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[W:778] (Bloomberg Law) Trump Bond Reduced to $175 Million as He Appeals NY Fine

Chomsky

Chomsky

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(Bloomberg Law) Trump Bond Reduced to $175 Million as He Appeals NY Fine
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A New York appeals court agreed to slash the amount of the bond Donald Trump must post to cover a $454 million civil fraud verdict while he appeals it, reducing it to just $175 million after the real estate mogul claimed he’d have to sell properties at a loss to raise cash.
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The ruling Monday comes as Trump faces a deadline on the same day to either pay the fine or post a bond for 120% of the judgment to put it on hold while he appeals. That would have amounted to nearly $545 million dollars. He has 10 days to post the bond, the court ruled.
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A NY Appeals Court has ruled Trump's NY State $545M bond has been reduced to $175M, and the due date has been extended 10 days.

I must admit, I am surprised at the ruling.
 
Chomsky said:
(Bloomberg Law) Trump Bond Reduced to $175 Million as He Appeals NY Fine
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A NY Appeals Court has ruled Trump's NY State $545M bond has been reduced to $175M, and the due date has been extended 10 days.

I must admit, I am surprised at the ruling.
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Why? You don't believe in excessive penalty? You don't believe in the 8th amendment. You think the charge is really a felony, without any victim, without any experts saying the real estate values were inflated? Oh yeah Engeron knows real estate! LOL!
 
It will be interesting to see what the rationale is for the decision, but it isn't overly surprising. I surmised a few days back that the amount would be reduced, but wasn't expecting quite this large of a reduction. I don't think the decision is awful, although why Trumps gets an additional 10 days to raise much less money when he tells us he has $500m cash available needs some explaining.
 
Integrityrespec said:
Why? You don't believe in excessive penalty? You don't believe in the 8th amendment. You think the charge is really a felony, without any victim, without any experts saying the real estate values were inflated? Oh yeah Engeron knows real estate! LOL!
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There have been larger civil fines. The 8th amendment doesn't apply.
 
EnchantedMuggle said:
Well, maybe this will keep Pubs from going crazy over the issue. Maybe they will see this as more fair.

And he must at least have this much money.
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Wait - he said he had it all. Which is it?
 
Chomsky said:
(Bloomberg Law) Trump Bond Reduced to $175 Million as He Appeals NY Fine
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A NY Appeals Court has ruled Trump's NY State $545M bond has been reduced to $175M, and the due date has been extended 10 days.
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Chomsky said:
I must admit, I am surprised at the ruling.
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Why? The King of Fraud, who stole billions from his clients, Bernie Madoff only had to pay a 100 million dollar bail agreement.

After doing research, I found it was even less than that. My apology. ETA: And a bail agreement is different than an appeal bond, but it does show the disparity of laying it on much heavier for Trump than others.

"Bernard L. Madoff, the New York financier who authorities say has confessed to a $50 billion Ponzi scheme, will not be going to jail even though he failed to meet the original terms of his $10 million bail agreement."

www.nytimes.com

Authorities Ease Madoff’s Bail Terms (Published 2008)

Bernard Madoff will not be going to jail even though he failed to meet the original terms of his $10 million bail agreement.
www.nytimes.com www.nytimes.com
 
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trixare4kids said:
Why? The King of Fraud, who stole billions from his clients, Bernie Madoff only had to pay a 100 million dollar bond.
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Yup, the rich and connected get a different judicial system from the rest of us. Trump is a top-tier judicial member, he'll always be treated better than the rest of us.
 
Ishm said:
It will be interesting to see what the rationale is for the decision, but it isn't overly surprising. I surmised a few days back that the amount would be reduced, but wasn't expecting quite this large of a reduction. I don't think the decision is awful, although why Trumps gets an additional 10 days to raise much less money when he tells us he has $500m cash available needs some explaining.
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There is no rationale. Literally. I've not read it, but those who have say they don't explain it.
 
Image
 
Integrityrespec said:
Why? You don't believe in excessive penalty? You don't believe in the 8th amendment. You think the charge is really a felony, without any victim, without any experts saying the real estate values were inflated? Oh yeah Engeron knows real estate! LOL!
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I stole $200 from the bank, but returned it 2 weeks later.
No victim!
 
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