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REUTERS/Brendan McDermid/Pool/File Photo
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Some major Republican donors were working together to help Donald Trump fund the original bond amount needed to cover his $454 million civil fraud judgment ahead of Monday’s deadline, three sources briefed on the matter told Reuters.
Billionaire hedge fund founder John Paulson was involved in the behind-the-scenes effort by donors concerned about Trump’s legal woes and looking to help provide money toward the bond, two of the sources told Reuters. Oil and gas magnate Harold Hamm was also involved, one of those sources said. Read more.
On Monday, Trump won a bid to delay the enforcement of the judgment if he posts a smaller $175 million bond within 10 days, but until that last-minute reprieve he appeared to be struggling to raise the original amount and risked having his properties seized.
Paulson did not immediately respond to requests for comment. Reached by phone and asked about his involvement, Hamm appeared to hang up. A spokesperson for Hamm did not respond to requests for comment.
Read more about what’s next for Trump.
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Texas Attorney General Ken Paxton has struck a deal to resolve securities fraud charges brought by state prosecutors nearly a decade ago, his lawyers said on Tuesday. Paxton, a Republican and ally of former President Donald Trump, was indicted in July 2015 on charges related to stock sales and compensation from the Texas technology firm Servergy. He also faced charges of acting as a securities agent without registering with the state. Click here for details about the settlement.
Paxton, a conservative firebrand, has been dogged by corruption allegations since taking office in 2014. Last fall, he overcame an impeachment attempt spurred on by accusations that he abused his power to protect a wealthy political donor.
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A new U.S. Supreme Court brief by the Georgia-Pacific spin-off Bestwall is a case study, writes Alison Frankel, in why appellate lawyers, with apologies to F. Scott Fitzgerald, are different from you and me. Bestwall, which was created as a vehicle for Georgia-Pacific’s liability from tens of thousands of asbestos claims, does not want the Supreme Court to entertain plaintiffs’ arguments about the validity of the so-called Texas two-step in bankruptcy. But what’s notable about Bestwall’s brief, Frankel says, is how thoroughly Bestwall’s lawyers at Jones Day have managed to suck all of the heat out of the debate.
Check out other recent pieces from our columnists: Alison Frankel and Jenna Greene
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