Letitia James contended the bond company may not have enough resources to pay.
Lawyers for the New York Attorney General asked Judge Arthur Engoron on Friday to reject former President Donald Trump’s $175 million bond for his civil judgment and require him to post a new one within seven days.
Letitia James contended that the former president failed to demonstrate that Knight Specialty Insurance Company, the company behind his bond, had the resources to pay the bond if Trump’s appeal failed.
…
In February, Engoron determined that Trump and his co-defendants engaged in a decade-long scheme to inflate the former president’s net worth to get better business deals and interest rates on loans.
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I just wonder how that bond got accepted in the first place
It absolutely should not have been. It’s not a New York company.
It’s all the grift. Everyone is so afraid of the orange turd’s followers that they bend/break the rules for him.
there’s a word for that… terrorism.
also follows with their sense of extreme conservatism, religious fundamentalism, and anti-globalism/hyper nationalism
As far as in aware, not being a NY company isn’t the issue, it’s the fact that they have no evidence they can actually pay the full amount in the event that Trump doesn’t follow through with his obligations for the bond.
It is part of the issue.
James took “exception to the sufficiency of the surety” given by Trump and the other defendants. She objected to the fact that the bond was issued by a company that is not an admitted carrier in New York, and lacks the certificate of qualification required by New York Insurance Law Section 1111.
https://www.cbsnews.com/news/donald-trump-175-million-civil-fraud-bond-valid-new-york/
That doesn’t say they have to be a NY company, they just lack the correct licensing to issue in NY. Which seems problematic
The surety question is the main issue. The language seems to say that if trump loses, he has to pay and they don’t. Which isn’t a bond.
Also, he still has access to the funds in the bond! So it’s not actually guaranteed.
I believe only the paperwork has been received, the bond has not been “accepted”. This filing is pushing to not accept it.
It has effectively paused some clocks in this particular case, but that gets beyond me.
Edit: on mobile, fixed a typo. “Gets” had been “geys”.
Ahh… That makes sense
Is “geys beyond me” the new “streets ahead”?
And I am certain it will catch on just as much.
It geys beyond me how quickly slang terms are created nowadays.
It hasn’t been accepted yet. It was posted on April 1st, without the required surety. Engoran is scheduled to make his decision on Monday. This is just the AG’s assessment and recommendation.
Seven more days, are you fucking kidding me? Doesn’t meet the deadline, 10 more days and a lower requirement. Obviously fraudulent bond, 7 more days.
If any of us had lost a lawsuit from any state, our accounts would be drained and assets seized after failing the first deadline.
It’s a big club, and you ain’t in it.
4/22 will be a very bad day for the trumpster. They will reject that bond and he is screwed. Plus the criminal trial starts fully that he must attend.
Plus the criminal trial starts fully that he must attend.
But no one says he has to be awake for it!
You have more faith in our system than I do then, cause so far dude has been just allowed to make a complete mockery of our system.
How many times will they just keep letting him slide? I’ll actually be way more surprised if he suffers any real repercussions.
All of the times. Every single one of the times.
I swear, I need to stop reading any article about how he’s going to get his comeuppance because they’ve all been treating him with kid gloves. At least the juror pool in the fraud trial got to give him the dunking-on that he deserves at the very minimum, and hopefully we’ll see at least a shrewd of actual justice there.
Do it. And fine him for contempt and criminal misdirection.
Then lock him up instead of holding press conferences about it
It’s a civil trial. This trial is the state of New York suing Trump. The only way he could end up in prison for this is if the United States brought back debtor prisons.
If they do not allow the bond, the attorney general could start taking Trump’s property away.
if the United States brought back debtor prisons.
Are we not making it illegal to be homeless?
Don Hankey, the chairman of Knight Insurance Group, declined to comment on the matter.
Also known as pleading the 5th
I mean let’s not conflate not testifying with being guilty, that’s the whole point of the fifth.
Very true, what’s Trump’s position on taking the fifth? Iirc its both “guilty people plead the fifth” and “on advice of counsel I plead the fifth”.
Well, not relevant because that guy isn’t on trial, but in civil trials you CAN make an adverse inference from someone pleading the 5th.
Actually, let’s go ahead and conflate it, since we aren’t representatives of the government and this guy is obviously shady.
