-19T21:49:38","date_gmt":"2024-03-19T21:49:38","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/03\/19\/letitia-james-could-start-seizing-trumps-assets-on-monday-after-the-ex-president-admits-hes-too-cash-poor-to-pay-464-million-civil-fraud-judgment\/"},"modified":"2024-03-19T21:49:38","modified_gmt":"2024-03-19T21:49:38","slug":"letitia-james-could-start-seizing-trumps-assets-on-monday-after-the-ex-president-admits-hes-too-cash-poor-to-pay-464-million-civil-fraud-judgment","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2024\/03\/19\/letitia-james-could-start-seizing-trumps-assets-on-monday-after-the-ex-president-admits-hes-too-cash-poor-to-pay-464-million-civil-fraud-judgment\/","title":{"rendered":"Letitia James Could Start Seizing Trump\u2019s Assets on Monday After the Ex-President Admits He\u2019s Too Cash-Poor to Pay $464 Million Civil Fraud Judgment"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"has-dropcap\">Unless you\u2019ve been living under a Trump-repellant rock, you likely know that <a href=\"https:\/\/www.vanityfair.com\/topic\/donald-trump\" target=\"_blank\" rel=\"noopener\"><strong>Donald Trump<\/strong><\/a> has spent his entire adult life bragging about how rich he is. \u201cThe beauty of me is that I\u2019m very rich,\u201d\u00a0he <a data-offer-url=\"https:\/\/abcnews.go.com\/Politics\/donald-trump-president-trump-weighs-sheen-palin-obama\/story?id=13154163\" class=\"external-link\" data-event-click=\"{&quot;element&quot;:&quot;ExternalLink&quot;,&quot;outgoingURL&quot;:&quot;https:\/\/abcnews.go.com\/Politics\/donald-trump-president-trump-weighs-sheen-palin-obama\/story?id=13154163&quot;}\" href=\"https:\/\/abcnews.go.com\/Politics\/donald-trump-president-trump-weighs-sheen-palin-obama\/story?id=13154163\" rel=\"noopener\" target=\"_blank\">said<\/a> in 2011. \u201cI\u2019m really rich,\u201d\u00a0he <a href=\"https:\/\/time.com\/3923128\/donald-trump-announcement-speech\/\" target=\"_blank\" rel=\"noopener\">declared<\/a> while announcing his first run for the White House in 2015. \u201cI have total net worth of $8.73 billion,\u201c he <a href=\"https:\/\/www.theguardian.com\/us-news\/2015\/jun\/16\/donald-trump-reveals-net-worth-presidential-campaign-launch\" target=\"_blank\" rel=\"noopener\">claimed<\/a> at the time. Of course, another thing you probably know about Trump is that he\u2019s a <a href=\"https:\/\/www.vanityfair.com\/news\/2023\/09\/trumps-lying-about-everything-may-cost-trump-tower\" target=\"_blank\" rel=\"noopener\">pathological<\/a> <a href=\"https:\/\/www.washingtonpost.com\/politics\/2021\/01\/24\/trumps-false-or-misleading-claims-total-30573-over-four-years\/\" target=\"_blank\" rel=\"noopener\">liar<\/a>\u2014and this week, his lies about his wealth ran headfirst into reality.<\/p>\n<p>On Monday, the ex-president\u2019s attorneys <a href=\"https:\/\/www.politico.com\/news\/2024\/03\/18\/trump-cant-post-bond-new-york-civil-case-00147563\" target=\"_blank\" rel=\"noopener\">told<\/a> an appellate court that he can\u2019t find a company willing to give him a bond to cover the $464 million judgment rendered against him (and the Trump Organization and his adult sons) in a civil fraud case that, ironically, found him <a href=\"https:\/\/www.nytimes.com\/2024\/02\/16\/nyregion\/trump-civil-fraud-trial-ruling.html\" target=\"_blank\" rel=\"noopener\">liable for inflating his net worth<\/a>. In <a data-offer-url=\"https:\/\/s3.documentcloud.org\/documents\/24485116\/2024_01134_people_of_the_state_of_v_people_of_the_state_of_affidavit_or_affirm_11.pdf\" class=\"external-link\" data-event-click=\"{&quot;element&quot;:&quot;ExternalLink&quot;,&quot;outgoingURL&quot;:&quot;https:\/\/s3.documentcloud.org\/documents\/24485116\/2024_01134_people_of_the_state_of_v_people_of_the_state_of_affidavit_or_affirm_11.pdf&quot;}\" href=\"https:\/\/s3.documentcloud.org\/documents\/24485116\/2024_01134_people_of_the_state_of_v_people_of_the_state_of_affidavit_or_affirm_11.pdf\" rel=\"noopener\" target=\"_blank\">their filing<\/a>, Trump\u2019s legal team said that \u201congoing diligent efforts have proven that a bond in the judgment\u2019s full amount is a \u2018practical impossibility\u2019,\u201d adding that Team Trump has approached \u201cabout 30 surety companies through 4 separate brokers.\u201d According to the lawyers, the only bond companies that will even entertain the possibility of covering a judgment of more than $464 million will not accept real estate as collateral and \u201cwill only accept cash or cash equivalents.\u201d Making matters worse, Trump\u2019s lawyers said, these companies typically \u201crequire collateral of approximately 120% of the amount of the judgment,\u201d which \u201c\u2018would require Defendants to hand over collateral in the form of cash or cash equivalents of approximately\u2019 $557 million.\u201d<\/p>\n<p class=\"paywall\">But wait, one might say: If Trump is <a href=\"https:\/\/www.washingtonpost.com\/news\/the-fix\/wp\/2015\/06\/16\/the-wiggle-room-around-donald-trumps-9-billion-revelation\/\" target=\"_blank\" rel=\"noopener\">as rich as he says he is<\/a>, and his business is as successful as he has long claimed, coming up with $557 million should be no problem. But, of course, Trump <em>isn\u2019t<\/em> as rich as he claims to be. As of last year, he was <a href=\"https:\/\/www.forbes.com\/sites\/danalexander\/article\/the-definitive-networth-of-donaldtrump\/?sh=313700fd2a8e\" target=\"_blank\" rel=\"noopener\">reportedly<\/a> worth $2.6 billion\u2014which is a lot richer than your average American, but nowhere near what he has bragged and definitely not enough to put up more than half a billion in cash. In an affidavit included in the filing, <strong>Gary Giulietti,<\/strong> who helped the Trump Organization reach out to bond companies, said: \u201cWhile it is my understanding that the Trump Organization is in a strong liquidity position, it does not have $1 billion in cash or cash equivalents.\u201d<\/p>\n<p class=\"paywall\">Not surprisingly, Trump threw a shit fit about all of this on Truth Social on Monday, <a href=\"https:\/\/www.rollingstone.com\/politics\/politics-news\/trump-rages-truth-social-appeal-bond-1234990412\/\" target=\"_blank\" rel=\"noopener\">raging<\/a> \u201cJudge [<strong>Arthur] Engoron<\/strong> actually wants me to put up Hundreds of Millions of Dollars for the Right to Appeal his ridiculous decision. In other words, he is trying to take my Appellate Rights away from me when I have already won at the Appellate Division, but he refuses to accept their already made decision.\u201d (As <em>Rolling Stone<\/em> notes, \u201cappeal security bonds are a common practice in civil courts throughout the country\u201d\u00a0and \u201cthe bond essentially guarantees that the individual would be able to pay the amount owed should they lose their appeal, and helps prevent individuals from indefinitely skirting penalties by delaying the enforcement of an order through the appeals process.\u201d)<\/p>\n<p class=\"paywall\">A full appellate court panel will soon hear Trump\u2019s request for a stay of enforcement on the civil penalty after an emergency appeals judge rejected the plea. New York attorney general <strong>Letitia James<\/strong> already gave the ex-president <a href=\"https:\/\/www.nytimes.com\/2024\/03\/18\/nyregion\/trump-bond-civil-fraud-case.html\" target=\"_blank\" rel=\"noopener\">a 30-day grace period<\/a> to put up the bond, and if she doesn\u2019t extend it, come March 25, she could start seizing his assets. As she <a href=\"https:\/\/www.axios.com\/2024\/02\/21\/trump-civil-fraud-fine-ny-ag-may-seize-assets\" target=\"_blank\" rel=\"noopener\">said<\/a> in February, \u201cI look at 40 Wall Street each and every day,\u201d referring to the downtown Trump-owned building.<\/p>\n<p class=\"paywall\"><strong>Nothing to see here, just Jared Kushner openly fantasizing about Israel getting rid of everyone in Gaza to build valuable \u201cwaterfront property\u201d<\/strong><\/p>\n<p class=\"paywall\">Perhaps he\u2019ll get to work on this initiative <a href=\"https:\/\/www.vanityfair.com\/news\/jared-kushner-secretary-state-trump-insiders-buzzing#:~:text=Secretary%20of%20State%3F-,Trump%20Insiders%20Are%20Buzzing%20About%20It,purely%20on%20a%20revenge%20tour.%E2%80%9D\" target=\"_blank\" rel=\"noopener\">as secretary of state<\/a>. Per the <a href=\"https:\/\/www.theguardian.com\/us-news\/2024\/mar\/19\/jared-kushner-gaza-waterfront-property-israel-negev\" target=\"_blank\" rel=\"noopener\"><em>Guardian<\/em><\/a>:<\/p>\n<blockquote class=\"BlockquoteEmbedWrapper-sc-SdiGL kMAUQf paywall blockquote-embed\">\n<div class=\"BlockquoteEmbedContent-esRbGs fyBRiV blockquote-embed__content\">\n<p>Jared Kushner has praised the \u201cvery valuable\u201d potential of Gaza\u2019s \u201cwaterfront property\u201d and suggested Israel should remove civilians while it \u201ccleans up\u201d the strip. The former property dealer, married to Donald Trump\u2019s daughter <strong>Ivanka,<\/strong> made the comments in an interview at Harvard University on March 8.<\/p>\n<p>\u201cGaza\u2019s waterfront property could be very valuable\u2026if people would focus on building up livelihoods,\u201d Kushner told his interviewer, Harvard\u2019s Middle East Initiative faculty chair, <strong>Tarek Masoud.<\/strong> Kushner also lamented \u201call the money\u201d that had gone into the territory\u2019s tunnel network and munitions instead of education and innovation. \u201cIt\u2019s a little bit of an unfortunate situation there, but from Israel\u2019s perspective I would do my best to move the people out and then clean it up,\u201d Kushner said.<\/p>\n<\/div>\n<\/blockquote>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.vanityfair.com\/news\/letitia-james-could-start-seizing-trumps-assets-on-monday\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unless you\u2019ve been living under a Trump-repellant rock, you likely know that Donald Trump has spent his entire adult life bragging about how rich he is. \u201cThe beauty of me is that I\u2019m very rich,\u201d\u00a0he said in 2011. \u201cI\u2019m really rich,\u201d\u00a0he declared while announcing his first run for the White House in 2015. \u201cI have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":83922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54,7083],"class_list":{"0":"post-83921","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-celebrity","8":"tag-donald-trump","9":"tag-trump-organization"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/83921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=83921"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/83921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/83922"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=83921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=83921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=83921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}