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

Oh, please let them go first for Mar-a-Largo!

I don’t know what form of legal ownership TFG has to have in order for a given property to even appear on the first-pass Letitia James hit list.

Meaning: if three levels of LLC stand between a building and Trump Org, is it a viable target?

But the second thing, and – with Trump – it’s quite likely the first thing – is a title search on every property on the global list. The AG will have to determine what liens exist against each property and what the law says about the priority accorded to each.

Because there’s no point in going after any property that’s effectively under water (ie, would net the AG less than what is owed against it).

I would be curious to know how much time, money, and effort the AGs office has – speculatively – put into ascertaining these facts already.

I also doubt that the AG is constrained to targeting the Trump properties where the lawsuit alleged fraud. If you defraud somebody on the sale of your car, and it results in a money judgment against you, they may very well be able to go after other of your assets that may or may not have played any role in the lawsuit.

Then, @Ann_Hedonia posted something that gave us some insight into the actual involvement that Trump has (and, by implication, does not have) with a number of these properties.

Which – while it speaks to one of my points – is a whole lot of complexity that I’m thrilled to be merely a spectator for.

I bet they did that shit at least a few times by now, and also double checked it for good measure!

Hard, incontrovertible evidence that Russia put up the half-billion bond wouldn’t budge the polls an inch. 49% of American voters would call it a savvy foreign policy maneuver. Or, even if they acknowledged that it looked bad, it still wouldn’t be as bad as whatever Biden’s done.

Guaranteed.

Someone in the biz was recently speaking about the approach James was likely to take and opined she would first go for liquidity, meaning bank accounts. Then she’ll go for the real estate with the fewest obstacles to seizure. I’m not sure which those would be.

I do think there is a reason why James refers frequently to 40 Wall Street, though.

IIRC, a couple weeks ago Haba was asked if Trump had the money. Her reply (paraphrased but close) - “Of course he does. He’s a billionaire” Tis to laugh.

CNN said that the major surety companies have a policy to not do bonds in excess of $100 million. Presumably they might go that high for a trustworthy entity; Trump is a crook and a fraudster.

As for splitting the bond among multiple insurers, I would think it’s the same problem as getting multiple mortgages or multiple secured loans on your house. There has to be a priority of creditors, and if you’re not #1, it rapidly becomes unacceptably risky.

I’m pretty confident that is already underway.

Isn’t that a crime scene?

:clap: :smile: :clap:

True, but it would be hilarious if they do this and the net negative causes Trump’s total amount owed to increase.

That’s f’n funny!

I have personal knowledge of 5 bonded judgments from one insurer, each in the $200 to $400 million range. A major corporation is the defendant, with what I assume would be non-fraudulent financial statements.

Thank you for that info. It wouldn’t be the first time CNN was wrong.

What does seem clear is that when a judgment gets to this kind of really serious money, Trump is having major problems finding an insurer.

He can’t get a bond because he’s not a good credit risk. (CNN)
https://youtu.be/7ivqMyVm4oE?t=135

It’s worth noting that Dana Bash’s guest for that segment was William D. Cohan,

a bestselling author, renowned financial journalist, and former M&A banker, covering what’s really happening on Wall Street.

Though he basically stated the obvious, he is qualified to do so with gravitas :wink:

I don’t know if some shady benefactor is going to step up for Trump or not, but I’m amused that if they exist, they’ve let him twist in the wind for this entire 30-day period and damage his (undeserved, IMO) reputation as a big-money billionaire.

It seems to me that if you want to buy a president, you want one who is as undamaged as possible.

A question just occurred to me. I guess I should know the answer, but I’ve been a little confused by all the talk of Trump not being able to raise the required bond or funds by the required date and time.

What is the deadline for Trump? Is it by the end of business on Friday, meaning that James can get moving on Monday morning? It is by the end of business on Monday, giving Trump a couple of extra days? Would the sureties even be doing anything over the weekend, assuming Trump can find one to underwrite? If Trump could, or one of his billionaire friends comes through, would the court be open on the weekend to accept delivery? As you can tell, I’m seeing a lot of variables, and I don’t know which, if any, is correct.

So what, exactly, is the last-chance, drop-deadline for Trump?

I don’t know. But to add another unanswered question: Can he post a bond after the deadline and stop the collection efforts?

It’s so unclear based on the reporting but I think he has until the end of the day to get the bond and if he doesn’t they can start collecting on Monday. I would think that if he managed to come up with something over the weekend, it would suffice. But there is also the issue of an appeal (to the bond amount, not the regular appeal). I think that exists and it may be stayed until that is complete.