Trump will likely run out of legal defense funds by summer, report says ( www.businessinsider.com )

Former President Donald Trump will likely run out of legal defense funds this summer, Bloomberg reported.

In 2023, Trump spent $51.2 million on legal costs and has a further $23.5 million available for lawyers' fees — but that source of money will likely dry up around July, the report said.

The ex-president may now be forced to turn to a few undesirable options to cover his costs.

TengoHipo ,

Good thing those shoes will be a hit lol

Blackmist ,

That's only an issue if he intends on paying for any of it, rather than getting in office again and declaring himself and all his flunkies immune.

laurelraven ,

Anyone who does any work for him without getting payment up front is a fool who deserves what they're about to get

CileTheSane ,
@CileTheSane@lemmy.ca avatar

He plans on getting back into office by this summer?

Antarctic3823 ,

Considering jan 6, he has some history of trying such plans.

Pratai ,

I’m sure he can just keep selling his golden sneakers to launder rubles from Russia.

(Wow… we live in a world where that sentences makes sense)

Dkarma ,

Nah just another 500 NFTs

OldWoodFrame ,

That's the end of the article. He's selling $399 Trump-branded "never surrender" sneakers claiming it's "not political"

hydrospanner ,

It's not political...or at least it's more criminal than political.

zeppo , (edited )
@zeppo@lemmy.world avatar

Right. He claims everything else about him is political, like being prosecuted for crimes or civil offenses, but not the shoe selling though..

Bdtrngl ,

"never surrender" sneakers from the guy who checks notes surrendered.

disconnectikacio ,

He wont run out of money. Even if those idiots who support him run out of money, his comrade putin will help him out. Or even orban, who has piles of our money.

ripcord ,
@ripcord@lemmy.world avatar

Or some Saudi Arabian benefactor. Or...

1simpletailer ,
@1simpletailer@startrek.website avatar

Didn't Musk visit him right after the verdict?

ripcord ,
@ripcord@lemmy.world avatar

Did he, seriously?

1simpletailer ,
@1simpletailer@startrek.website avatar

As far as I know there's nothing official, but Musk's private jet flew into Palm Beach the day after the court ruling.

root_beer ,

Correction: Trump supporters will likely run out of legal defense funds by summer

Trump isn’t running out of anything, unless you count whatever hall leads to the bathroom, in which he won’t make it in time

OldWoodFrame ,

Correction of emphasis, Trump supporters will run out of funds in the summer. Then he'll shift to the RNC paying his legal bills. They already were, prior to when he declared as a candidate for 2024.

mintiefresh ,

It's tiring reading news about him still and there have been no consequences. I'm kind of just resigned to that fact that he might win the election anyways and all his problems will just go away.

OldWoodFrame ,

He just got fined $350+ million and banned from running his own company for 3 years. He just got hit with an $83 million judgement against him for sexually assaulting a woman.

The consequences have begun.

zeppo ,
@zeppo@lemmy.world avatar

Once he has to actually pay them vs appealing, I’ll believe it.

Thirdborne ,

He can't appeal without bonding the full amount and nobody was willing to bond the 5 million he got hit with last year. Looks a lot like he just has to put up the cash.

SpaceCowboy ,
@SpaceCowboy@lemmy.ca avatar

I can't see him doing this... he's going move money his money to somewhere he thinks the government can't get it and declare bankruptcy.

He's gonna go full Alex Jones.

Thirdborne ,

He has a monitor overseeing him. Too late for any shenanigans.

SpaceCowboy ,
@SpaceCowboy@lemmy.ca avatar

Right... forgot about that. But I feel like that just limits his shenanigans and hes got a lifetime of experience at shenanigans. I dunno really, but I'm not betting against Trump's crook skills.

Thirdborne ,

Regardless. He cannot appeal without putting up the money or a collateralized bond.

tigeruppercut ,
@tigeruppercut@lemmy.zip avatar

He's already had to put up $5.5 mil that he couldn't weasel out of.

Trump has already deposited $5 million owed to Carroll for the first defamation case into a court-controlled account, along with an additional $500,000 in interest required by New York law. Carroll will not have access to the funds until the appeals process plays out.

He may soon be forced to do the same for the $83.3 million judgment in the second Carroll verdict. Alternatively, he could secure a bond and pay only a portion up front — though that option would come with interest and fees and likely require some form of collateral. Trump would have to find a financial institution willing to front him the money.

https://apnews.com/article/trump-fraud-carroll-fines-82d423b8e7a7f9a32470729c5f4410e5

SpaceCowboy ,
@SpaceCowboy@lemmy.ca avatar

Yeah $5M for the publicity of an appeal which he'll likely lose, that he'll pay. When it's hundreds of millions, which he may not even have the full amount? He's gonna Alex Jones that shit.

stoly ,

There’s no appeal here. He has nothing to point to for procedural errors or unconstitutional laws. Plus he has to put up the money before he can do anything.

stoly ,

He lost his business empire and has to pay more than $450m. How is that not consequences?

laurelraven ,

He lost his ability to do business in one state, which likely just means he'll do it by proxy

And I wouldn't be a bit surprised if he weasels his way out of paying somehow

stoly ,

He won’t. Stop spreading misinformation.

laurelraven ,

What misinformation am I spreading? That I think something is or isn't going to happen?

I assure you that it is very accurate that I'm prepared to see him find some way to weasel out of this, and I'm not sure how you could possibly know whether or not I think the things I say I think.

Again: I'll believe it when it happens. Not before then. I'm done believing the right thing will happen when it comes to him since it so rarely has.

CileTheSane ,
@CileTheSane@lemmy.ca avatar

And I wouldn't be a bit surprised if he weasels his way out of paying somehow

He has a deadline of 30 days to pay, and in order to appeal he first has to put 110% of the amount owing in escrow.

laurelraven ,

I'll believe he'll pay when he pays. I see no reason to start thinking he's going to do what he's supposed to, required to, do when that's never been what he's done. I honestly doubt he'll give up that money until it's forcibly pulled from his accounts.

Maybe this time will be different and the rules will actually apply to him. Maybe this time Lucy won't pull that football back. Until that actually happens, forgive me if I'm sceptical that things are going to be different this time around.

doctorcrimson ,

The nice thing about this is he's using SuperPAC money that diverts from the RNC Campaign funding.

billwashere ,

I’m sure the gofundme will take up the slack…

DAMunzy ,

What's the vig? I hope it's high.

Kid_Thunder ,

Don't worry, he'll end up still having enough funds for a legal defence after the RNC is backrupt due to it. We will find out in 5 years or so that it turns out Russia backed his funds for legal defense and some loans or something. He'll say it was due to a 'great business deal because Russia are great business people, maybe the greatest' due to like a $500 million 'business' deal to put Trump's name on a random warehouse out in the middle of Siberia.

CileTheSane ,
@CileTheSane@lemmy.ca avatar

after the RNC is backrupt due to it

I consider this an absolute win.

Bluefalcon ,

Is there a law against using party donations on legal defense? If so, then I'll take "things he is charged with in Nov 2024."

hansl ,

There is, but it doesn’t cover PACs. He’s technically not been using campaign fund, but asking supporters to give for his campaign with some very specific fine print to say they’re actually giving the PAC to do as they please.

It’s shady but not illegal.

Bluefalcon ,

I guess the plus side of Trump being president before is all the loopholes the public have learned about. We are living in a very very failed democracy.

CosmicCleric ,
@CosmicCleric@lemmy.world avatar

We are living in a very very failed democracy.

Democracy really requires ethical people being voted into office, as we can't watch them 24/7 since we are busy with our own lives. Unfortunately we citizens don't seem to be able to do that very well.

DAMunzy ,

If he's asking for people to give to a PAC doesn't that shift from shady to illegal? I thought politicians had to be completely separate from the PAC.

CosmicCleric ,
@CosmicCleric@lemmy.world avatar

It’s shady but not illegal.

It can't help but think that should be used as a catchphrase for advertising purposes, by the political parties.

OhStopYellingAtMe ,
@OhStopYellingAtMe@lemmy.world avatar

No he won’t. He’ll fleece his cult and/or rob the coffers of his and/or the GOP campaign funds to cover his legal bills.

LEDZeppelin ,

Fortunately $399 sneaker grift has landed just in time

Evilcoleslaw , (edited )

Yes $400k will put a huge dent in this. As it's supposed to be a limited run of 1000, unless of course there's going to be more fraud involved.

Peer ,

The 399 sneakers were just to draw attention to his other sneakers that are more affordable on the same site. Those will presumably bring in the lion share of the money.

jkrtn ,

Donald's shoddy products are going to fuck up some spines.

Blackmist ,

Nah, most of the people buying them will be in mobility scooters.

cultsuperstar ,

And people starting gofundme's to help him with his legal bills lol.

veroxii ,

Huge sneaker orders coming out of Russia. Huuuuge!

Drusas ,

Good. Make him sell some property.

surewhynotlem ,

Make him sell some property.

Much easier for him to sell our democracy

MrPoopyButthole ,

Damn, even after his sick new sneaker line?

  • All
  • Subscribed
  • Moderated
  • Favorites
  • •
  • politics@lemmy.world
  • random
  • test
  • worldmews
  • mews
  • All magazines
    •