Mark Cuban defends Trump after Dem Rep. Ted Lieu accused Trump of being too bankrupt to pay the $464 million.

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By journalsofus.com


Politics


Mark Cuban defended Donald Trump on Tuesday after a Democratic lawmaker accused the former president of lying about his wealth.

Representative Ted Lieu (D-Calif.) used the hashtag “TrumpIsBroke” in a post on Twitter after lawyers for the former president told a New York court that the 77-year-old was unable to secure a nine-figure bond amount in his civil Failed. Case of fraud despite contacting more than 30 firms.

Trump claims he is a billionaire. But he can’t pay the $464 million. This means he is lying. How will I know? Mathematic,” Liu wrote,

Liu accused Trump of lying about his net worth. Brian Olin Dozier/Nurfoto/Shutterstock

A Cuban billionaire entrepreneur and former “Shark Tank” host came to Trump’s defense in a lengthy response to the Democratic congressman, arguing that “net worth is completely different from cash in the bank.”

“Ted, you know I’m not a Trump supporter. That’s for sure,” Cuban, 65, started my post, “How anyone can vote for someone who has so many of his executive staffers against him, and say he is incompetent, is beyond me.”

“But you’re wrong on the subject, Ted.”

Cuban said that in a “zero interest rate environment” it would have been “foolish” for Trump to keep his cash in a bank or money market account.

“It was foolish to keep interest rates so low for so long. “Trump asked for something else,” the minority owner of the Dallas Mavericks claimed.

“So you can debate that [Trump] Put himself in this position by making sure that the only way to increase his net worth was through non-cash investments. You could also argue that Trump had an interest in increasing his net worth which is why he put himself in this position by lying to banks about his assets,” Cuban continued. “There’s only one reason to lie on a loan application – you have to lie.”

Cuban argued that it would be unreasonable to expect Trump to liquidate 45% of his assets. getty images

The founder of Cost Plus Drugs said that “few people hold more than 45 percent of their assets liquid”, and it would be impossible to use Trump’s illiquid commercial real estate and foreign assets as collateral.

Cuban argued, “No bond company is making loans against them in this commercial real estate market.”

His lawyers said in a court filing that Trump has refused to sell his properties to pay the bond in his civil fraud judgment because such a fire sale would result in massive losses.

Trump’s lawyers informed a Manhattan court on Tuesday that the former president has been unable to obtain bond for a $454 civil fraud judgment against him. getty images

Earlier this month, Cuban revealed that he voted for former South Carolina Governor Nikki Haley over Trump in the Texas GOP presidential primary and that he plans to vote for President Biden in November .

“If they were doing his farewell, and it was him versus Trump, and he was being cremated, I would still vote for Joe Biden,” Cuban told Bloomberg News.





https://nypost.com/2024/03/19/us-news/mark-cuban-defends-trump-after-dem-rep-ted-lieu-accused-hid-of-being-too-broke-to- payment-464-million-decision/?utm_source=url_sitebuttons&utm_medium=site%20buttons&utm_campaign=site%20buttons

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