TRUMP CONVICTED
- Thread starter jimihendrix1
- Start date
garybo
Well-Known Member
I have a problem taking orders from those who have no impact in my life or my style or sign my paycheck.
cannabineer
Ursus marijanus
It’s still in the air. Emphasis mine.
Donald Trump rode his success on social media into the White House. Now he’s set to make billions with it.
The approval on Friday by shareholders of a merger of Trump’s social media platform, Truth Social, with a blank check company, is set to more than double Trump’s net worth, at least on paper.
But while the estimated $3.2 billion windfall Trump may receive from the deal could eventually fatten his wallet, it may not come in time to help Trump out of his immediate financial crisis.
On Monday, Trump will need to come up with a $464 million bond to appeal his corporate fraud conviction for misstating the value of his assets for years in order to receive better lending and insurance rates.
If he is unable to come up with the money, New York Attorney General Letitia James, who brought the case, will be able to begin the process of seizing Trump’s assets to cover the huge penalty the judge hit the former president with at trial, something she has signaled she will move quickly to do.
The effort could tie up much of his existing fortune of $2.6 billion, as estimated by Forbes, and trigger even more legal distractions for Trump who also faces four criminal trials. His legal woes have weighed on his campaign to return to the presidency in November, as he has been forced to use significant amounts of campaign funding to defend himself in court.
Earlier this week, the 77-year-old Trump asked the appellate court to waive the bond requirement saying it had proven a “practical impossibility” for him to secure the money. Last month, Trump was able to secure a $91 billion bond to appeal a defamation verdict in a case brought by writer E. Jean Carroll who had accused the former president of raping her in the 1990s. Trump denied the assault saying Carroll “isn’t my type.”
As of next week, the Trump Media & Technology Group — which operates Trump’s social-media platform, Truth Social — will take over the stock ticker of the Digital World Acquisition Corp. DWAC, -7.95%, a special purpose acquisition company, or SPAC. The new company will trade under the ticker of DJT.
Trump is set to assume control of about 60% of the combined company, which is worth upwards of $3 billion at the current stock price.
The problem for Trump is that he will be unable to touch any of the money from the sale for six months, according to the terms of the deal revealed in regulatory filings. The terms of the arrangement, known as a lock-up, also bar Trump from borrowing against the shares, using them for collateral or pledging them in any way for the same period.
The only way for Trump to tap into the cash is for him to receive a waiver from the new company’s board, allowing him to begin dealing the shares before the six months passes.
As the board is stacked with Trump’s allies, including one of his sons and several former members of his administration, that outcome is a distinct possibility.
But Trump would still face the issue of selling large blocks of shares quickly or finding a bank or insurer that would be willing to accept a volatile stock as collateral for a loan or for backing an appeal bond.
The price of the Digital World stock has been closely tied to Trump’s political fortunes and less so to the actual performance of the company, which loses money and has a small audience. It has shot up nearly 40% since the beginning of the year, with much of those gains coming after Trump won the New Hampshire primary, putting him on a clear path to securing the Republican nomination for president in this year’s election.
In recent days, the stock has fluctuated as much as 20% as the merger approval drew near. Truth Social loses money and barely eked out $3.4 million in revenue in the first nine months of 2023.
The money from the merger could also become a target of James’ effort to seize Trump’s assets.
Nugnewbie
Well-Known Member
Judge orders Trump company to tell financial watchdog about efforts to get appeal bonds
Donald Trump is trying to avoid paying a $454 million business fraud judgment stemming from a lawsuit by New York Attorney General Letitia James.
Herb & Suds
Well-Known Member
That is nicer than I hope for him
BudmanTX
Well-Known Member
well well well.....so that's why he flopped of Tik tock.......and guess who own a portion or truth social too......
guy named Jeff Yass, a major donor......
naw this doesn't smell of corruption does it.....
guy named Jeff Yass, a major donor......
naw this doesn't smell of corruption does it.....
Fogdog
Well-Known Member
lol
tiktok investor
What was it Trump used to say?
ChiiiiiiiNAH owns Tiktok. ChiiiiiiiNAH! Ticktok gotta go!
He's been pretty nice about tiktok lately. Come to think of it, he isn't bashing China either. Not enough to make the headlines.
Nothing to see here folks, move along.
cannabineer
Ursus marijanus
lol
tiktok investor
What was it Trump used to say?
ChiiiiiiiNAH owns Tiktok. ChiiiiiiiNAH! Ticktok gotta go!
He's been pretty nice about tiktok lately. Come to think of it, he isn't bashing China either. Not enough to make the headlines.
Nothing to see here folks, move along.
Fogdog
Well-Known Member
Yeah, the board is stacked in Trump's favor and Trump is the majority share owner by a whopping large number. The six month waiting period will be waived, I'd bet a donut on that. When he puts his stock on the market is when the this scheme will be put to the test. I'm dubious but he might pull it off with enough capital to save his company, assuming it still exists.
He's going to be red hot angry by November regardless of how this turns out.
"When you take a shot at the devil, make sure you don't miss."
Budley Doright
Well-Known Member
And that has anything to do with the present subject? Ok then Gary lol.
Fogdog
Well-Known Member
What does that have to do with Republicans obstructing the passage of a bipartisan bill that gave Republicans everything they wanted for border security?
Budley Doright
Well-Known Member
Blah blah….blah blah blah
printer
Well-Known Member
"I only lose other people's money, the $3.5 M is Mine, Mine, Mine MINE."
Trump signals Truth Social windfall won’t be used to post bond in fraud case
Former President Trump on Friday signaled he would not use a potential windfall from the merger involving Truth Social to post bond in a New York fraud judgment ahead of a Monday deadline.
Shareholders of Digital World Acquisition Corp. (DWAC) approved a merger Friday with Truth Social, a media startup owned by Trump, teeing up its stock market debut and a potential $3.5 billion windfall for the former president.
But Trump told Fox News Digital he would not necessarily use the infusion of cash to cover his bond owed in New York.
“That doesn’t mean I’m going to give money to a rogue and incompetent judge — the puppet of a corrupt attorney general who’s failing with violent crime and migrant crime and whose only purpose in life is attempting to get Trump,” Trump told the outlet, referring to Judge Arthur Engoron and New York Attorney General Letitia James.
Trump vowed to fight the case “all the way up to the U.S. Supreme Court if necessary.”
“They can’t take away your property before you’ve had a chance to appeal the decision of a Trump-hating, incompetent judge who has been overturned more than any judge in the state,” he said.
Trump has until Monday to secure a half billion-dollar bond or risk the seizure of his assets as he challenges a trial court’s finding that he conspired to alter his net worth for tax and insurance benefits.
Engoron found Trump liable for fraud last year ahead of a months-long trial that ended with the judge imposing a massive $464 million penalty on the Trump Organization.
Trump’s lawyers admitted Monday that despite the former president’s “diligent efforts,” it is “impossible” for him to secure a full appeals bond in that amount due to lack of cash on hand.
The former president, however, claimed in a Friday social media post that he had $500 million in cash but did not want to use it for the bond payment.
Former White House ethics head Norm Eisen called Trump’s post “dumb” in a Friday post on X, formerly Twitter, writing “now he can’t claim hardship to get a stay” and “James can help herself, including to this supposed money!”
thehill.com
Trump signals Truth Social windfall won’t be used to post bond in fraud case
Former President Trump on Friday signaled he would not use a potential windfall from the merger involving Truth Social to post bond in a New York fraud judgment ahead of a Monday deadline.
Shareholders of Digital World Acquisition Corp. (DWAC) approved a merger Friday with Truth Social, a media startup owned by Trump, teeing up its stock market debut and a potential $3.5 billion windfall for the former president.
But Trump told Fox News Digital he would not necessarily use the infusion of cash to cover his bond owed in New York.
“That doesn’t mean I’m going to give money to a rogue and incompetent judge — the puppet of a corrupt attorney general who’s failing with violent crime and migrant crime and whose only purpose in life is attempting to get Trump,” Trump told the outlet, referring to Judge Arthur Engoron and New York Attorney General Letitia James.
Trump vowed to fight the case “all the way up to the U.S. Supreme Court if necessary.”
“They can’t take away your property before you’ve had a chance to appeal the decision of a Trump-hating, incompetent judge who has been overturned more than any judge in the state,” he said.
Trump has until Monday to secure a half billion-dollar bond or risk the seizure of his assets as he challenges a trial court’s finding that he conspired to alter his net worth for tax and insurance benefits.
Engoron found Trump liable for fraud last year ahead of a months-long trial that ended with the judge imposing a massive $464 million penalty on the Trump Organization.
Trump’s lawyers admitted Monday that despite the former president’s “diligent efforts,” it is “impossible” for him to secure a full appeals bond in that amount due to lack of cash on hand.
The former president, however, claimed in a Friday social media post that he had $500 million in cash but did not want to use it for the bond payment.
Former White House ethics head Norm Eisen called Trump’s post “dumb” in a Friday post on X, formerly Twitter, writing “now he can’t claim hardship to get a stay” and “James can help herself, including to this supposed money!”
Trump signals Truth Social windfall won’t be used to post bond in fraud case
Former President Trump on Friday signaled he would not use a potential windfall from the merger involving Truth Social to post bond in a New York fraud judgment ahead of a Monday deadline. Sharehol…
thehill.com
Fogdog
Well-Known Member
That would be an estimated (by a fraudster) value of $3.5 B, not M."I only lose other people's money, the $3.5 M is Mine, Mine, Mine MINE."
Trump signals Truth Social windfall won’t be used to post bond in fraud case
Former President Trump on Friday signaled he would not use a potential windfall from the merger involving Truth Social to post bond in a New York fraud judgment ahead of a Monday deadline.
Shareholders of Digital World Acquisition Corp. (DWAC) approved a merger Friday with Truth Social, a media startup owned by Trump, teeing up its stock market debut and a potential $3.5 billion windfall for the former president.
But Trump told Fox News Digital he would not necessarily use the infusion of cash to cover his bond owed in New York.
“That doesn’t mean I’m going to give money to a rogue and incompetent judge — the puppet of a corrupt attorney general who’s failing with violent crime and migrant crime and whose only purpose in life is attempting to get Trump,” Trump told the outlet, referring to Judge Arthur Engoron and New York Attorney General Letitia James.
Trump vowed to fight the case “all the way up to the U.S. Supreme Court if necessary.”
“They can’t take away your property before you’ve had a chance to appeal the decision of a Trump-hating, incompetent judge who has been overturned more than any judge in the state,” he said.
Trump has until Monday to secure a half billion-dollar bond or risk the seizure of his assets as he challenges a trial court’s finding that he conspired to alter his net worth for tax and insurance benefits.
Engoron found Trump liable for fraud last year ahead of a months-long trial that ended with the judge imposing a massive $464 million penalty on the Trump Organization.
Trump’s lawyers admitted Monday that despite the former president’s “diligent efforts,” it is “impossible” for him to secure a full appeals bond in that amount due to lack of cash on hand.
The former president, however, claimed in a Friday social media post that he had $500 million in cash but did not want to use it for the bond payment.
Former White House ethics head Norm Eisen called Trump’s post “dumb” in a Friday post on X, formerly Twitter, writing “now he can’t claim hardship to get a stay” and “James can help herself, including to this supposed money!”
Trump signals Truth Social windfall won’t be used to post bond in fraud case
Former President Trump on Friday signaled he would not use a potential windfall from the merger involving Truth Social to post bond in a New York fraud judgment ahead of a Monday deadline. Sharehol…
"I won't give my money to NY". As if he has any choice in the matter.
The timing is probably off and most likely, sales of his properties will happen before he can sell the stock. However, his choice in the matter vanished with the guilty verdict and declaration of intent to liquidate his assets almost 30 days ago. We'll see. Trump is/has been living in a protected space that maybe we never recognized before because the wealthy used their privilege more discretely -- also Trump has extra political and legal protections for having ex-presidential status and a judiciary that he has great influence over.
So, we'll see if he's granted unprecedented privilege of appealing without having to cover the debt to society that he incurred due to a conviction of committing financial fraud. If he's not, the property sales start next week and to Trump I say, over time, you'll get used to it. Some say that KY is best, others recommend Liquid Silk. This may be his first time but pretty soon when the judgements roll in, one after the other, BOHICA, baby.
printer
Well-Known Member
Sorry, mind plays tricks on me, The M should have been a B, I still can not see why something with 1 M (got it right this time) subscribers is worth billions. Stupid people as the value will tank when Trump sells. The DA has his golf course ready to go starting Monday, he will try to get his finances in order quickly so he does not lose more properties. He also may have the money to cover the bond but is trying to knock down the price saying there is no way to come up with that amount of money. That is what he did in the Carrol case and in the end he had the money before he was saying how poor he was to the court.That would be an estimated (by a fraudster) value of $3.5 B, not M.
"I won't give my money to NY". As if he has any choice in the matter.
The timing is probably off and most likely, sales of his properties will happen before he can sell the stock. However, his choice in the matter vanished with the guilty verdict and declaration of intent to liquidate his assets almost 30 days ago. We'll see. Trump is/has been living in a protected space that maybe we never recognized before because the wealthy used their privilege more discretely -- also Trump has extra political and legal protections for having ex-presidential status and a judiciary that he has great influence over.
So, we'll see if he's granted unprecedented privilege of appealing without having to cover the debt to society that he incurred due to a conviction of committing financial fraud. If he's not, the property sales start next week and to Trump I say, over time, you'll get used to it. Some say that KY is best, others recommend Liquid Silk. This may be his first time but pretty soon when the judgements roll in, one after the other, BOHICA, baby.
hanimmal
Well-Known Member
I guess a contract on a ex-POTUS that you might be able to squeeze ten years out of might be worth 3x the best baseball player that you can say pretty much the same thing for.
Fogdog
Well-Known Member
Maybe we could compare what the leader of a major country is paid:
Xi Jinping (President - China) earns a salary of $20,500.00 per year.
President - China
Born: 1953 China
- Annual: $20,500.00
- Monthly: $1,708.33
- Weekly: $394.23
- Daily: $78.85
LOL, yeah, that's his reported income.
I'm willing to bet he doesn't pay much in taxes either.
Don't forget that Trump didn't keep any of the money he was paid as president.
cannabineer
Ursus marijanus
It’s never easy. That man booby-trapped his holdings six ways from Sunday.
www.nytimes.com
Could Trump’s Properties Really Be Seized?
Real estate experts say that getting a judgment is a lot easier than foreclosing on a major piece of real estate. And pinning a value to Trump’s buildings is a guessing game.