So much for him being a successful businessman. At best he was a success at committing bank fraud. It looks like the Trump Organization is going to get the corporate dealth penalty.
So much for him being a successful businessman. At best he was a success at committing bank fraud. It looks like the Trump Organization is going to get the corporate dealth penalty.
But it won't hurt him at all. He'll just put out a whine that he's being persecuted and the MAGAs will fall all over themselves to write him checks. Incredibly, he's not being accused of a crime here.
Originally posted by: Kevin Lewis
But it won't hurt him at all. He'll just put out a whine that he's being persecuted and the MAGAs will fall all over themselves to write him checks. Incredibly, he's not being accused of a crime here.
They will liquidate all of his real estate. Wouldn't it be great if someone bought Trump Tower and turned it into migrant housing?
Originally posted by: Mark
They will liquidate all of his real estate. Wouldn't it be great if someone bought Trump Tower and turned it into migrant housing?
But "liquidate" means "sell,"---and the proceeds will go to the owner, i.e. Trump, unless those funds are garnished, which would take several entirely separate court actions.
Getting his real estate sold off could provide him with a source of cash for his legal bills.
Originally posted by: Kevin Lewis
But "liquidate" means "sell,"---and the proceeds will go to the owner, i.e. Trump, unless those funds are garnished, which would take several entirely separate court actions.
Getting his real estate sold off could provide him with a source of cash for his legal bills.
Nope, proceeds would go to the lenders and everyone knows Trump is upside down in the properties which would leave him nothing. Look for Trump to file bankruptcy to try and save Mar A Lago through the homestead exemption.
Originally posted by: Mark
Nope, proceeds would go to the lenders and everyone knows Trump is upside down in the properties which would leave him nothing. Look for Trump to file bankruptcy to try and save Mar A Lago through the homestead exemption.
The lenders would have to file multiple completely separate lawsuits to collect. Remember, Trump isn't necessarily in default on his loans backing those properties and if they're sold, it would be an involuntary transaction, so he wouldn't be in violation of his loan agreements. So he'd have a wad of cash, and the lenders would contact him and say, "The properties that were collateral for this loan are no longer owned by you, so according to the terms of your loan, the entire balance is due." And Trump would say, "I'll get back to you," and scamper away.
Don't forget, he's done this literally hundreds of times before--successfully. He runs up a shitload of bills, sells the property, and then runs away from his creditors. I have the feeling he actually wants this to happen.
Trump won't file for bankruptcy, because that would place control of his assets in the hands of a trustee. He'd much rather fight everything in court and delay, delay, delay. Why wouldn't he? It's worked for him before-spectacularly.
And don't forget that all he has to do is luck out and have the case(s) wind up in the hands of a Trumpy judge. Game over.
I don't think the court has jurisdiction outside NY. Maralago is not impacted
Originally posted by: PJ Stroh
I don't think the court has jurisdiction outside NY. Maralago is not impacted
That appears to be part of the case because it was put up as collateral in a loan that was originated in NY and I believe it is owned by the Trump organization which has been dissolved.
It turns out that Don Jr's and Eric's New York homes may be owned by Trump LLCs. In which case, they could get evicted.
(And if I took possession of Don Jr's place, I'd run a Roomba and probably scoop up a couple pounds of Bolivian Marching Powder!)
