It’s D-Day for Donald Trump in New York. Unless he pays nearly half a billion dollars by today, he could lose portions of his coveted Trump empire.
Top News Today :
The time has finally come for Donald Trump to pay the $454 million civil business fraud judgment against him to the State of New York after decades of corruption and over-inflating his assets. His only problem is that he doesn’t appear to have enough cash to cover what he owes, which means his beloved Trump Tower on Manhattan’s Fifth Avenue, his Mar-a-Lago estate in Florida, and/or other prized properties could soon be seized and claimed by the Empire State.
In case anyone is unclear, New York Attorney General Letitia James means business. She is of the school of thought that no person is above the law — not even Donald Trump. She is determined to prevent Trump from engaging in his usual stall tactics to derail collection of the judgment. She even spent the weekend preparing the necessary paperwork (in advance) to take possession of portions of the Trump Empire and satisfy the debt as early as Monday morning.
So, what are Donald Trump and his Klan doing to save their assets from seizure by the no-nonsense Black female attorney general with the necessary smarts and law on her side?
On Friday, Trump took his Truth Social network public in the hopes of borrowing against or selling shares (as soon as the markets open on Monday morning) to pay his debt. However, that strategy won’t be easy.
According to The New York Times, major shareholders of Trump Media are barred from selling their shares for 6 months. Trump would have to obtain special permission to waive any restrictions on selling shares before its planned merger with Trump Media goes to a vote — and all before Ms. James steps in and takes over parts of the Trump Empire.
Also on Friday, Donald Trump reiterated the need for an appeals court to step in and either delay or decrease the $454 million judgment against him because he doesn’t have it. Then, soon thereafter, the braggadocious Trump just couldn’t help himself and foolishly took to social media to boast that he is so rich he has $500 million in cash readily available.
“Through hard work, talent, and luck, I currently have almost five hundred million dollars in cash, a substantial amount of which I intended to use in my campaign for president,” Trump wrote in all caps on Truth Social. “The often overturned political hack judge on the rigged and corrupt A.G. case, where I have done nothing wrong, knew this, wanted to take it away from me, and that’s where and why he came up with the shocking number which, coupled with his crazy interest demand, is approximately $454,000,000.”
His words became instant evidence for the appeals court to deny his request. After all, why would they need to delay or decrease a $454 million judgment if he is legitimately sitting on $500 million in cash?
On Sunday, Donald Trump took another page from his playbook. He played the victim card by sending his son, Eric Trump, on Fox to berate Attorney General James and the entire legal process.
“They’re trying to deprive him of his cash, they want to bankrupt him, they want to hurt him so badly,” Eric Trump told Fox News. “And it’s going to backfire, because he’s going to win this in November, and everybody in this country universally knows exactly what these people are doing.
“Every single person when I came to them saying ‘Hey, can I get a half-billion dollar bond?’ … They were laughing. They were laughing,” Eric said. “No one’s ever seen a bond this size.”
Meanwhile, it appears luck may not be on the side of ‘The Teflon Don’ this time around in his attempts to save his Trump Empire from seizure. In fact, CNN is reporting that although Trump has raised some cash, he just doesn’t have enough to make this all go away.
“The $464 million decision levied in the verdict, and the bond Trump is scrambling to secure to forestall potential seizure of his properties, would require cash or cash equivalent of roughly $557 million based on industry practice. And at least some of the money Trump does have is tied up in loan agreements that include terms requiring him to have tens of millions of dollars in cash on hand,” CNN’s Phil Mattingly said.
So, it appears that unless a miracle falls into the lap of Donald Trump by Monday morning, the entire Trump Empire is up for grabs — and Letitia James is ready to do her duty.
Stay tuned…
OK WASSUP! discusses the Top News Today:
Parts of the Trump Empire could be taken by NY today.
CNN: Legal analyst Nick Akerman told CNN that former President Donald Trump’s all-caps rant claiming to have “ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH” is the “dumbest thing he could possibly have done!” There has been a lot of wild speculation about how Trump will pay the bond to appeal payment of the fraud judgment that could cost him in excess of $460 million if appeals are unsuccessful. The deadline for that bond, if the appeals court doesn’t intervene, is Monday. But in an early-morning Truth Social post Trump ranted that “THROUGH HARD WORK, TALENT, AND LUCK, I CURRENTLY HAVE ALMOST FIVE HUNDRED MILLION DOLLARS IN CASH, A SUBSTANTIAL AMOUNT OF WHICH I INTENDED TO USE IN MY CAMPAIGN FOR PRESIDENT.” On Friday’s edition of CNN News Central, anchor John Berman roasted Trump as “not the best arbiter” of how much money he actually has, but it was Akerman who… Read more »