Judge Denies Trump’s Request , to Delay Payment to E.
Jean Carroll.
On Jan.
26, Judge Lewis A.
Kaplan
ordered Donald Trump to pay writer E.
Jean Carroll $83.3 million for ruining her credibility by calling
her a liar after she accused him of sexual assault.
On Jan.
26, Judge Lewis A.
Kaplan
ordered Donald Trump to pay writer E.
Jean Carroll $83.3 million for ruining her credibility by calling
her a liar after she accused him of sexual assault.
The judgement, which included a $65 million
punitive award, was challenged by Trump's lawyers who claim there is a "strong probability" that
the amount will be decreased or eliminated.
On March 7, Kaplan said that he won't postpone deadlines for posting a bond that
would guarantee payment to Carroll if the
judgement stands after appeals, NPR reports.
.
On March 7, Kaplan said that he won't postpone deadlines for posting a bond that
would guarantee payment to Carroll if the
judgement stands after appeals, NPR reports.
.
The judge went on to say that any financial harm Trump incurs is a result of his slow response to the verdict made in January.
Trump's lawyers didn't seek to
delay the date in which the bond must
be posted until 25 day later, Kaplan said.
.
Mr. Trump's current situation is a
result of his own dilatory actions, Judge Lewis A.
Kaplan, via written order.
Nor has Mr. Trump made any showing
of what expenses he might incur if
required to post a bond or other
security, on what terms (if any) he
could obtain a conventional bond, , Judge Lewis A.
Kaplan, via written order.
... or post cash or other assets to
secure payment of the judgment,
or any other circumstances
relevant to the situation, Judge Lewis A.
Kaplan, via written order.
The judgement will be final on March 11.
.
Meanwhile, Trump has also been ordered
by Judge Arthur Engoron to pay
$355 million in penalties for civil fraud
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Trump Can’t Obtain Appeal Bond , in New York Fraud Case.
According to a New York court filing
on March 18, Trump isn't able to secure a
$454 million bond as he appeals a civil business
fraud judgement against him, CNBC reports. .
Trump's attorneys said that getting the bond is "impossible" since it would "effectively" require "cash reserves approaching $1 billion.".
Defendants’ ongoing diligent
efforts have proven that a bond
in the judgment’s full amount
is ‘a practical impossibility.’, Donald Trump's lawyers, via CNBC.
Gary Giulietti, president of the
Northeast division of the Lockton Companies, was hired to help Trump obtain a bond.
Despite scouring the market, we have
been unsuccessful in our effort ... for the
simple reason that obtaining an appeal bond
for $464 million is a practical impossibility
under the circumstances presented, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Simply put, a bond of this
size is rarely, if ever, seen, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
In the unusual circumstance that a bond of
this size is issued, it is provided to the largest
public companies in the world, not to
individuals or privately held businesses, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Giulietti went on to say that a private company would need about $1 billion to put up as collateral to receive a bond of that size. .
While it is my understanding that
the Trump Organization is in a strong
liquidity position, it does not have
$1 billion in cash or cash equivalents, Gary Giulietti, president of the Northeast
division of the Lockton Companies, via CNBC.
Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case
brought against him by writer E. Jean Carroll. .
Meanwhile, Trump secured a $91.6 million bond earlier this month as part of a separate case
brought against him by writer E. Jean Carroll.
Credit: Wibbitz Top Stories Duration: 01:31Published
Sam Bankman-Fried , Sentenced to 25 Years , for FTX Fraud.
On March 28, Sam Bankman-Fried was sentenced to
25 years in prison after being found guilty of defrauding
users of FTX, the now-collapsed cryptocurrency exchange. .
NBC reports that Lower Manhattan federal district
Judge Lewis Kaplan found the defense's arguments
misleading, speculative and logically flawed.
The judge accused Bankman-Fried of committing
obstruction of justice and tampering with
witnesses while mounting his defense.
Kaplan reportedly said that those
factors played a role in his decision
about how to sentence Bankman-Fried.
Prosecutors had originally sought a longer sentence
of 50 years, while the defense fought for
Bankman-Fried to get no more than six and a half years.
Prosecutors had originally sought a longer sentence
of 50 years, while the defense fought for
Bankman-Fried to get no more than six and a half years.
In November, Bankman-Fried was convicted on seven
criminal counts. He has been held at Brooklyn's
Metropolitan Detention Center while awaiting sentencing.
In November, Bankman-Fried was convicted on seven
criminal counts. He has been held at Brooklyn's
Metropolitan Detention Center while awaiting sentencing.
At one time, FTX was valued at over $30 billion
but ultimately collapsed in November of
2022 after announcing a major cash shortfall.
At one time, FTX was valued at over $30 billion
but ultimately collapsed in November of
2022 after announcing a major cash shortfall.
While on trial, Bankman-Fried was accused
of robbing FTX customers of nearly $8 billion,
which was partially used to fund the extravagant
lifestyles of the exchange's executives.
While on trial, Bankman-Fried was accused
of robbing FTX customers of nearly $8 billion,
which was partially used to fund the extravagant
lifestyles of the exchange's executives.
NBC reports that Bankman-Fried's sentence
is harsher than other white-collar crimes
in recent memory, such as Theranos founder
Elizabeth Holmes who received just 11 years.
NBC reports that Bankman-Fried's sentence
is harsher than other white-collar crimes
in recent memory, such as Theranos founder
Elizabeth Holmes who received just 11 years.
The outlet also notes that the judgement is more
similar to the 25-year sentence given to former
WorldCom CEO Bernie Ebbers or the 24-year
sentence given to Enron CEO Jeff Skilling.
The outlet also notes that the judgement is more
similar to the 25-year sentence given to former
WorldCom CEO Bernie Ebbers or the 24-year
sentence given to Enron CEO Jeff Skilling
Credit: Wibbitz Top Stories Duration: 01:30Published
Trump’s Civil Fraud Judgement Bond , Is Reduced to $175 Million.
On March 25, a New York appeals court told Donald Trump that if he can pay $175 million within 10 days.
collection of his $454 million civil fraud judgement will be paused, AP reports. .
The payment would also stop the state from seizing any of Trump's assets during the appeals process. .
A previous ruling that Trump and his sons, Eric and Donald Trump Jr., couldn't serve in corporate leadership for a number of years was also reversed. .
The order, a significant victory for the former president, came just before Attorney General Letitia James was about to begin the process of collecting the judgement, AP reports. .
The order, a significant victory for the former president, came just before Attorney General Letitia James was about to begin the process of collecting the judgement, AP reports. .
The presumptive Republican presidential nominee praised the ruling and criticized Judge Arthur Engoron's initial ruling.
What he’s done is such a
disservice and should never
be allowed to happen again, Donald Trump, via statement.
So I greatly respect the decision
of the Appellate Division, and I’ll post
either $175 billion in cash or bonds
for security or whatever is necessary,
very quickly, within the 10 days. , Donald Trump, via statement.
And I thank the Appellate Division
for acting quickly, but Judge Engoron
is a disgrace to this country, and this
should not be allowed to happen, Donald Trump, via statement.
However, James' office points out that the judgement still stands, even if collection is paused. .
Donald Trump is still facing
accountability for his staggering fraud, Letitia James' office, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
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