Trump's Assets Could Be Seized As He Can't Afford $464 Million Bond

[Tom of Temecula]

Trump’s lawyers admitted in court that he can’t post the $454 million fraud judgment bond because he lacks the cash to back it. CNN reported on a filing by Trump’s lawyers:”

The amount of the judgment, with interest, exceeds $464 million, and very few bonding companies will consider a bond of anything approaching that magnitude,” Trump’s lawyers wrote. (Trump himself was ordered to pay $454 million; the $464 million includes the disgorgement for his adult sons Don Jr. and Eric.) ... An insurance broker, Gary Giulietti, who testified for Trump during the civil fraud trial, signed an affidavit stating that securing a bond in the full amount “is a practical impossibility.” ... Potential underwriters are seeking cash to back the bond, not properties, according to Trump’s lawyers.

Donald Trump’s problem is that he doesn’t actually own much real estate in New York. His biggest holding appears to be Trump Tower, but it is unclear if he owns the building outright. Other buildings that either carry Trump’s name in New York or are listed among his holdings are licensing deals, ground leases, or places he might own a portion of.

It is very difficult for Trump to sell a building or two in New York to cover the bond when he does not own much in New York that he could sell. James could seize Trump Tower and 40 Wall Street, but unless Donald Trump wants to sell his Florida properties, it is clear why he is struggling to come up with the cash. Donald Trump’s illusion of vast wealth was just another con.

https://www.politicususa.com/2024/03/18/trumps-assets-could-be-seized-as-he-cant-afford-464-million-bond.html

[Blue Owl]

1. Can they seize his ass, too?

And maybe lock him up?

[Traildogbob]

5. My first thought too😂😂😂

My take a crane.

[magicarpet]

16. Stormy says all you need are tweezers if you want to seize his penis.

But who the hell wants that ? Even Melania has rejected it.

[SoFlaBro]

59. Some would call it a 30-cent stack of dimes.

[Ocelot II]

19. Ick, who wants it?

[Blue Owl]

34. I want it -- locked up in a jail cell!

[SergeStorms]

41. I'll take it.

Put it in a chopped garlic jar with formaldehyde in it and charge the MAGAts $10 to worship it for 5 minutes.

I'd make a fortune to pay for Attorneys to help immigrants entering the U.S. Nothing would frost Trump's and his cult's flakes more than that. 😁

I'd damn sure get better Attorneys than Trump has, too!

[elleng]

2. Right. New York's gonna take them!

[WarGamer]

3. or he sells assets...

[Ping Tung]

8. Isn't he doing that with trading cards and golden sneakers?

[WarGamer]

10. I was thinking more like selling real estate...

[Ping Tung]

15. Maybe he can sell some property to a Russian oligarch.

Putin Towers has a rather exotic ring to it.

[Ocelot II]

20. The problem is that he doesn't own most of his real estate outright.

Most of it is either co-owned, mortgaged, encumbered in other ways, or was never his to begin with; he just licensed his name to use on some properties. He was never as rich as he let on, and now he doesn't even have much cash or other relatively liquid assets like stocks that he could sell.

Ha, ha.

[NYC Liberal]

35. Mar a Lago is worth over a billion according to the orange conman

That’ll easily cover it. Obviously he would never inflate his property’s value…right?

[WarGamer]

46. I Don't know why he hasn't started selling stuff...

He can certainly sell his Tower penthouse and the commercial/parking areas...

But he doesn't want to as he's probably hoping for the judgment to be reduced by the Courts

Just a delay tactic I guess

[NanaCat]

50. Seize the penthouse

And turn it into a migrant detention center. After redecorating it. We don't want to traumatize our future citizens.

[WarGamer]

51. How about all the people who own apartments there?

[NanaCat]

63. What about them?

Are you trying to say that migrants aren't good enough to live next to the owners of those flats? Who are they to be so particular? They lived next to a pig when he resided there. The migrants would be an improvement.

BTW: I realize it won't happen. It's fun to think about, though.

[LiberalFighter]

54. There is a monitor in place that restricts what he can do with his assets.

[WarGamer]

56. Not true

He simply has to ask the monitor for permission to sell property to satisfy the judgment or bond.

The court appointed monitor would have no legitimate reason to say no.

[LiberalFighter]

53. Tower Trump isn't owned by him. Right?

If so, I would think the actual owners would want to remove his name asap.

[Ocelot II]

58. Here's what he does and doesn't own in NYC.

https://www.curbed.com/article/trump-lawsuit-real-estate-nyc-letitia-james.html

[SergeStorms]

42. Doesn't he value his "brand"....

at $10 billion, or some ridiculous amount?

Get George Soros to buy it (the patron saint of liberals, right?) then the whole Trump family can't use their last name anymore.

Have the contract stipulate that George would even get to choose Trump's replacement name. "Duck" would be good, but they'd probably run into ©️ problems with Disney. "Donald Shithead" has a nice ring to it. The possibilities are endless! 😉

[Irish_Dem]

4. Underwriters will only take cash, not properties as collateral.

Interesting.

[getagrip_already]

13. They will take properties if they can get a clear title

But it's doubtful they can since much of it heavily leveraged, or he is just a minority owner in a real estate trust, or there isn't enough equity to bother with.

He is running a game of 3 card Monty with other people's money and the bond companies aren't interested in playing.

[Irish_Dem]

17. Exactly. Trump has been robbing Peter to pay Paul for decades.

Michael Cohen says Trump's properties are all heavily mortgaged.
Looks like Cohen is right.

Trump's properties have no financial value to Trump.
And he obviously doesn't have much cash.

Sounds like Trump is broke?

[Ocelot II]

21. He probably used up whatever collateral he had in order to get the bond for the Carroll case.

And now he's screwed. I love it.

[Irish_Dem]

26. Which must mean he had less than a $100 million in collateral?

But Trump says he is worth $10 Billion.

NOPE.

[ProfessorGAC]

40. Even He Didnt Lie That Much

Back in '16, he claimed assets of $10.2 billion & debt of $5.4 billion.
So his greatest exaggeration was being worth $4.8 billion.
Yeah, that was a lie. Moody's estimated asset value at barely over $8 billion, but we now know there was at least another $1.2 billion in long term debt.
Sure, that's would still be positive net worth in 10 figures, but now we know that values may have been more overstated than even Moody's could define. And, we don't know how much off-the-books loans are out there because they could be personal loans, not part of the company.
But, if he has too little cash or near cash to come up with $470 million, he can't be worth over a billion, and he's got all his eggs in one basket.
He definitely lied about his net worth, but even he never claimed that high a number.

[LiberalFighter]

55. They don't want to deal with issues dealing with other co-owners.

[gab13by13]

6. Letitia James is due to make another statement,

I love when she Beoach slaps him right across the kisser. She doesn't pull any punches.

[Irish_Dem]

27. And she says in a very calm, matter of fact, soft spoken way.

Like Nancy Pelosi. She can cut off your head and you don't even know it happened.

[aeromanKC]

7. Send him to Rikers until he forks it over in full.

[NanaCat]

52. Not how it works

It's a civil matter, not criminal.

[SWBTATTReg]

9. Serves him right, being that he's ripped off taxpayers, the banks and other lending institutions of a huge

amount of money over the decade(s) or so that he's ripped off people. I hope that he suffers. He deserves it.

[Pinback]

11. There's a Wendy's near me that's hiring.

But he’s underqualified.

[Irish_Dem]

28. Would you let Trump anywhere near a cash register?

Or a hamburder?

[MLAA]

67. And he'd eat all the profits.

[MOMFUDSKI]

12. Can they start with his orange

clown makeup? Then the Adderol supply ?

[Kammer]

14. Jet

Take his Jet first!

[magicarpet]

18. Get the 747 jet as the first property seizure.

That will curtail his coast to coast Nazi Rallies.

[Ocelot II]

22. I wonder what that old crate is worth any more? It's a 757, not a 747,

and in any event it's more than 30 years old. He paid $100M for it in 2011 (or so he says), but a lot of that cost went into making it special - it even has gold-plated bathroom fixtures and seat belt buckles. What's the resale value of a 30-year-old airplane with an interior that looks like it once belonged to Saddam Hussein's pimp. It's tacky in the same way the Trump Tower apartment is tacky.

The airplane is owned by one of the Trump Organization companies, Tag Air. "In an April filing with the Office of Government Ethics, Trump claimed that the TAG Air had a value of $1,001 or less. Then, in a revised July filing, Trump valued TAG Air at between $5 million and $25 million. In the mere three months that elapsed between the two disclosures, Trump's estimate of TAG Air's value jumped by a factor of 5,000 or more. It's unclear what prompted Trump's accountants to make such a drastic change. Steven Cheung, a spokesperson for Trump's campaign, did not respond to a request for comment." https://finance.yahoo.com/news/april-trump-said-private-jet-172603696.html

[LiberalFighter]

57. They need to go after the employees signing off on the value.

[getagrip_already]

25. Its a 20 y.o. 757.. probably worth $12m

Depending on last overhaul, maintenance history, and flight history.

Not more than $20m though. Lots of similar Corp jets listed for sale in that range.

[Irish_Dem]

29. He needs a lot more than $12m.

But it's a start.

[getagrip_already]

33. In a quick sale sction, it might not even get half that

And then the auction house gets a third.

Then creditors get whatever the note is worth.

Plus airport fees.

Ny might end up with almost, if not nothing. Trump would still owe the note though I think.

[Irish_Dem]

36. It is likely Trump owes more on all his assets than they are worth.

Yes I assume he still owns the debt.

[JustABozoOnThisBus]

24. Does he own that jet? or is it leased?

If he owns it, how much is owed to the bank?

There may not be much money there.

[Ocelot II]

48. It seems to be owned by one of the Trump Organizations.

Whether there are mechanics' liens for work on the airplane or other debts isn't clear (but Trish James might know by now). It certainly isn't worth the $100M he said he paid for it.

[Takket]

23. It has been a fantasy of mine for years that Trump tower is seized and turned into a jumping off point for immigrants

[NanaCat]

60. The problem is that

His crappy tower has around 260 other tenants who own their flats, plus numerous business tenants who can't be booted, willy-nilly.

Turning it into a migrant center is exceedingly unlikely, much as many of us wish it could be.

[Jerry2144]

30. He probably owes more on the properties than they're worth

I’m sure he has pulled that level of fraud. More than likely he owes double what each property’s worth. I doubt there is any untapped equity in anything.

His mental decline will accelerate as it becomes more clear how big a fraud he is

[Irish_Dem]

31. Yes. The underwriters won't take his properties as collateral.

Sounds like he is upside down on everything.
He has no equity in them at all.

[louis-t]

61. He has always paid too much for properties.

Then tries to screw contractors, partners, the government, whoever, to make up the loss. He usually fails, as in the golf courses in Scotland and Ireland that are losing a million or more every year. 'Great businessman', my ass.

[Happy Hoosier]

32. I kinda saw this coming....

I found it hard to imagine a bond company being willing to accept the risk of a half-billion dollars. My guess is that damn few bond companieseven have the assets to pledge such a bond without immediately liquid collateral.

That kind of money is a potential company-ending event. Who would risk that on Don the Fraud?

[RobertDevereaux]

37. Wait not one instant. Seize Them Now!

[NanaCat]

65. They have to wait until the 30 days after Engoron

Filed the ruling officially before they can begin asset seizure. That won't be until next Monday.

Even then, it won't be a matter of going in and grabbing to be grabbing. Many of his assets aren't the property of the organization alone--he has partners and so on that must be sorted out.

[Purrfessor]

38. Trump is a nillionaire.

[Silent3]

39. I wish Alex Jones had been subject to this kind of forfeiture

How many more decades until the Sandy Hook parents see a dime from him?

[OAITW r.2.0]

43. Trump's claimed property valuations are probably way out of line with the current reality.

And Trump had a lot to do with that.

By not reacting to the Covid 19 virus that was standing up CDC in Dec of 2019, he helped the virus to gain a broad foothold in the US. Lots of people were forced out of offices to work remotely. The RE markets in many large US cities have not recovered from this change. These large properties have to be worth way less than they were prior to Covid. Add to this all of the loans he's made on these properties.....I really doubt he's got anywhere near any significant net value in these properties.

[twodogsbarking]

44. We are at this moment enjoying popcorn; not copporn.

[Demobrat]

45. So happy E Jean was first in line

to get her cash in place. Would suck to be at the end of the line of his creditors.

[CTyankee]

49. What he did to her was so vile and disgusting! For that alone, he needs to rot in jail.

[limbicnuminousity]

47. What a great way to start the week!

The 25th should be fun.

[lastlib]

62. The Sick F*ck's mouth has again written a check.....

that his butt can't cash.......
and neither can his bank(s).

Tragic.....I just want to cry for him........
( ) j/k.

[Runningdawg]

64. The Federal Insurance Company secured his 91 million bond and the judge accepted the terms in the EJean case Friday.

[link:https://thehill.com/regulation/court-battles/4527387-judge-approves-trumps-91-million-bond-in-e-jean-carroll-lawsuit/|

Someone wanting their 15 min of fame and willing to pay 500 million for it will guarantee this one too.

[cloudbase]

66. Time for Melania to warm up the webcam.

[Barry Markson]

68. And he wants to free the January 6th insurgents?

The Biden administration needs to start confiscating the assets and property of all the traitors to this country as well!

FDR did it to the Japanese by executive order after the attack on Pearl Harbor.
What Trump and his bloodthirsty followers committed deserves no less!