Source: Chip Somodevilla / Getty
Hide the White House, y’all! There are broke people around!
Donald Trump is still running for president even though he is in the midst of multiple trials for “alleged” criminal conduct and has been found guilty of fraud, conspiracy, issuing false financial statements, and creating false business records to scam banks for loans and cheaper insurance rates. Anyone who thinks this guy got rich because of his uncanny business acumen and financial foresight is as big a fool as he is.
Last month, New York Judge Arthur Engoron ordered Trump to pay back $355 million (plus tax) of “ill-gotten gains”. According to a new CNN report, Trump and his lawyers are pleading with a judge to delay posting his $454 million bond until after his appeal case because they can’t find a single insurance company willing to underwrite such an amount. Attorneys say they have spoken to 30 institutions and none will back Trump without cash or stock options. Cash that the “billionaire” former president just doesn’t have.
“Over the course of my career, during which I have been directly or indirectly involved in the issuance of thousands of bonds, I have never heard of nor seen an appeal bond of this size for a private company or individual,” Giulietti said. “After substantial good-faith effort over the last several weeks, obtaining an appeal bond for the Judgment Amount of over $464 million is just not possible under these circumstances.”
Guess all those years of selling steaks, “education”, and real estate haven’t made 53% of white women’s POTUS very liquid. So sad. The bond is due at the end of the month in order to prevent the state from enforcing the full $454 million judgment against him. Happy money hunting!
