this post was submitted on 17 Feb 2024
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219
Trump's legal debts top a half-billion dollars. Will he have to pay? (www.independent.co.uk)
submitted 8 months ago by MicroWave@lemmy.world to c/news@lemmy.world
34 comments fedilink hide all child comments
 

Donald Trump’s legal debts might now exceed a half-billion dollars

A New York judge ordered Trump and his companies Friday to pay $355 million in fines, plus interest, after ruling that he had manipulated his net worth in financial statements.

The stiff penalty comes just weeks after Trump was ordered to pay $83.3 million to the writer E. Jean Carroll for damaging her reputation after she accused him of sexual assault. A separate jury last year awarded Carroll $5 million from Trump for sexual abuse and defamation.

Add interest payments on top of that and the judgments could deal a staggering blow to the personal fortune that remains core to Trump's political appeal. He has adamantly denied wrongdoing and pledged to appeal, a process that could take months or even years.

In the meantime, here’s what we know about what Trump owes, whether he’ll have to pay up, and what comes next:

…

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[–] girlfreddy@lemmy.ca 63 points 8 months ago

Over the last two years, Trump’s Save America political action committee, his presidential campaign and his other fundraising organizations have devoted $76.7 million to legal fees. Campaign finance experts expect Trump will try to spend PAC money to defray the cost of his judgments in some way.

“The likelihood of the Federal Election Commission in its current configuration pursuing these violations is not terribly great,” said Daniel Weiner, director of the Brennan Center’s Elections and Government Program.

Then the Federal Election Commission needs a complete overhaul ... which will never happen but, one can wish it would anyway.

[–] Varyk@sh.itjust.works 58 points 8 months ago* (last edited 8 months ago) (1 children)

Yes. Bonds are not refundable .

Each appeal brings less wiggle room.

He's already paid the 5 million from the initial settlement, his lawyers know that he can't keep running away forever.

[–] Jaysyn@kbin.social 37 points 8 months ago (1 children)

It's a civil suit, he's not getting remanded into anything.

New York will auction off everything he owns first.

[–] Varyk@sh.itjust.works 7 points 8 months ago

Thank you, edited

[–] uphillbothways@kbin.social 42 points 8 months ago

Of course not. Rich people are fucking weasels. How do you think they get rich? They weasel the system. They weasel the profits of other people's productivity. They leave death and chaos in their wake. They lie, cheat, steal and rewrite the rules to suit them.

[–] ChihuahuaOfDoom@lemmy.world 33 points 8 months ago (1 children)

It doesn't matter if he "has to", he won't, period. Somehow this man is the real life opposite of the Lannisters, a Trump never pays his debts.

[–] Varyk@sh.itjust.works 16 points 8 months ago

He's already paid the 5 million from the initial ruling

[–] FlyingSquid@lemmy.world 23 points 8 months ago (1 children)

Of course not. He has plenty of people willing to pay it on his behalf.

[–] Varyk@sh.itjust.works 24 points 8 months ago* (last edited 8 months ago) (4 children)

Political funds can't be used to pay these fines. PACs apparently can pay for them, but he raised about 300 million from all sources including PACs for his first presidential campaign, so even if he manages to cajole this much away, it's going to leave him in a substantially weaker position.

[–] hitmyspot@aussie.zone 23 points 8 months ago (3 children)

And if all the money goes to pay for fines instead of ads, he loses and the criminal charges will come to bite. His whole plan is to get elected to buy time.

[–] Varyk@sh.itjust.works 18 points 8 months ago (1 children)

Exactly. F*** that guy and I'm excited for him to lose again and then die, fingers crossed.

[–] hitmyspot@aussie.zone 2 points 8 months ago

I'm more excited for him to lose, be jailed and watch the crumble of his horrible family. Then die knowing he was a hayed failure.

[–] Starbuck@lemmy.world 16 points 8 months ago

And if his following of dupes donate all their money to him, to cover his legal bills, there is much less for down-ballot races. Hopefully he sucks up everything the GOP has and squanders it.

[–] Jaysyn@kbin.social 8 points 8 months ago (1 children)

That's also money the #fascist #GOP can't use to spread their lies.

[–] hitmyspot@aussie.zone 1 points 8 months ago

Hopefully a circle of life situation where those trump has hurt benefit most from his followers donations.

[–] snekerpimp@lemmy.world 16 points 8 months ago (1 children)

Man was convicted of fraud, it’s all he knows. A law forbidding something is for poor rubes, not a rich daddies boy fraudster. He’ll use any funds he can get his little baby fingers on, regardless of legality.

[–] Varyk@sh.itjust.works 10 points 8 months ago* (last edited 8 months ago)

He can use any avenue he can lay his s***** fingers on, but he's already paid 5 million and I will be shocked if he does not end up paying substantially more.

Can't wait for baby hands to go down in flames. Coronary or otherwise.

[–] dhork@lemmy.world 14 points 8 months ago (2 children)

Political funds can't be used to pay these fines.

Why not? Do you mean it's illegal? Do you think that will stop him?

[–] Varyk@sh.itjust.works 3 points 8 months ago* (last edited 8 months ago) (1 children)

I mean that since political contributions cannot be used for these fees specifically, campaign funds won't be accepted by the courts to pay these fines, if that's what you mean.

[–] girlfreddy@lemmy.ca 8 points 8 months ago (2 children)

You're right about campaign funds not being used, but Super PAC funds can and likely will be used ... because the GOP's adherents are a shill for mango-face.

[–] Varyk@sh.itjust.works 7 points 8 months ago

That's true, however, the total funds including PACs of his first term were less than his 350 million fee, so he wouldn't have been able to run for president at all in 2016 if these fees were around then, and even in 2020 when they went up to 750 million, a historical amount of presidential campaign funds, especially for a piece of s***, if you subtract the 530 million dollars he owes, it's a very significant amount.

[–] BakerBagel@midwest.social 4 points 8 months ago

Let his Super PAC pay. It's been gobbling up so much money that GOP organizations across the country are going broke. Trump's legal expenses are sucking all the money from the GOP and they are ginna struggle to run effective campaigns in key races this year.

[–] FlyingSquid@lemmy.world 8 points 8 months ago (1 children)

I was thinking of PACs. And I would not be at all surprised if PACs fill up with foreign dark money to help Trump into office. Thanks, SCOTUS.

[–] Varyk@sh.itjust.works 8 points 8 months ago (1 children)

Even dark money only makes safe investments that they have corrupt information on.

Dumps is proving an ever unsafer investment.

Also, f*** scotus

[–] FlyingSquid@lemmy.world 4 points 8 months ago (2 children)

Agreed, but Putin and his allies would consider it a very safe investment over Biden.

[–] Varyk@sh.itjust.works 7 points 8 months ago* (last edited 8 months ago)

I don't think so. I actually can't see that reasoning. What do you mean?

All of the money that went into dumps presidential campaign fund in the 2020 run was double the amount of 2016, which is like 16 times the amount of any presidential campaign beforehand, and he still lost.

I do think Putin would invest in disinformation, but I can't see him investing even through third-party funneling, into Trump when he already lost and is now so much more civilly liable and under investigation and trial for criminal lawsuits.

It's a worse investment.

[–] hitmyspot@aussie.zone 1 points 8 months ago

I think you misunderstand what a safe investment means. The problem now is it will take more money to elect trump and most money donated will go to his legal troubles and debts. So there is less chance of return and more money needed to make a return.

Yes, they certainly don't want Biden elected and won't donate to him, but trump is a poorer investment. First time round he was a long shot that paid off big. Second time round, he was a huge expense that failed. Third time round, he's less likely to get in, more likely to be in jail and more likely to die at any point from the stress of it all.

[–] Philharmonic3@lemmy.world 12 points 8 months ago (1 children)

Pay or die asshole.

[–] dojan@lemmy.world 17 points 8 months ago

Both is good.

[–] Rapidcreek@lemmy.world 12 points 8 months ago

The court taking assets in lieu of payment would be very painful for that guy.

[–] gedaliyah@lemmy.world 8 points 8 months ago

Oh really? The reality tv star offered to pay you in “exposure?” Huh how sad for you and completely unpredictable

[–] IvanOverdrive@lemm.ee 5 points 8 months ago

Three words: Jared's Saudi buddies.