Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Sdgla who wrote (1442758)	2/28/2024 5:27:08 PM
From: Brumar89	3 Recommendations Recommended By pocotrader rdkflorida2 Wharf Rat Read Replies (1) \| Respond to of 1575420

NATO would crush Russia and Putin knows it, says British military boss (msn.com)

To: Sdgla who wrote (1442758)

2/28/2024 5:30:38 PM

From: Brumar89

2 Recommendations

Recommended By
pocotrader
rdkflorida2

Respond to of 1575420

Trump admits he'll have to sell buildings to come up with $450M in cash

Kathleen Culliton
February 28, 2024 2:30PM ET

Trump Tower in New York City (Shutterstock)

Real estate mogul and former president Donald Trump admitted Wednesday he'd have to sell off properties to pay the $450 million he owes in damages after a ruling in his civil fraud trial.

Trump filed a more than 1,790-page emergency motion to a New York appeals court requesting a stay on Judge Arthur Engoron's verdict which he said would cause "irreparable harm," and offering to hand over a $100 million bond instead.

"In the absence of a stay on the terms herein outlined, properties would likely need to be sold to raise capital under exigent circumstances," Trump's attorneys wrote. "And there would be no way to recover any property sold following a successful appeal and no means to recover the resulting financial losses."

The video player is currently playing an ad.
As attorney Bradley Moss summarized it, "He doesn’t have the cash."

Moss also noted this contradicts a previous boast of Trump's that he has "$400 million liquid." He made the claim during deposition for the trial involving E. Jean Carroll. He was ultimately found liable for defamation in that case.

The New York Attorney General's office, which brought the massive civil fraud case, believes the appeals court judge will issue a decision by the end of Wednesday, the Daily News reports.

ALSO READ: ‘America First’ is Trump first, Russia close second

Trump was found liable for fraud after exaggerating the value of his properties to secure favorable rates for loans and insurance, Engoron found. He hit him with the damages and also ruled that the former president could not conduct business in New York for three years.

Trump filed an intent to appeal, but cannot begin that appeal until the damages are paid or an agreed upon bond is secured. Trump has the difficulty that he is not allowed to loan money from any banks doing business in New York, as another term of Engoron's ruling.

To: Sdgla who wrote (1442758)	2/28/2024 5:31:43 PM
From: Brumar89	2 Recommendations Recommended By pocotrader rdkflorida2 Respond to of 1575420

New York Attorney General Warns Court Trump Doesn’t Have Enough Cash to Pay Fraud Penalty Letitia James Says Trump Cannot Pay Fraud Penalty (mediaite.com)