It's still early hours over there? (Or was at the time of your post).
We don't know yet if James has actually filed a seize request with the court. Likely that'll happen today/tomorrow and then they will start approaching the banks and local law enforcement. As exciting as it all is, sadly I don't think anything crazy will happen today at minimum. Trumps actually got plenty of time. He'll find the money or figure out some other delay.
Just wow, that was a bullshit ruling in the 1st place that you have to front the entire amount to appeal something. You think that would be fair for a normal person to have to front like say $50,000 they got fined for the exact same thing to be able to appeal? That would mean only the rich could possibly appeal such things and not the rich getting a "break". Trump derangement syndrome is strong in this group.aaand we once again get confirmation theres different rules for the rich
N.Y. appeals court reduces Trump's bond in his civil fraud case to $175 million, a victory for the former president
The court also gave Trump an additional 10 days to post the bond, which the former president said Monday he would pay.www.google.com
Its funny this arrangement still applies to rich people who broke the social contract. You'd think doing a coup against the system that keeps going easy on them as a courtesy to their status would see this courtesy revoked.aaand we once again get confirmation theres different rules for the rich
N.Y. appeals court reduces Trump's bond in his civil fraud case to $175 million, a victory for the former president
The court also gave Trump an additional 10 days to post the bond, which the former president said Monday he would pay.
Yeah, there's a lot of that going on. It seems there was a bunch of rules that everyone followed, there was a limit to how evil someone could be in exchange for a limit to how much they could be punished for their evil. Trump has broken the rules on the first, and rich people society hasn't caught up yet.
The point is to keep the person who already has a judgement against them from using the funds that should go to pay that judgement on lawfare.
It's pretty common to reduce damages on appeal in large civil cases even if the whole thing isn't overturned.
www.forbes.com
It looks for all the world like a money-making scam. Obviously, the company is obscenely overvalued, and it's hard to believe that normal, responsible corporate governance would run an IPO at a value so far divorced from the realistic value of the company.
The whole thing is certainly an odd duck. Im afraid Im not versed enough in the language to explain what the endgame was for the stock. I actually don't think this whole thing was a money washing scheme. I think Trump is always trying to make money off branding and legitimately suckered the chinese into investing with the wild expectation that hell become president and make truth social somehow the new twitter.
Reuters: "The company posted a net loss of $58.2 million in the year ended December 2023, compared with a net profit of $50.5 million a year earlier. Revenue was $4.13 million last year, up from $1.47 million in 2022, it said in a filing."
The company posted a net loss of $58.2 million in the year ended December 2023, compared with a net profit of $50.5 million a year earlier. Revenue was $4.13 million last year, up from $1.47 million in 2022, it said in a filing.
It has been (still is?) under investigation for potential money laundering by Russian investors. But yes, I don't think that was the aim - it seems to me like another one of Trump's many, many spin-off / licensing / fraud-bullshit schemes, as you say playing off his branding.
Well, yes. Truth Social is basically a failure. It exists, it's worth something, but it's clearly never going to challenge the big players, and mostly exists as a vanity project and money sink. Dumping it is therefore good business. Dumping it for a wild overvaluation even better. I cannot help but feel that this was a lot of what the merger through the SPAC was about: essentially a way to dodge regulations, which may have impeded this wild overvaluation.
Technically, his own firm won't let him, not stock agencies. TMTG created that rule for itself that hte investors couldn't dump stock for 6 months. What it can make, it can undo, and the board are staffed by Trump cronies, so if he directs them to do that they will. On the other hand, Trump attempting to exit early would almost certainly crater the value of the company anyway, because of the message it sent out.
Revenue is income from core operations of the business (its provision of goods/services). However, there are also potentially non-operating incomes too: these are usually things like sales of assets (IP, property, etc.).
It's perfectly normal to expect someone to pay the penalty before appeal. After all, we jail convicted murderers and thieves pending their appeals, too. In terms of fines, it also restricts individuals dicking around with their money to try to deny it (spending it, or finding wheezes to conceal it, etc.)
...so perhaps you should try understand more of the process before demeaning others from a place of ignorance.
''Trump derangement syndrome'' is just a pitiful attempt to shame people for being absolutely correct. Its funny that every prediction or fear that was so ''deranged'' turned true, even the fear he'd attempt to topple democracy by force.
