Fox News pundit Mark Levin was widely mocked online after questioning why no Republican "multi-billionaires" had come forward to financially support former President Donald Trump in his legal battle.
Trump recently admitted the practical impossibility of raising the $464 million required to appeal his civil fraud conviction, which stemmed from years of falsifying Trump Organization business records. The conviction, handed down last month by a New York State Court, mandated Trump to pay $355 million, representing the amount gained from the fraud plus interest.
According to The Hill:
With interest piling on an additional $112,000 each day Trump doesn’t pay, the former president now owes the state $456.8 million.
Trump’s lawyers are seeking to obtain a bond so that the enforcement of the eye-popping judgment would be automatically paused while they appeal Engoron’s ruling. But to obtain the bond, Trump must post collateral covering 120 percent of the judgment — more than $557 million, the lawyers said in a court filing.
In response to Trump's financial predicament, Levin took to social media to express his dismay, questioning why wealthy Republicans had not stepped up to assist the former President.
He said:
"Why are there no Republican multi-billionaires offering to lend President Trump the funds to file his appeal in the outrageous case in NY state?"
"Are none of them liquid enough to help or join with others to help? This is an outrage."
You can see Levin's post below.
However, X users were quick to provide Levin with a reality check, citing various reasons why GOP billionaires might be hesitant to offer financial assistance to a man who has proven to be a major financial liability.
As the deadline approaches for Trump to appeal the judgment handed down by Judge Arthur Engoron last month, Trump’s legal team disclosed that he has been unable to procure the necessary funds to secure the bond. They pointed out that he actually needed to secure closer to $557 million, as most bond agents mandate 120% as collateral.
As per the filing submitted on Monday, Trump's legal representatives made attempts to persuade 30 underwriters to back the staggering bond, yet none of them were willing to accept his properties as collateral.
If Trump fails to obtain a ruling from the appeals court to halt Engoron’s ruling from February 16 or to reduce the security deposit, he will need to submit the total amount to the court by March 25 to automatically prevent the Attorney General from initiating the collection process.
This process could involve requesting the sheriff to seize his properties, including possibly Trump Tower, among others.
@SecWar/X
reply to @SecWar/X
reply to @SecWar/X
reply to @SecWar/X
reply to @SenMarkKelly/X
reply to @SenMarkKelly/X
reply to @SecWar/X
reply to @SecWar/X
reply to @SecWar/X
reply to @SecWar/X
reply to @SecWar/X
