NY AG Letitia James drops the (civil) hammer {On Trump & Family} [9/21/2022]

Super sarcasm. Here is the text of them:

" that didn’t even include the most valuable Asset - The TRUMP Brand"
Wasn’t “The Trump Brand” his reasoning for why the property values were inflated?

Along with misstating the value of his assets, of course one of his tricks was to fail to disclose that an asset was already pledged as collateral for some other loan. And all the banks know that. Unless he has a politically-motivated sympathizer with very deep pockets, any bank that looks at this situation on a purely commercial basis is sure as hell going to do thorough due diligence on any collateral he offers.

How is that possible? How can an undisclosed security take priority?

Oh wait, I’m thinking like someone under a Torrens title system. :wink:

Where did the three years forbidden being a company leader in any business of New York come from? Why not ten years or even life?

Perhaps Engoron is just staying within norms for this sort of thing?

I don’t think that’s right. If he’s already used a property as security (eg a mortgage on Trump Tower), then that mortgagee has first call on the asset. Somebody who files a lien after a mortgage is taken out comes after the mortgagee in priorities. (Quote didn’t format–that’s NP!).

That’s a lien–that’s what I meant. You don’t get your hooks in quickly, you lose. You’re already secondary to the loan holders.

This is a poetic turn of phrase, but should I be scared of violent crime committed by Biden’s migrants? Or shocked that the violent Biden is committing the crime of admitting migrants?

WAG - Because it was a civil trial not a criminal trial?
ETA: never mind I thought you meant ten years to life in jail.

What was that thing Trump kept pointing to? ‘It says right in the contract that you can’t trust the values I stated. You should have done your due diligence!’ Hm… I wonder if those protestations will come back to bite him?

Unless my math is wrong, 9% interest on the total amounts to almost $90,000 per day, seven days a week. It appears to me that some of the awards have retroactive interest, too. Poor Donnie. I feel so bad for him.

I don’t.

Ms James gave a factual statement. Mr trump, not so much.

This gave me a genuine giggle. Not quite a LOL, more of a snigger.

Thanks.

Yes, and they are also going to look long and hard at Trump’s past history of refusing to pay his debts. Let’s say the appeal is lost, and Trump whines that it’s all unfair, so he’s not going to pay anything. Then the bond company has to come after him for the $$, and according to Trump’s playbook, he’ll delay and delay and delay.

When a bond company looks at the past history of this client and the amount at risk, I don’t think many will touch him with a 10 foot pole.

Again, this isn’t going to work like a bail bond where someone will give him $400 million dollars on a pinky swear that he’ll pay it back, with the backstop being Dog The Bounty Hunter going after him.

Unless he has a politically motivated benefactor, he will need to put up collateral worth $400mm that guarantees repayment. If he doesn’t have unencumbered assets worth $400mm, he’s got a serious problem.

But nobody can loan him $400M, due to the judgement, unless it is stayed pending appeal. Right?

Edit: it’s almost a Catch-22: you need a loan to appeal the verdict. But you can’t get a loan until the verdict is appealed… /fake-sad-face

ELECTION HUNT! WITCH INTERFERENCE!

What’s all this about Engeron being reversed?

Yeah, I noted this catch upthread. Surely the part of the judgment that bars him from conducting business will not prevent him selling or mortgaging NY assets for the purpose of satisfying the judgment.