Idiot bets $175 million that Donald Trump is good for it
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Good luck with that:
Former President Donald Trump posted a $175 million bond Monday to stop collection of a half-billion dollar judgment in the civil fraud case against him, preventing state authorities from seizing his assets while he appeals the verdict.
Trump’s posting of the bond comes after a panel of appellate judges last week ruled that he could post a bond in a significantly smaller amount than the $454 million he owes as a result of the verdict. That decision came after Trump’s lawyers said he lacked the cash to cover the full amount of the penalty and had been rejected by dozens of insurance companies for a bond for the full amount.
According to a court filing, the $175 million bond he and the other defendants posted Monday was provided by Los Angeles-based Knight Insurance Group. The filing didn’t specify which assets Trump used as collateral for the bond.
Knight’s president, Amit Shah, didn’t immediately respond to an email seeking information about the collateral.
If the collateral is DJT Stock that would certainly be what the bond issuer deerves. Anyway, between this rock-solid foundation for Trump’s recent paper increase in net worth and his impeccable history of making his creditors whole I see nothing that could possibly go wrong.