Democrats Succeed At Crippling Trump

They want to take every single penny Trump has ever earned away from him and it’s disgusting.

In a recent development disclosed in court documents, Donald Trump’s legal representatives asserted that satisfying his $400 million civil fraud penalty in New York would present a significant challenge for the former president. This penalty stems from a lawsuit brought forth by New York Attorney General Letitia James in 2022, accusing Trump, along with his adult sons and other Trump Organization officials, of orchestrating a prolonged scheme to inflate his net worth and asset values for the purpose of securing more favorable business loans.

Despite Trump’s persistent claims of innocence, Judge Arthur Engoron ruled against him last fall, holding him accountable for fraud. Consequently, Trump was mandated to pay a penalty of $355 million, which, inclusive of interest, amounted to over $454 million.

Presently, Trump is seeking a bond worth $464 million to cover both his fines and the disgorgement for his sons, as he endeavors to appeal the verdict. Disgorgement entails surrendering any profits acquired through illegal or wrongful actions. However, Trump’s legal team acknowledged in a recent court filing the formidable challenge of obtaining such a substantial bond, deeming it a “practical impossibility” given the circumstances.

The filing articulated that despite exhaustive efforts, securing a bond of this magnitude has proven elusive. Gary Giulietti, an executive with Lockton Companies, the insurance firm enlisted by Trump to assist in obtaining the bond, corroborated this assertion. The document was submitted to a mid-level New York state appeals court, contending that the requirement of such an exorbitant bond for an appeal is excessive and would inflict irreparable harm on the defendants.

Furthermore, reports have surfaced suggesting that Trump’s current financial liquidity falls short of the civil judgments against him, complicating his ability to meet the penalty. Additionally, Trump’s options for offering suitable collateral against the bond are purportedly limited, as traditional assets like real estate may not suffice.

In their plea to the court, Trump’s legal team requested oral arguments to present their case. Should the appeals court deny this request, the filing also seeks permission to escalate the matter to the highest appeals court in New York State.