"Trump owes this money because he fraudulently misrepresented the value of his assets—and now (oops) apparently no one will accept those assets as collateral."

Less than a month after New York Attorney General Letitia James said she would be willing to seize former Republican President Donald Trump’s assets if he is unable to pay the $464 million required by last month’s judgment in his civil fraud case, Trump’s lawyers disclosed in court filings Monday that he had failed to secure a bond for the amount.

In the nearly 5,000-page filing, lawyers for Trump said it has proven a “practical impossibility” for Trump to secure a bond from any financial institutions in the state, as “about 30 surety companies” have refused to accept assets including real estate as collateral and have demanded cash and other liquid assets instead.

To get the institutions to agree to cover that $464 million judgment if Trump loses his appeal and fails to pay the state, he would have to pledge more than $550 million as collateral—“a sum he simply does not have,” reportedThe New York Times, despite his frequent boasting of his wealth and business prowess.

    • TehWorld@lemmy.world
      1·
      8 months ago

      I’ve used AI. I’ve had it make stuff up or put incorrect info into documents. I’m smart* and read through the document just like these lawyers will**. Saved me TONS of time vs just doing all the specific writing, scanning and summarizing. *citation required **smartness not withstanding

    • CheeseNoodle@lemmy.worldEnglish
      1·
      8 months ago

      There are specialized LLMs that (if the document is digitized) will actually cite their references within the data they’ve been given and provide direct links. It’d still need proof reading as someone would have to check those citations but it would still speed up the process immensley.