trump's bond insurer doesn't seem to have the money.

[shockedcanadian]

Umm,not quite right there SC.
Maybe it's a south-of-the-border phenomena you are unused to, but.....
....there have been any number of bigger bonds than Trump's.

For example, to name three: a $1 billion bond for Samsung in 2014, a $1 billion bond for Cox Communications in 2021, and a $1.3 billion bond for SAP, a German software company, in 2011.

These are on corporations, not an individual.

Seeing this actually strengthened just how biased it is.

 

[Crepitus]

Did you see him under there?

No, your big flabby butt was in the way.

 

[Crepitus]

Same question how exactly did he commit fraud?

That's a public record and not my job to educate you.

 

[Chillicothe]

Seeing this actually strengthened just how biased it is.

----------------------------------------------------
Well, not quite.
A fraud had been committed.
The court determined it was committed.
And a court found guilt in a party committing that fraud.
So, what we have here poster SC is just a 2-parter: Fraud. Perpetrator.

So, if the perpetrator of the fraud is an individual or a corporation, no matter.

What does matter?
That justice is served.

Duh!!

You are over-thinking it, SC.

 

[Lesh]

If Trump wants appeal the 450 million judgement he has to come up with this 175 and it looks like he may not be able to do that.

Let the foreclosures begin

 

[Moonglow]

All I see you seizing is empty air.

 

[lennypartiv]

Fraud

Trump never committed fraud.

 

[rightwinger]

Trump never committed fraud.

MAGA thinks Trump never did anything

That 5th Ave stuff

 

[j-mac]

Who complained of fraud and what harm was committed in this fraud? To what victim?

Great question, and poof, the snarking little dogs vanish....

 

[j-mac]

MAGA thinks Trump never did anything

That 5th Ave stuff

Maybe you can answer shockedcanadian's earlier question then?

 

[j-mac]

That is long past

It has already been decided in court

Trump is guilty of fraud and liable for substantial damages
All he can appeal is the amount

Um, no....The entire thing can be thrown out....Much like what happens to you when you go out in public....

 

[Tommy Tainant]

Trump’s Bond Insurer Doesn’t Seem To Have The $175M It’s Guaranteeing​

"In a midday court filing, the Knight Speciality Insurance Company revealed that it currently only has $138 million in “surplus.” That means the bond it has decided to post for Trump smashes through the 10 percent barrier, topping a whopping 127 percent of the company’s dedicated reserves."
Pretty much explains why the guy was willing to do it, he can't risk what he doesn't have.
Crooks and liars trying to post bond for a crook and a liar.

trump claims he has half a billion dollars in cash, why does he need someone else to post his bond anyway?

Isnt that illegal ?

 

[Tommy Tainant]

The victims are there. With fraud like this you're gaining an unfair advantage in the business world. Trump might be able to make a deal, when otherwise he wouldn't have made a deal, which means someone else lost out on that deal.

I also understand that Trump put a very different value on his properties when making his tax returns. Makinng everyone a victim.

 

[Smokin' OP]

And how exactly did he commit fraud?

Trump defrauded banks, insurers and taxpayers.

Banks- Trump overvalued his properties to get lower interest loans.

New York Penal Law § 175.05 (2022) - Falsifying Business ...​

Justia Law
https://law.justia.com › pen › part-3 › title-k › article-175
Article 175 - Offenses Involving False Written Statements 175.05 - Falsifying Business Records in the Second Degree. Universal Citation: NY Penal L § 175.05 ( ...



Insurers- Trump undervalued his properties to get better insurance rates.

Appraisal Fraud: What it is, How it Works​

Investopedia
https://www.investopedia.com › ... › Financial Fraud
Appraisal fraud can occur when an appraiser is in on the scam, and dishonestly overstates the value of the property. It can also occur when the homeowner ...


Taxpayers- Trump committed tax fraud...........For decades.

26 U.S. Code § 7206 - Fraud and false statements​

LII / Legal Information Institute
https://www.law.cornell.edu › ... › Subchapter A › PART I
Receives, withholds, destroys, mutilates, or falsifies any book, document, or record, or makes any false statement, relating to the estate or financial ...

 

[shockedcanadian]

Trump defrauded banks, insurers and taxpayers.

Banks- Trump overvalued his properties to get lower interest loans.

New York Penal Law § 175.05 (2022) - Falsifying Business ...​

View attachment 928062
Justia Law
https://law.justia.com › pen › part-3 › title-k › article-175
Article 175 - Offenses Involving False Written Statements 175.05 - Falsifying Business Records in the Second Degree. Universal Citation: NY Penal L § 175.05 ( ...



Insurers- Trump undervalued his properties to get better insurance rates.

Appraisal Fraud: What it is, How it Works​

View attachment 928065
Investopedia
https://www.investopedia.com › ... › Financial Fraud
Appraisal fraud can occur when an appraiser is in on the scam, and dishonestly overstates the value of the property. It can also occur when the homeowner ...


Taxpayers- Trump committed tax fraud...........For decades.

26 U.S. Code § 7206 - Fraud and false statements​

View attachment 928070
LII / Legal Information Institute
https://www.law.cornell.edu › ... › Subchapter A › PART I
Receives, withholds, destroys, mutilates, or falsifies any book, document, or record, or makes any false statement, relating to the estate or financial ...

If I tell you I have a piece of jewelry that is worth $40000 and I expect you to pay me that much money for this piece of jewelry, would you just give me that $40000 or would you hire an appraiser to determine the price?

 

[Smokin' OP]

If I tell you I have a piece of jewelry that is worth $40000 and I expect you to pay me that much money for this piece of jewelry, would you just give me that $40000 or would you hire an appraiser to determine the price?

WTF?
THAT'S the problem, they took Trump's word for it, and they were NOT selling it, which would be totally LEGAL.
Trump was getting LOANS, from banks based on his appraisal, totally ILLEGAL.

 

[shockedcanadian]

WTF?
THAT'S the problem, they took Trump's word for it, and they were NOT selling it, which would be totally LEGAL.
Trump was getting LOANS, from banks based on his appraisal, totally ILLEGAL.

His appraisal is his appraisal.

If you decide to pay me $40000 for this piece of jewelry on my word alone, who is most naive and or trusting? Why you of course.

Now, if I took out a loan on this piece of jewelry based on the collateral of $40000, again, based on your decision to take my word for it. You would be quite happy that I repaid that loan in full. We are both happy, no?

 

[surada]

They force him not to do business in NY State, then when he goes out of State they think they can apply NY rules to other companies. Guess what? Federal law covers things between States, not NY State law.

Trump failed to include the name of his attorney of record or his financials.

 

[RetiredGySgt]

WTF?
THAT'S the problem, they took Trump's word for it, and they were NOT selling it, which would be totally LEGAL.
Trump was getting LOANS, from banks based on his appraisal, totally ILLEGAL.

No they did not as testified to in the trial they used their own appraisers.

 

[RetiredGySgt]

Trump failed to include the name of his attorney of record or his financials.

wrong too it isn't his financials they get but the surety company.