Legal AF by MeidasTouch - Trump SCREWS HIMSELF HARD with MISSING Bond

Episode Date: February 28, 2024

Trump is playing with fire, by failing to post any bonds to stop collection on the $450 million dollar NYAG civil fraud judgment and the $83.5 million defamation punitive damage case for E Jean Carroll. Michael Popok explains the result—the NYAG and E Jean Carroll can start liquidating Trump’s bank accounts and real estate right now with the help of the court appointed monitor who knows where all the assets and accounts are and their value. Head to https://TryFum.com/legalaf and use code LEGALAF to save 10% off when you get the journey pack today! 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

Crypto is like the financial system, but different. It doesn't care where you come from, what you look like, your credit score, or your outrageous food delivery habits. Crypto is finance for everyone, everywhere, all the time. Kraken, see what crypto can be. Not investment advice. Crypto trading involves risk of loss. Fandual Casino's exclusive Live Dealer Studio has your chance at the number one feeling, winning, which beats even the 27th best feeling saying I do.

Who wants this last parachute? I do. Enjoy the number one feeling, winning in an exciting Live Dealer Studio, on Fanduil Casino, where winning is undefeated. 19 plus and physically located in Ontario. Gambling problem, go 18665-3126-Hundred or visit connexontario.ca. Please play responsibly. Michael Popak, legal AF on this hot take. Put together the two judgments against Donald Trump

and explain to you why he's playing with dynamite because right now as I speak, lawyers for the New York Attorney General, lawyers for Eugene Carroll can go after his assets because he has failed to post a bond to stop enforcement of his $450 million judgment in the New York Attorney General case and the $83.5 million judgment in the New York Attorney General case and the

$83.5 million judgment in the E. Jean Carroll sex assault punitive damage case. And in this moment, this critical moment, why is he playing with dynamite? Likely because he doesn't have the money. He can't scrape up the bond. And therefore he has, if for instance, in the New York Attorney General's case, he's filed his notice of appeal, sure. But that doesn't stop the enforcement of the judgment, which is running with interest at $3.4 million a month. And so as of right now, because the judgment is in place, because there's no stay in place, the New York Attorney General

can start seizing his assets up to the level of the total judgment running with interest. And it's easy for her to do that. All she's got to do is call the monitor. Leticia James, the New York Attorney General, calls the monitor, former federal judge Barbara Jones, and says, print out a list of all the assets and bank account numbers, please. And properties, please. And she starts with the sheriff's help, starts collecting assets. And that will continue unless and until Donald Trump eventually gets around to posting a sufficient bond. There's, there's a, there can be a bond hearing. He can ask for a bond hearing with Judge and Goron,

but we know where that's going to go. It's just going to be a running interest on $450 million plus another 10 to 20% on top with interest included on top of that. We're talking about an over $500 million bond that's going to have to be posted. In the meantime, she has an enforceable judgment under New York law. Same thing over, I told you I was going to do both, same thing over in the E. Gene Carroll, the jury verdict now reduced to a judgment by Eugene Carroll, the jury verdict now reduced to a judgment by a federal judge, right? Got a judgment, a federal judge, $83.5 million, also running with 9% interest annual compounded,

that's the rate in New York. And Donald Trump has asked the judge to delay the enforcement of the judgment and stay it while he argues to the judge that the bond amount should be lower because the judgment should be reduced by what we call remititer. Okay. The judge said, no, the judge says, I'll hear briefing on the issue, but I'm not staying the enforcement of the judgment, which means Robbie Kaplan, on behalf of E. Jean Carroll, can go after assets for Donald Trump, and she can do the same thing.

She can go call the monitor who's a court officer, who's a sworn officer of the court, and ask her for a printout of the assets for Donald Trump that she's responsible for, and then start collecting on those assets. This is the dynamite that Donald Trump, his lawyer is Alina Habba, and Mr. Cliff Robert are playing with. I saw the notice of appeal that's been filed as of the hot take related to the $450 million running with interest judgment in the New York Attorney General case

signed by Alina Habba and Cliff Robert. Newsflash, you guys did terrible at trial. I didn't see Chris Kays's name on there, by the way, your co-counsel. Go get an appellate lawyer that knows what they're doing because you guys don't understand procedure in the state of New York. And you're playing with fire if you think

the New York Attorney General is gonna give you a stay, if you will, because she's gonna be slow-footed in how she goes and tries to collect assets now that there's a judgment in place. Once you have a judgment and there's no stay, you can execute on that judgment. It's fundamentals. It's creditors' rights 101,

which seems to be missed on Donald Trump. Same thing now that the automatic stay has passed, or is about to pass in the federal case involving E. Jean Carroll, same thing. It's not even an 83.5 million dollar judgment anymore. It's an 83.5 million dollar judgment that's been running with interest since the verdict at 9%. It's already up over 84, almost 85 million dollars and counting. We have a counter, I think, on the Midas Touch Network, which shows the amount that Donald Trump owes every day until it's paid. Now, to clear up a couple of misconceptions

as a New York practicing lawyer that does creditors' rights, you don't have to post a bond in order to be entitled to an appeal, okay? You don't have to post the bond to get an appeal. You want to have an appeal without a bond? Go ahead. But in the meantime, your assets are at risk to be executed against levied, garnished, collected, sold, and the money go to your judgment creditor,

which in this case is the New York Attorney General, and on the other case of Eugene Carroll. And if they collect money and it turns out your appeal is successful and you haven't posted a bond, what happens? Well, they got to pay back the money, not with interest. They pay back the money, but they hold your assets in the meantime. And so that's the dynamite that Donald Trump is playing with, because he could lose in the next month a bank account that has several million dollars in it, and he can't move the bank accounts to avoid the judgments for a number of reasons. Ever tried to break a bad habit and felt like

you're climbing Mount Everest in flip flops? Yeah, we've been there too. But here's the breath of fresh air, Fume. It's not about giving up, it's about switching up. Fume takes your bad habit and simply makes it better, healthier, and a whole lot more enjoyable. Fume is an innovative, award-winning flavored air device that does just that. Instead of vapor, fume uses flavored air. Instead of electronics, fume is completely natural. And instead of harmful chemicals, fume uses delicious flavors. You get it.

Instead of bad, fume is good. It's a habit you're free to enjoy and makes replacing your bad habit easy. Your fume comes with an adjustable airflow dial and is designed with movable parts and magnets for fidgeting, giving your fingers a lot to do, which is helpful for destressing and anxiety while breaking your habit. The first time I tried fume, it was way more flavorful than I thought and it feels very fresh. The look and feel of a fume is very sleek. It's well-weighted, perfectly balanced and extremely fun to fidget with.

Plus fumes just released, a magnetic stand for your fume. So there's no more losing it around the house and it's built with fidgeting in mind. You can spin your fume around on it, start the year off right with the good habit by going to tryfume.com slash legal AF and getting the journey pack today. Fume is giving listeners of the show 10% off

when they use my code legal AF to help make starting the good habit that much easier. Start the good habit at trifume.com slash legal AF to save 10% off the journey pack today. One, we call that fraudulent transfer, and it would be unwound and reversed with penalties and a new finding by the judge. But more importantly, there is a monitor.

All of Donald Trump's assets, including in the trust that he has is under the control of a monitor. It's in monitor ship. And the monitor is former federal judge Barbara Jones, appointed by Judge Angoran. She's not going anywhere. She's been given even more robust powers by way of the judge's decision

in the New York Attorney General case. And she's gonna be around for at least three more years. And so she knows all where she has to know by court order where all the assets are, inventory, cataloged, appraised, valued. She knows about their movement. She knows every bank account number. She knows the balance in every bank account that Donald Trump or affiliates of Donald Trump have.

She knows his real property. We all do at this point after 11 weeks of trial. And that is a target-rich environment for creditors like the New York Attorney General and the lawyer for E. Jean Carroll trying to collect on her behalf. It's not like a situation, for instance, that we call a paper judgment.

Paper judgment is sort of what it sounds like. You get a judgment against somebody, but there's sort of judgment proof or judgment difficult to collect against. And that's one of the things you have to assess as a lawyer when you take a case, especially if you take a case on what we call contingency, where you're getting a percentage of the collection. How difficult or impossible will it be to collect against assets of the judgment debtor? How many trusts do you have to go through? How much offshore money and trusts do you have to go try to find?

And secret places and hiding places for the money and assets? Here, everything's public, everything's reported, everything is with Barbara Jones that belongs to Donald Trump. So it's very easy. I would take this case on contingency in a heartbeat because he's easy to collect against. And if it's real

property and he's not liquid, that's okay. Well, the Sheriff's office has big long chains and really strong locks and can lock it up and set it for on advertising, can set it for sale and collect the money and turn it over until the judgment is paid with every last dime of interest until the judgment is paid. And that's what's going to happen here. So I've said to clients before, you know, sometimes not being able to post the bond ends the case. The person who can't post the bond doesn't take the appeal because they're not going to get the benefit of the appeal. They're going to lose their business, their assets, their credit lines, whatever it is that's the subject of the judgment, and they'll be out of business for a year or two while you're litigating over whether the

appeal was successful or not. And a newsflash, Donald Trump's appeal is not going to be successful. Neither the one to the Second Circuit, federal court for E. Jean Carroll, 83 and a half million. His primary argument is going to be punitive damages are too high. It's too many multiples above the consequential or actual damages. And we have a sort of a rule of thumb under the Supreme Court precedent that if punitive damages have to be somewhere between one and four times the amount of your actuals. So if your actuals are 17 and a half million, which they were in the E. Jean Carol punitive damage,

actual damage case, for him defaming his rape victim, then you do, she's either entitled to somewhere between 17 and a half more damages, which would be one time, or like $68 or $70 million, title to somewhere between 17 and a half more damages, which would be one time, or like $68 or $70 million, which is the extreme that the that the jury went to because they, they hated Donald Trump and what he did to Eugene Carroll in real time, including during the trial where he defamed her in social

media while he was sitting in the courtroom. And so, you know, that if you so back to my original point, if you can't post the bond, it's gonna be unlikely that you're gonna, this is worthwhile, but Donald Trump thinks everything's worthwhile. So he filed the notice of appeal with no bond leading to a lot of head scratching

because at the moment, she and Leticia James attorney general can go grab his assets. And then he's gonna have to litigate over their return at the moment, she and Letitia James Attorney General can go grab his assets. And then he's going to have to litigate over their return at the end of an appeal, or hope that he gets a stay somehow with a bond hearing set, but the bond hearings are always set at the trial level, but argued to the appellate court on some sort of emergency basis that he's entitled to a lower bond amount, and then post that lower bond amount. Their try, the number they're targeting,

apparently based on some comments made by Alina Habba, is about 22 million. They wanna post a 22 or $24 million bond. They don't wanna post a, in, for instance, in the E. Gene Carroll case, they don't wanna post an 83 and a half million bond. They haven't said the amount they wanna post in it, in the $450 million case for the New York Attorney General, Lena Haba bragged, you know, with false privato,

we've got the money, he's got 500 million. Well, apparently he doesn't because he hasn't posted any of it. So they're playing with fire here, as you can see from my thematic of my hot take, in that they are leaving open the door to the creditors who are the judgment creditors to go collect assets while he's screwing around with the bond amount until and lessen until some court stays the case. It's going to stay where it is. The New York Attorney General case is not going to go off to federal court or the U.S. Supreme Court one day.

It's going to have to stay in New York, New York state processes. And the federal case of Eugene Carroll, he can try the appeal up to the Second Circuit. He already had an appeal related to immunity that failed, claiming he was president when these comments were made. And he'll try it again, but he's gonna have to post that bond in the meantime. We'll follow it here on the Midas Touch Network

and on Wednesdays and Saturdays on legal AF. So until my next hot take, till 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 to the Midas Touch newsletter at MidasTouch.com slash newsletter.