Letitia James turns the screws against Donald Trump
Donald Trump has already been forced to admit that he can’t come up with bond in his New York civil fraud judgment – an embarrassing acknowledgment for a guy who likes to claim he’s a billionaire. Now things have taken an even uglier turn for him, thanks to New York Attorney General Letitia James.
Trump claimed in his most recent court filing that he approached thirty bond companies but they all turned him down because he tried to offer property instead of cash as collateral. But Letitia James is firing back today, asserting that there’s no evidence that this actually happened.
Instead James is alleging that the bond companies turned Trump down because he refused to have his properties appraised when he offered them as collateral. James is further asserting that Trump is unwilling to have his properties appraised because they’re all worth less than he claims.
This now puts Trump in a whole new kind of no-win situation. If he goes back and has his properties appraised in an effort to obtain bond, it’ll expose that he’s always sharply overvalued them. This could make it harder for him to obtain bond even with the appraisals. And this kind of alleged overvaluation is at the heart of the potential charges that Alvin Bragg hasn’t yet brought against Trump in his ongoing criminal probe.
But if Trump refuses to go back and have his properties appraised in an effort to obtain bond, it’ll surely result in the judge rejecting his argument that the bond size should be reduced. In other words, either way, Donald Trump loses. Now Trump just has to decide which way he wants to lose.
