Don Hankey, the chairman of Knight Specialty Insurance and a major player in the subprime auto loan industry, underwrote a $175m bond for Donald Trump to delay a $454m civil fraud judgment, stating that he was "happy to do it" and that it was a quick and easy transaction. Hankey, who is worth over $7.4bn, confirmed his support for Trump's past political campaigns and indicated a willingness to support future ones. His company, known for high-interest car loans, has faced scrutiny for deceptive collection tactics, and some financial analysts have expressed concerns about the subprime auto loan industry.
A New York appeals court has given Donald Trump 10 more days to post a $175 million bond as he appeals a civil fraud judgment against him, reducing the amount from over $500 million. This ruling delays the prospect of New York Attorney General Letitia James seizing Trump's property to enforce the judgment. Trump had been struggling to come up with the means to post the original bond amount. The order also stayed the enforcement of several penalties, allowing Trump and his sons to continue running a business in New York and obtaining loans from New York financial institutions for now.
A New York appeals court has agreed to delay the collection of Donald Trump's $454 million civil fraud judgment if he posts a $175 million bond within 10 days, allowing him to appeal the ruling. The court also reversed a ruling barring Trump and his sons from serving in corporate leadership. New York Attorney General Letitia James plans to initiate efforts to collect the judgment if Trump doesn't comply. Trump's lawyers argue that it's impractical to secure a bond for such a large sum, while Trump claims he has almost $500 million in cash but intends to use much of it for his presidential run.
Donald Trump faces a Monday deadline to cover a $454 million civil fraud judgment or risk New York state seizing some of his properties, including Trump Tower and 40 Wall Street. Trump must either pay the money or post a bond while he appeals the judgment. The case, brought by New York Attorney General Letitia James, alleges Trump manipulated his net worth and property values to deceive lenders and insurers. Trump's financial worries also include lagging campaign fundraising and other legal challenges, including criminal charges.
Donald Trump faces a Monday deadline to secure a $464 million bond for a civil fraud judgment against him. If he fails, the New York Attorney General's office could begin seizing his assets, including bank accounts and properties, to cover the ruling. The process for seizing bank accounts is relatively straightforward, while seizing properties is more complex and time-consuming. Legal battles over out-of-state properties, such as Mar-a-Lago in Florida, could also unfold. Bankruptcy remains an option, but Trump is seeking to avoid it. If he doesn't come up with the money, his options are limited, and experts believe the situation is dire for the former president.
Donald Trump claims to have nearly $500 million in cash but prefers to use it for his presidential campaign rather than to pay the $454 million civil fraud judgment against him in New York. His lawyers have been struggling to obtain a bond covering the judgment, and Trump's cash claim has not been substantiated. New York Attorney General Letitia James is fighting Trump's request to excuse him from providing financial guarantees, and she is prepared to seek to seize some of his assets if an appeals court does not intervene.
New York Attorney General Letitia James is prepared to seize Donald Trump's assets, including Trump Tower, if he fails to pay a $464m civil fraud judgment. Trump has struggled to secure a bond to satisfy the judgment, and his attorneys have approached multiple surety companies without success. New Yorkers have mixed opinions on the potential seizure, with some expressing support for it and others defending Trump. The attorney general's office has already taken steps to recover some of Trump's assets, and while Trump Tower is at risk, other Trump-owned properties may also be targeted.
New York Attorney General Letitia James' office is pushing for former President Donald Trump to post a bond covering the full $454 million civil fraud judgment against him, despite his legal team's argument that it would be practically impossible. Trump has until Monday to meet the deadline, or James can seize his assets, including Trump Tower. Interest is accumulating on the penalty, and Trump's lawyers claim that very few bonding companies would consider a bond of that magnitude. James' office contends that Trump could attempt to secure a bond from multiple sureties and may not be revealing the true worth of his holdings.
Donald Trump faces a looming deadline to post a $464 million bond for a civil fraud judgment, with options narrowing to meet the requirement, including selling off properties or declaring bankruptcy. The judgment stems from a lawsuit brought by the New York Attorney General, and if Trump fails to meet the deadline, the AG can start collecting on the judgment. Trump's attorneys argue that obtaining a bond for the full amount is a "practical impossibility," while the AG's office contends that Trump has valuable assets and could pay the judgment if needed. The former president's other potential avenues, such as appealing to a mid-level court or seeking bankruptcy protection, also face challenges.
Rep. Ted Lieu accuses Donald Trump of lying about not being able to pay a $464 million judgment, prompting criticism from Mark Cuban who explains that Trump's net worth is different from cash in the bank and that low interest rates have affected financial decisions. Trump's attorneys claim that obtaining the required appeal bond is a "practical impossibility," following a New York civil fraud judgment against him. A New York Appeals Court judge has ruled that Trump must post a bond for the full amount of the judgment, which stems from accusations of inflating assets and committing fraud in financial documents.
Donald Trump's lawyers have requested a New York appellate court to stop the collection of his $454m civil fraud judgment while he appeals, offering to post a $100m appeal bond instead of the full amount. They argue that a provision in the judge's ruling banning Trump from obtaining loans from New York banks for three years makes it impossible for him to obtain a bond covering the full judgment. The judge's ruling also imposes strict limitations on Trump's company, the Trump Organization, and mandates oversight by an independent monitor. Trump maintains that he is worth several billion dollars and has at least $543.4m in personal legal liabilities from this ruling and two other civil court judgments in the last year.
New York Attorney General Letitia James is taunting former President Donald Trump over the mounting interest he may owe on his $355 million civil fraud judgment, tweeting a running tally of the money he potentially now owes. Trump's legal team has filed a notice of appeal to overturn the ruling, which also saw him banned from doing business in New York for three years. James has vowed not to shy away from going after Trump's assets if he can't come up with the money or refuses to pay up, while Trump has accused James of launching a political "witch hunt" and claimed the justice system had been weaponized against him.
Truck drivers who support former president Donald Trump are refusing to drive to New York City in protest of a civil fraud judgment that fined Mr. Trump over $350 million. The ruling, which also implicated his sons and Trump Organization associates, has sparked strong opposition from Trump supporters, including truckers who are vowing to stop delivering loads to the city. The backlash has gained traction on social media, with the hashtag "Boycott NYC" trending. Additionally, a fundraiser to support Trump's defense against the judgment has already raised over $240,000, indicating a strong reaction to the legal challenges faced by the former president.
