Fox News hostĀ Mark LevinĀ has called out billionaires for not payingĀ Donald Trumpās legal bills after the former presidentās legal team said paying his $400 millionĀ New York civil fraud penaltyĀ would be āa practical impossibility.ā
Trump is seeking a bond of $464 million to cover his fines and a stay in the execution of the monetary portion of the civil trial ruling after JudgeĀ Arthur EngoronĀ ruled in February that Trump must pay $355 million for committing fraud. The New York court held that Trump and top executives at The Trump Organization inflated the value of his assets to obtain more favorable terms from lenders and insurers. With interest, the full payment will be roughly $454 million. Trumpās lawyers are appealing the verdict.
On Monday, theĀ RepublicanĀ suffered a setback after Trumpās legal team admitted in a court filing that it is aĀ āpractical impossibilityāĀ for him to make the $464 million payment and requested a stay pending the outcome of an appeal process. His team had contactedĀ 33 companies to try to secure funding.
I mean thatās really not fair. If he had invested in the stock market he would have had 13 billion that could be sold at any time without any significant loss of value. On the other hand, his real estate is probably worth less than a billion in a fire sale.