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Paul Blumenthal at HuffPost:
Former President Donald Trump has 10 days to post $175 million in bond after a New York judge agreed to reduce the bond payment in his civil fraud appeal on Monday.
Before the judge’s ruling, Trump was due to post $464 million in bond by the end of the day on Monday, or else New York Attorney General Letitia James would be able to begin seizing properties from him in order to fulfill the penalty imposed on him for engaging in fraudulent business practices.
Trump was found guilty of engaging in fraud on Feb. 16 for manipulating business records in order to obtain favorable loan terms from banks and insurers. Judge Arthur Engoron ordered Trump to pay $464 million in fines and barred him from serving as an officer or director of a corporation or applying for a loan in New York state for three years. Trump’s sons, Donald Jr. and Eric, were also barred from board and officer positions for two years.
[...]
The decision to reduce Trump’s bond payment came after he pleaded with the court to either waive or reduce the amount owed to $100 million or less. In a court filing on March 18, Trump complained that the original $464 million bond payment was unprecedented — which is not true — and that he did not have the cash to put up as collateral, leading 30 bond companies to reject his requests for a bond loan.
The judge’s decision gave Trump a lifeline at the last minute before his bond was due. The $175 million, however, is still higher than the reduced bond of $100 million he originally requested. In his statement, Trump claimed that he would post the reduced bond.
[...]
If Trump still can’t post bond, James could move quickly to seize his properties. She registered the judgment against Trump issued by a Manhattan court with the clerk’s office in Westchester County, just north of New York City, where Trump holds two pricey properties. The judgment is already registered in Manhattan, where major Trump properties like Trump Tower and the skyscraper at 40 Wall Street could be seized.
Donald Trump got his bond reduced to $175M and given an 10-day extension to come up with the money in his appeal, as Judge Arthur Engoron gave approval for the changes.
#Donald Trump#Arthur Engoron#Trump Tower#Letitia James#Trump Organization#TRUTH Social#Digital World Acquisition Corporation#Jeff Yass#DWAC#New York v. Trump#New York#New York City
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Letitia James: The Attorney General of New York who Oversaw the Legal Action Against Trump Organization
Letitia James: A beacon of justice facing powerful targets
Letitia James, the current Attorney General of New York, has become a prominent figure in US legal oversight, facing high-profile cases against powerful individuals and organizations. His pursuit of restorative justice, even in the face of personal attacks and political pressure, has earned him both support and criticism.
James’ major…
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MAFIA, KGB, PUTIN AND TRUMP
photo story: INVISIBLE MEN
In 2001, the Trump Organization, the company led by U.S. presidential candidate Donald Trump, licensed its name to the Trump Tower Toronto.
The Russian secret service has a long history of funding terrorist and separatist groups and movements around the world through business companies and installing puppet regimes in other countries.
The Trump Tower Toronto is funded by the Russian-Canadian billonaire Alex Shnaider of Talon International Development Inc., who used $500 million of Midland Resources Holding Inc, an offshore company trading Ukrainian steel and operating office buildings and a casino in downtown Moscow.
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Video from the ground breaking event.
Alex Shnaider, chairman of Talon International, co-owns Midland Resources Holding Inc. with his business partner of twenty years Eduard Shifrin, a Ukrainian billionaire.
SHNAIDER, SHIFRIN, PUTIN
On October 26th, 2016, Eduard Shifrin, a Ukrainian citizen based in London, received Russian citizenship by the personal decree of Vladimir Putin.
In 2005, Shnaider spent $50 million to buy the Jordan Formula One. He renamed it to Midland F1 Racing and registered it as the first Russian Formula One team. The team was presented at a launch in Moscow’s Red Square. The Russian President Vladimir Putin on the guest list. “Putin will be there,” Shnaider told Forbes.
About a thousand people were flown to the party on Red Square, organized by the Kremlin state unitary enterprise, the head of the Kremlin supervisory service, Ministry of the Interior and similar state agencies. Shnaider’s co-owners were Alexander Radunsky and Boris Yeltsin, the grandson of the Russian president Boris Yeltsin. The Moscow Patriarch Alexey II (an alleged KGB agent and close connection of Putin) blessed the presentation so it became the second event on Red Square to be blessed by the Patriarch.
Russian newspaper Izvestia, owned by a vast holding company with close ties to the government, published an article covering the event, “Shnaider Promises to Sing the Russian Anthem.”
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Putin driving F1.
HISTORY OF MAFIA CONNECTIONS AND KGB TIES
Shnaider’s father-in-law, Boris Birshtein, and life-long business partner is allegedly a (double) agent of the KGB and Mossad.”
A Canadian, Swiss and Israeli citizen born in the USSR, Birshtein is a founder of Seabeco Group, a company known for theft and money laundering in Russia, Kirghistan, Moldova and Ukraine, its close connections with organized crime, assassinations, and political manipulations. Birshtein was accused of fraud and money-laundering in Russia, Canada, Belgium and Switzerland. FBI has linked Birshtein to organized crime.
Seabeco is known to be founded by the KGB as an international trading company in 1983 to smuggle the Communist Party’s hidden gold out of the USSR.
Seabeco used the old KGB script to transfer party property abroad: non-existing investors and shady offshore companies partnered with the Russian ventures. Seabeco network created by the order of the KGB chief Vladimir Kruchkov allowed to finance secret service projects and launder money.
Kruchkov, KGB chief: “Seabeco was created in order to apply the KGB money.” Documentary in Russian.
In 1993 a big scandal around Seabeco shook Russia. Allegations included billions of laundered dollars, seven million tons of unaccounted oil export, corruption of major Russian politicians and secret Swiss accounts, as well as organized crime.
ORGANIZED CRIME
Seabeco’s co-owner and Birshtein’s partner Sergey Mikhailov is an alleged head of the Russian gang Solntsevo, the biggest and most powerful crime syndicate of the Russian mafia.
Birshtein and Mikhailov jointly controlled at least one company, MAB International, registered in Belgium, according to Swiss police. Birshtein was investigated by Antwerp police for suspected money-laundering. Mikhailov was arrested in Geneva in October 1996, charged and tried for alleged money-laundering and for being a member of an organised crime organisation but was acquitted in December 1998 for lack of evidence. He is said to be a personal friend of Putin’s and on his website claims to be awarded by the Russian president in person.
In 1996 the FBI reported that Birshtein hosted “a summit meeting of Russian organised crime figures” at his office in Tel Aviv from October 10–19, 1995.
In 2008, Birshtein collaborated with the FBI on Robert Levinson’s case, negotiating the conditions of the Russian billionaire and Putin’s close ally Oleg Deripaska’s entry into the US despite of the organized crime status. Levinson, a CIA spy who disappeared in Iran in 2007, was an expert on the Russian organized crime and had previous contacts with Birshtein.
PUPPET REGIMES AND POLITICAL MANIPULATION IN FOUR COUNTRIES
RUSSIA: KREMLIN, KGB AND OLIGARCHS
In 1993 Boris Yeltsin met Birshtein who was introduced to him as a KGB agent. He wrote about it in his book of memoirs.
Nikolay Kruchina, the Communist Party executive responsible for its assets, supervised Seabeco’s acitivity, according to the Russian media.
On August 28, 1991, Kruchina died as a result of falling out of the window of his apartment in Moscow. During the next three months 1,746 alleged suicides of party officials owning secret foreign bank accounts took place in the former USSR.
By 1992 Victor Barannikov, Director of the Federal Security Agency of the Russian Federation, supervised Seabeco.
In 1993 Barannikov became a part of the so-called Seabeko scandal. It was alleged that Birshtein wanted Barannikov to convince a member of Yeltsin’s cabinet to promote one of his firms; that Birshtein had financed Mrs Barannikov’s trip; and that she had accepted Birshtein’s gifts. Barannikov was fired.
In May 1994, the Committee on fighting the organized crime and corruption called Seabeco “an octopus entangling the Russian economy.”
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Hunter at Daily Kos:
In a court filing on Monday, Donald Trump's lawyers sprung the news we've all suspected: Trump doesn't have the money to pay the $454 million civil fraud judgment levied against him lying to banks and insurers about his supposed wealth for decades. Trump has appealed that ruling, or is trying to, but there's a catch: In order to appeal the verdict, he has to post a bond fully covering the judgment against him—and the coup-attempting "billionaire" doesn't have it.
Here’s CNBC:
[″Defendants’ ongoing diligent efforts have proven that a bond in the judgment’s full amount is ‘a practical impossibility,’” the lawyers wrote, quoting an affidavit in the filing with the Appellate Division of Manhattan Supreme Court.]
Just Security's Adam Klasfeld gives more details from Trump's filing, including the assertion that "countless hours negotiating with one of the largest insurance companies in the world" have proven that coming up with an appeal bond for the full amount "is not possible under the circumstances presented."
Most surety companies don't want to—or legally can’t—issue a bond approaching half a billion dollars, and the ones that might be willing to do so won’t accept assets like real estate as collateral, according to his lawyers. So Trump seems to be out of luck. He's again pressing the courts to allow the appeal to move forward without posting bond, or by posting a smaller amount. So far, he's had no luck.
[...]
What's clear, though, is that no one appears willing to risk losing a half billion dollars for the sake of propping up Donald Trump. It's not just that Trump's countless lies about his supposed assets make it risky to do business with him; Trump's currently running for president again, and this time around he and his subordinates are making it clear that they intend a far more radical, fascist, and authoritarian-minded Trump administration this time around.
If Trump does retake the presidency, what are the odds that both his administration and a compliant Republican Congress will simply void all his debts and tell his creditors to pound sand? Not small. And certainly not small enough that anyone is willing to take the risk.
Womp. Womp. Donald Trump can't post the entire $454M worth of bond money in the civil fraud case to appeal the verdict in New York v. Trump.
See Also:
HuffPost: Donald Trump Can’t Pay $464 Million Bond In NY Fraud Case
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The Downfall of the Trump Family
November 1, 2023
“I don’t recall”: Donald Trump’s eldest son testifies in New York civil trial, claiming repeatedly: “I don’t recall”, distancing himself from documents at center of fraud trial.
Donald Trump Jr took the stand in the ongoing fraud trial against his father and the family business on Wednesday and tried to distance himself from the financial statements at the center of the…
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Michael Cohen Divulges His Harsh Thought When He Looked Trump In The Eye At Trial
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