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You know, with every new twist to the New York AG civil fraud trial against Donald Trump, I seem to keep learning something new. And this time is no exception.
It is widely expected that sometime between now and Friday, Manhattan district court Judge Arthur Engoron will finally drop his long awaited verdict on the penalty phase of Traitor Tot’s civil fraud trial. AG James initially asked for some $250 million, but as the fraud continued to unroll, she jacked that fine and punitive damages request to $370 million. My best guess is that Engoron will settle somewhere between $300-325 million. And when that happens, watch for all hell to break loose.
I’ve seen mega amount civil lawsuit settlements my whole life. The Lee Marvin palimony case immediately comes to mind. But whether it’s Lee Marvin, or a hospital in a malpractice suit, or Traitor Tot, the first knee jerk action is to appeal. Which means a delay that could last years, pushing back paying off on the settlement.
Except, no. As I learned in the E Jean Carroll case, the courts don’t exactly trust guilty miscreants, even rich sh*tpokes. In order to appeal, the loser has to post a surety bond in the amount of the verdict. The normal course of action, just as in a criminal bond case is to post bond. The miscreant posts 20% in cash, with the bondsman covering the balance. Problem is that the bondsman is likely going to require covering collateral for a bond that high? Who the hell wants to pay Dog the Bounty Hunter $8.85 million just to drag Trump’s scruffy ass back into court.
That’s where El Pendejo Presidente is right now on the Carroll suit. Judge Kaplan has already certified the verdict into the court record, His Lowness has 30 days from that date to pony up at least $84.5 million if he wants to appeal.
Now, let’s just say that Judge Engoron drops a $325 million bomb on Trump on Friday. It will take 7-10 days for Engoron to certify the verdict, and then Trump’s timer will start. 30 days to come up with at least $65 million in cash, and the balance in collateral to file his appeal.
And that’s the most critical word in the entire article right there, collateral. Both IRS rax savant and Trump tracker David Cay Johnson, as well as Trump biographer Tim O’Brien, who saw part of Trump’s tax returns in a Trump lawsuit discovery process, feel that Trump probably could manage to scrape together the requisite $400 million to allow him to proceed with his appeals.
But it could be the kiss-of-death for his company. Trump bragged in his deposition in the Carroll case last year that he had a $450 million contingency fund of cash on hand for expenses and business opportunities. But since The Mango Messiah is the self proclaimed king of debt, Trump won’t have standard operating expenses, much less a contingency fund.
Which brings us back to that dreaded word again, collateral. The normal solution for a $325 million tab would be to fork over $65 million in cash, and post property deeds as collateral for the rest. Simple, right?
Not for Trump. He’s f*cked. One thing you may have forgotten with all of the insanity of Traitor Tot’s legal problems. It was months ago when, upon completion of NY AG Letitia James completion of her case-in-chief, that James asked for, and received a summary judgement from Judge Engoron. Basically Judge Engoron found the prosecutions case so compelling that he found Trump and his company guilty of fraud, which shut Trump off from presenting a defense, and went straight to the penalty phase of the trial. The E Jean Carroll case was the same thing.
And as a part of that summary judgement, Judge Engoron set some conditions. First, he moved to strip the Trump organization as well as Trump, Don Jr., and Eric of their business license to operate in New York state. Trump immediately filed for and got an emergency stay on that pending appeal.
But Engoron took the extra step of freezing Trump’s physical assets, namely his properties. Engoron placed his real estate assets into receivership, freezing them for possible future dissolution to pay fines and creditors. To make sure no normal cheap Trump bullsh*t ensued, he named an independent caretaker to oversee Trump’s properties.
Trump’s normal course of action would be to post 20% in cash, and then post real estate assets to cover the rest of the tab. But he can’t! In order to use any of those assets, Trump must first notify the court, in this case Judge Engoron, receive his plenary blessing, and then get approval from the independent overseer.
What goes around comes around. Trump has treated this entire trial like some kind of political multi marketing pyramid scheme to fleece the sheeple for defense fund money. He has repeatedly defied and disrespected not only the judge, but also his law clerk, twice drawing sanctions from the judge. With that voracious ego of his, trump never bothered to realize that at some point he would end up needing that judge a helluva lot more than the judge needed him.
Payback is a bitch, and she’s in heat. Forget the solicitor in charge of the receivership. Give me one reason, hell, even a really sh*tty reason why Judge Engoron should bend even his pinky finger out of shape to make life easier for the Orange Sh*tgibbon to make it easier for him to make it easier for The Cheeto Prophet to scrape the ante to get into the WSOP appeal game?
Trump is an imbecile. He’s treated the judge like sh*t, never thinking that at some point he might need just a touch of his good graces. And now he’s about to pay for it. Just remember this. These bonds will become a matter of punlic record. Trump has about 20 days to come up with the Carroll funds, and a month after Engoron enters the final judgement into the record to come up with the rest. But if Trump wants to use real estate property for his bonds, then he’s going to have to gile motions with the court. And those will become public rfecord. Just stick a pin in this.
I thank you for the privilege of your time.