Former United States President Donald Trump has a vast empire of prestigious golf courses that have played host to several elite golf tournaments over the years, but those golf courses also played a role in a very serious and expensive legal issue for the former president. And those legal troubles took a pretty horrible turn for Trump this week.
Last month, Donald Trump was hit with a $454 million judgment after a New York court determined he was liable for fraud after he was found to have fraudulently inflated the value of his assets – including his various golf courses and golf resorts – to obtain more favorable loan and insurance terms.
Trump and his legal team were seeking an appeal bond that would prevent him from having to pay the full $454 million while he appealed the judgment. But according to a report from Reuters, that has been denied.
“Donald Trump has so far been unable to obtain a bond that would allow him to appeal a $454 million judgment against the former U.S. president in a New York civil fraud case without posting the full amount himself, his lawyers said on Monday,” Reuters reported.
Now, if Trump does not pay the full amount, he could have his assets seized.
“Trump must either find the cash or post a bond to prevent the state’s authorities from seizing his properties while he appeals Justice Arthur Engoron’s Feb. 16 decision ordering him and co-defendants to pay $464 million in penalties and interest for misstating property values to dupe lenders and insurers,” Reuters wrote.
This is obviously horrible news for Donald Trump, and it led to a lot of reactions on social media.
Lock him up (or his assets) if he won’t face justice https://t.co/H7oIPwtRgO
— DJ Jenkins (@DJJenkins) March 18, 2024
Trump will declare bankruptcy or commit another financial crime https://t.co/rd2ApWbbOm
— (((Matt Boxer)))#СлаваУкраїні! 🇺🇸🥁🇺🇦🇮🇱 (@MattBoxer94) March 18, 2024
It is important to remember that those $450M in assets are technically not his. They are the value of his ill-gotten gains. Not even fines, just the profit he should not have made in the first place. They don’t belong to him legally. https://t.co/DHCHLnYlbg
— Dave Lack (@DaveLack) March 18, 2024
Gosh it’s almost as if spending your entire life obtaining favorable loans by lying about the value of your properties, as well as stiffing everyone to whom you owe money, has consequences. https://t.co/FKMQjpfj5y
— Chris Berez (@chrisberez) March 18, 2024
Hahahahahaha https://t.co/lYW2061pPn
— Kkearns@🐘.☁️ (@kkearns) March 18, 2024
From a legal point of view, its important to understand this is very very funny.
— Bumface מיסטר באמפייס (@misterbumface) March 18, 2024
Trump Tower's getting converted into a Spirit Halloween
— Davey (@Daveydelphia76) March 18, 2024
We’ll have to see if Trump can come up with the money.
[Reuters]
