Legal AF by MeidasTouch - Trump Gets CORNERED after LYING to Federal Court AGAIN

Episode Date: March 9, 2024

Did Trump and Habba LIE TO A FEDERAL JUDGE (again) about Trump having difficulty raising money to post a bond to stop the enforcement of E Jean Carroll’s $83.5 million dollar punitive damages judgment, WHILE HE HAD THE BOND IN HIS BACK POCKET ALL ALONG? And why did Chubb Insurance led by a frequent Trump critique agree to post the bond for Trump? Michael Popok pulls it all together on his latest Legal AF hot take Upgrade your sleep with Miracle Made! Go to https://TryMiracle.com/LEGALAF and use the code LEGALAF to claim your FREE 3 PIECE TOWEL SET and SAVE over 40% OFF. Visit https://meidastouch.com for more! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncovered Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Michael Popak with a legal AF hot tag. Donald Trump has posted his bond. He got a bonding company, I'm gonna tell you who that is, to put up the $91.6 million bond that's required to stop the immediate enforcement on Monday of E. Gene Carroll's defamation and punitive damage bond. If he hadn't posted the bond by today or by Monday, then Eugene Carroll would be able to execute on the judgment,

seizing his assets, grabbing his bank accounts and padlocking his real estate in order to sell it at a sheriff's sale. To avoid that, Donald Trump has tried to squirm his way and try to bargain with the court system to lower the amount he had to post. But as we reported yesterday, Judge Kaplan was having none of it and told him, I'm not going to rule on your motion to stay the enforcement of the judgment without a bond on your timetable. I'm going to do it on my timetable. My timetable may not be until after the Monday deadline for you to post the bond happens, or I'm going to let

you know over this weekend. In either event, it's all if you're fault. You didn't organize your affairs, Mr. Trump. You didn't prioritize collecting the money and finding the money you've known since January 26th that Judge said, and I'm not gonna show you any mercy. Donald Trump, what the judge didn't know is that Donald Trump already had the bond,

dated the 5th of March in his back pocket. He was just trying to mislead the judge into believing that he had not yet received the bond and needed court relief. Yet another example of of Alina Habba and Donald Trump misleading the court. The bond doesn't lie and the bond that's posted by a subsidiary of Trump Insurance Group, headed by Evan Greenberg, who's the son of the legendary insurance magnet, Hank Greenberg. Evan Greenberg, on one hand,

had been a staunch critic of Donald Trump, against his immigration policies, against his COVID policies, against his rhetoric following Jan 6th. But that didn't stop Evan Corcoran from giving the green light to his subsidiary, the Federal Insurance Corporation, to post the bond. Now, what does that mean? In order to get the bond, as I've said on a prior hot take, Donald Trump needed to pledge

assets, pledge assets that would be received by a bonding company. There's a number of ways to do that. He'd either have to get an irrevocable letter of credit from a bank upon pledged assets in which the bank would be on the hook to pay for the money or he had a pledge real estate. According to reporting, the bond requirement here is that Donald Trump put as much of the cash up as possible to back up that bond. We know he has at least 400 million. He's offered Donald Trump to put up 100 million

to try to negotiate down the bond required for the $465 million civil judgment in the Attorney General fraud case that's coming to in about 20 days. So he offered a hundred there. We know he has a hundred and this insurance company, this surety group led by Evan Greenberg is going to require, I would think at least 50 to 75% of the $91.6 million that's required because that includes compounded interest and a projection of interest on there through the course of the appeal. The $91.6 million bond, there's a requirement

that he put up a lot of cash. I think it's going to be, as I said, 50 to 75% in cash and the rest, he can come up with securities and interest and maybe he can try to hypth-cator pledge his shares in his media company, get permission to do that, put up the deed to the Trump triplex penthouse that he lives in and whatever else is required by the insurance company. I just find it odd that Chubb and the company run by Evan Greenberg, such a staunch critic of Donald Trump, would allow for the almighty greenback and the money that's going gonna be made on the premium,

the insurance premium that has to be posted on this, which is somewhere between 12 and 15% of $91 million. So let's just call it $15 million of a fee, just to make $15 million, which is not a lot of money in the insurance world. He's gonna get in bed with Donald Trump and allow that bond to be posted. He also unwittingly, Evan Greenberg,

allowed Donald Trump to mislead the court. Donald Trump is on record with filings that were made just a couple of days ago as begging the court to allow the stay of execution of the judgment without a bond at all, claiming that he would have difficulty. He'd have to liquidate assets, he'd have to sell assets. There's not a lot of time here.

It's very difficult. We know what he also wrote, Donald Trump, in the pleadings and the motions that were filed with Judge Angoron, claiming that he didn't have the money and he needed to raise it another way. That was a lie. We can tell by the date, let's put it up on the screen, the date of the bond is not today, right? It's not the eighth. It's the fifth,

the fifth of four. He filed the motions before he took the position with the court that he was having difficulty. He already had the bond in his back pocket. Now, the terms of the bond is what I've said. It means as follows, if after the appeal is over and the bond, the judgment of E. Jean Carroll that she received for being a rape victim by Donald Trump, having been raped by him, having been slandered and defamed by him, having had a wanton and reckless conduct against her with actual malice by Donald Trump, she's entitled by way of this jury to 91.6 million. Remember, she already has a $5.5 million judgment that's also running with interest because of a, she successfully beat Donald Trump in another trial last

summer. And he posted a cash bond for that out of his pocket to stop the enforcement of that. She's going to win that appeal and that $5.5 million is going to come to her. She's going to win this appeal and this 91.6 million that's going to have to be increased with interest payments is going to go to pay her if Donald Trump fails to pay her on the day the judgment is due, which would be, let's say 30 days after the appeal is over. And we have two levels of, we have one level of appeal fundamentally. The Second Circuit Court of Appeal Federal

Court sits over Judge Lewis Kaplan, who sits over the trial. 30 days after that, he's got to pay up on the barrel head, or they can go up against and collect against the bond and say to the bonding company, money please. And then they'll go against Donald Trump in a cascading domino effect and go grab the cash that they have that's been pledged, meaning they have access to it. It defaults to them and any other assets so that they're made whole at the end of the day. And of course they already got the $15 million premium for participating in this. It's just odd to me that Evan Greenberg.

Now the only connection that I know of between Trump and Greenberg besides Greenberg having been a Critic a vocal critic of Donald Trump is a Donald Trump. I guess it's better. What's the old adage? It's better to have somebody inside the tent pissing in than outside the tent No, it's better have somebody inside the tent pissing in or out. Let me try it again. It's better to have somebody pissing from inside the tent out than outside the tent pissing in. There it is. I finally got it.

Leave it in. Leave it in the clip. Donald Trump brought in Evan Greenberg and put him on a couple of panels, a couple of blue ribbon panels, about how to restart the economy during COVID. He was the only representative of the insurance industry that was actually put on that panel. And he was also put on a 2018 advisory committee about trade policy and negotiations. Another advisory committee. He's not a lot of advisory committees.

First of all, he's got a long respected lineage through his father, Hank Greenberg. And so he at 60 is on his own boards and panels, including having been recently appointed to the US China Business Council. Did you know that your temperature at night can have one of the greatest impacts on your sleep quality? If you wake up too hot or too cold, I highly recommend you check out Miracle Maid's bedsheets.

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towel set and save over 40%. Again that's trymiracle.com slash legalaf to treat yourself. Thank you Miracle Made for sponsoring this episode. But like he had to give the green light to this. And I find it odd that at any insurance company, we were speculating on legalaf about who would be the money man, who would hold the money back for Donald Trump on this. And I find it odd that at any insurance company, we were speculating on Legal AF about who would be the money man, who would hold the money back for Donald Trump on this. I said that he'd either put up the cash himself, not finding any, but he doesn't like to spend his own money, or he'd find a bonding company to sit in between against pledged assets. We speculated it could

be the Saudi government, wouldn't that be amazing? Saudi's buying a presidential candidate. We said it could be smaller banks in Florida, hedge funds or private equity funds like Ladder Capital. But insurance companies are the ones that generally post the bond. And the irony here is this insurance company doesn't have a problem with the fact that Donald Trump has been a judge by a New York Supreme Court judge to be a fraudster in and having committed insurance fraud and part of the New York Attorney General case that was proven and the judgment against Donald Trump by Judge Angoron is for insurance fraud. So, you know, if you and I walked off the street to an insurance company said, I'd like a bond, please. They say, well, tell us a little bit about yourself so we can do our due diligence and make sure from underwriting standpoint, we can post that bond for you. Tell us about your companies. What do you do for a living? Well,

I've got a series of companies under the Trump Organization banner that has been a judge to be a persistent fraudulent company over the last 10 years. Uh-huh. Anything else? Oh yes. My longtime auditors and accountants quit, fired us because they said that we were committing fraud. Okay. And there's a, we also have a monitor who's established by the state judge for the last 14 months, who's going to last another three years because we have fraudulent business practices and a lack of controls within our company that may lead to other fraudulent practices. Go on. I've also gone bankrupt four times. Yes. Anything else? This is like the old joke, that ends with somebody talking to Mrs. Lincoln who says,

well, besides that, Mrs. Lincoln, how was the show? You can look up that joke. So I don't know how Donald Trump could get an insurance company given his track record. I think it's the point of this part of the hot take to give him the money. But he did because he has some assets and cash to back it up. And Alina Habba has now asked the federal judge, Luke Kaplan, to approve of the bond and to enforce the stay against the execution of the judgment until the appeal is concluded. My gut is this is a pretty boiler

plate standard bond form that's been used signed by Donald Trump and notarized, obtained on the 5th of March, as I said earlier, while they were misleading the judge again for yet another time, the judge will likely approve it and that will stop the enforcement of the judgment. It means the judgment remains valid and enforceable, but that they can't go after the assets related to it unless and until the appeal is over

or the appeal is concluded in some way, and assuming that they win, then they can go against Donald Trump's assets or the bond. The bond is security or surety against a judgment debtor in the form of Donald Trump defaulting on his obligations. We'll continue to follow what happens, not just in the Eugene Carroll bond matter, but now what Donald Trump does

in the New York Attorney General, much larger over $500 million bond requirement that's needed there. That one's a bigger lift. Maybe it's Chubb again. Maybe it's Evan Greenberg bailing out Donald Trump once again with another pledge of substantial assets, Mar-a-Lago perhaps, the Trump Tower,

Trump Palace, anything with a Trump name on it, maybe that's what's happening. But my gut is if he secured this one and they know that he's got to have the other one, we might see Chubb having already given him the bond in his back pocket and he's locked that in while he continues to try to quote unquote negotiate with the court system, which never works to try to pay less than every cent on the dollar. We'll follow it on Legal AF and on the Midas Touch Network. And I'll do hot takes like this one, only one place right here on Midas Touch and then our podcast Legal AF, yes, the cheekily named podcast, the intersectionsection of Law Politics and Justice,

right here on Wednesdays and Saturdays at 8 p.m. Eastern time, follow me, Michael Popak, for this kind of content. If you like it, give me a thumbs up, leave a comment. It helps with the algorithmic gods and my ratings, which is important to keep me on the air. So until my next hot take, until my next Legal AF, this is Michael Popak reporting. Love this video. Make sure you stay up to date on the latest breaking news and all things Midas by signing up Until my next hot take until my next legal AF. This is Michael Popak reporting.