On Monday, former President Donald Trump posted a $175 million bond in New York, and he seemed to have a reprieve. However, New York Attorney General Letitia James is trying to kill the deal by questioning the reliability of the bond company.
According to CBS News, Bruce H. Lederman, an attorney who has filed many bonds in New York, claims the surety bond needs to include vital information typically included in those filings. These standard elements include documents related to power of attorney for the bond provider, Knight Specialty Insurance Company, a financial statement from the company, and a certificate of qualification from the Department of Financial Services.
James, who vowed to get Trump during her campaign, filed her concerns about the bond on Thursday after CBS published the story with material she could use.
An attorney expresses concerns, gives her ammo, and then she files. Sounds like a setup.
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 needs the certificate of qualification required by New York Insurance Law Section 1111.
The clerk’s office has asked Trump’s lawyers for corrections to the bond.
Knight Specialty is not licensed in New York to issue surety bonds, and Lederman noted the company’s absence from the Department of Financial Services database. However, the company contends it is nevertheless authorized to issue the bond.
CBS claims the company also does not appear to meet a restriction under New York insurance law barring companies from putting more than 10% of its capital at risk.
Amit Shah, the president of Knight Insurance, said the restriction does not apply. He said Knight has over $1 billion in equity.
“Knight Specialty Insurance Company is not a New York domestic insurer, and New York surplus lines insurance laws do not regulate the solvency of non-New York excess lines insurers,” he said. “So we don’t believe we need the 10% surplus.”
The billionaire behind Trump’s bond is Don Hankey, Knight Insurance’s chairman, who owns the subsidiary that wrote the bond. Hankey said that Trump used “cash” as collateral for the bond, a total of $175 million. Amit Shah said he has been approved to issue bonds in New York.
James appears to be using technicalities to get Trump, and the media is helping her.
AM Best gave Knight Surety an A- excellent rating.
She’s a rampant criminal.
And the hits keep coming. Everytime these leftists AA legal types go after Trump, they expose the fallacies behind their prosecutions of him. And his popularity continues to rise as do his chances of being elected back into the WH. Good.
Talk about a threat to our democracy! She needs to be physically “disappeared!”
Letitia James set Trump’s bail at the highest amount in NY history, the last contender being Michael Milken who stole millions, and whose bond was set at 250 million. At some point a court has to admit that even the bond reduction to 175 million is an indication of intent to defraud on James’ part. She should be jailed.
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Abuse of office should result in her being disbarred as a lawyer as well as imprisonment for misconduct. I look forward to full coverage of her trial and imprisonment and a full obituary.
Leticia needs to read Moby Dick. Quit chasing white (orange) whale. Doesn’t turn out well.
Yes, Ahab dies, not saying she will die or making threats, she’s just going to lose and probably not recover.
New York is a POS and this is all she has to do? She should be fired! Why doesn’t she prosecute some the illegals aliens committing crimes?
At this point if Trump wins a lot of dems are going to go to jail for real crimes with actual statutes passed by legislatures. 10s of thousands of dems could end up in jail and a Criminal RICO prosecution against the demontat party are on the table. That would literally wipe out the commies for decades and they think Trump would do it out of revenge because that is what they would do. I however think Trump wouldn’t do that, but should because putting the criminals in jail is how you stop this nonsense for decades. F the leftists. They are a minority. If Trump prosecutes them for their crimes and reverses all the commie failures nobody will give 2 cents about the criminals he prosecuted no matter how much the media screams Nazi. With a roaring economy and the voter fraud machine dismantled due to the prosecutions under RICO which would outlaw the communist Dem party, it will take decades for the communists to recover.
It’s not in the banks and insurance companies best interests to let her get away with the underhanded shenanigans. They will make sure her quest is of annul.
The WHOLE rotten lot of soros implants STINK!!!
Sorts and his ilk are a festering would on the backside of humanity.
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