A New York appeals court on Monday reduced the $454 million that former President Donald Trump was required to put up while he appeals his civil fraud case. Now Trump must put up, by April 4, a mere $175 million. The trouble is, he may not get a bond for that amount, either. Should that happen, this act of judicial mercy will end up feeling to Trump like a curse.
The stay deprives Trump of the only argument on which he was gaining any traction at all—that the amount the court required him to put up was excessively high. Four hundred and fifty-four million was indeed an unusually large judgment against a private corporation or individual. (The distinction between Trump and the Trump Organization is paper-thin.) Monday’s appeals court decision doesn’t reduce that judgment, as New York State Attorney General Letitia James pointed out in a written statement. But it does dramatically reduce the amount Trump needs to turn over to the state while he pursues his appeal. It also gives us some hint that the appeals court may reduce Judge Arthur Engoron’s $454 million judgment to, well, $175 million.
His net worth just hit $6B due to the pump & dump scheme that is Truth Social.
None of that is liquid though. He’s locked into the holdings for six months while the stock freefalls from the IPO. If the majority stockholder is going to be selling shares during the initial offering you bet your panties that has to be disclosed.
But can’t he just get a loan for the stock and skip the 6 months AND skip paying taxes too?
No, the same agreement that prevents selling shares also prevents using them as collateral.
He’s gonna talk his way down to where he ends up paying Jack shit and gets away with this shit once again
This is a bond for the appeal. The court could decide to make it $0.00 but he still owes the full amount if he loses the appeal.
And even if he paid the full 454mil to appeal, he still gets it back if he wins.
Well that he gets it back if he wins is part of the grounds for the appeal.
If you force someone to liquidate and then he is found not guilty, the harm this has caused can/will outweigh the potential punishment many times over.
So see that separate from the case and the person, that cannot be right.
Don’t get me wrong, I feel no sympathy at all for defendant trump, but in general the punishment should be the punishment.
In general, the trial judge is presumed to have determined the right punishment.
There are plenty of people in jail who are appealing their punishment. If they win, they will still never get back the time they already served. That harm has been done.
You seem to be suggesting that every defendant is entitled to exhaust all their appeals before any “harm” is done, but such a system is unworkable.
You seem to be suggesting that every defendant is entitled to exhaust all their appeals before any “harm” is done, but such a system is unworkable.
I can see why executability matters, but this does indicate we’ve violated an architectural requirement laid out in the Constitution, Amendment 6:
In all criminal prosecutions, the accused shall enjoy the right to a speedy and public trial, by an impartial jury of the State and district wherein the crime shall have been committed, which district shall have been previously ascertained by law, and to be informed of the nature and cause of the accusation; to be confronted with the witnesses against him; to have compulsory process for obtaining witnesses in his favor, and to have the Assistance of Counsel for his defence.
This is failing right now if we can’t give the person their trial quickly.
We’re also incarcerating too many people.
Not saying I know the solution, but we need to change something to make our system more efficient. Either more courts, or fewer arrests, or both. Or refactoring some penal code to work more efficiently.
My vote would be in favor of just legalizing drugs.
I suppose I’m not understanding the argument that a relatively slow appeals process violates someone’s right to a speedy trial. By definition, if you’re appealing, you’ve already had a trial and lost.
I do think we are incarcerating too many people, but serving time while waiting on an appeal doesn’t inherently violate someone’s right to a speedy trial.
Yeah if you use that set of definitions. However they didn’t mention appeals in the constitution, and if a person’s guilt can be changed by an appeal, then it isn’t established and you’re punishing people who could be innocent.
A person’s guilt is established at the original trial.
An appeal is an attempt to prove that the original trial committed an error. Until an error is proven, the person is treated as every other guilty person.
I’m just completely flummoxed as to how judges keep playing right into Trump’s hand on shit like this and then expect the rest of the general public to treat them - and by extension, the entire court system - seriously.
Like, he’s got an obvious, provable, and systematic tendency to straight up not pay for shit, and it’s documented as a matter of public and legal record. It’s not a mystery. It’s not ambiguous. It’s not justifiable beyond “he doesn’t like giving money to people that are not himself”. It’s an unavoidably clear pattern and practice.
something something leopards eating faces
I’m glad he’s probably gonna get fucked on the appeal bond, but jesus tapdancing christ the amount of categorically unjustifiable lifelines he has repeatedly gotten handed to him by the courts is simply indefensible.
Please explain the 🐆 part
“Let’s do whatever we can, to stop this man from becoming President.” Sincerely, Democrats.
Are we accusing the Democrats of forcing him to commit fraud or…?
Um, duh? I don’t like Biden either but nothing the Republicans are offering (or have offered in 50 years) is good for real people. I wouldn’t want Trump as a neighbor, coworker, or wasting oxygen on any planet humans live on, let alone wanting it in charge of anything.
