New York Attorney General Letitia James has raised concerns regarding the adequacy of a $175 million bond posted by former President Donald Trump, following a civil trial where he was found liable for inflating his wealth by 200% to 3300%. The bond, meant to cover potential damages, was issued by California-based Knight Specialty Insurance Co., which James argues may not meet New York's legal standards for such a financial commitment. This challenge comes after an appeals court reduced the bond from an initial $454 million to $175 million. The insurer's ability to cover the bond is under scrutiny, with doubts about its financial capacity and authorization to operate in New York, especially as they are taking on a risk illegally by 1260%. Additionally, Trump's team failed to prove the trustworthiness and competence in managing the bond.
Never ending harassment NY AG Letitia James asks judge to void Trump's $175M bond in civil fraud case “bond was posted by California-based Knight Specialty Insurance Co, but James argued that the insurer was "not authorized" to write business in NY” https://t.co/YcCaNVv5hj
Letitia James contended the former president failed to demonstrate that the company behind his bond had the resources to pay it if his appeal failed. https://t.co/z8YSMW8CjD
Trump’s team failed to prove that the management of the bond met the “requirements of trustworthiness and competence,” the AG’s office wrote. https://t.co/MysTmVpwYV
The New York AG's office said it has doubts about a California insurer's ability to cover a $175 million bond imposed on Donald Trump after a civil trial in which he was found responsible for conspiring to inflate his wealth for financial gain. https://t.co/aVYGEYNaRR
Letitia James tried to force Trump to pay a $454 million bond. An appeals court said that was LUDICROUS and lowered the amount to $175 million. Trump posted the $175 million bond. Now Letitia is asking the judge to REJECT it. This woman’s vengeance to take down Trump and…
Trump lost a $464M case because he fraudulently overvalued his properties -- from 200% to 3300% Then for the bond, he found an insurer that is illegally taking on a risk far higher than they're allowed to under NY law -- by 1260% Trump literally found the Trump of insurance
Former President Donald Trump allegedly made false statements regarding a $50M loan tied to his Chicago skyscraper https://t.co/h70t0HjSNS
BREAKING NEW YORK AG LETITIA SAYING TRUMP $175 BOND IS NOT PROPERLY BACKED SO WILL BE VOIDED.
Letitia James faces new lawsuit and a Trump judge is deciding it https://t.co/R95cvWXiY7 https://t.co/G8Eh0UlMqd