Posted on 04/07/2024 12:46:31 PM PDT by bitt
New York Attorney General Letitia James is now questioning the financial status and regulatory compliance of the insurer that posted former President Donald Trump’s $175 million bond stemming from her civil fraud prosecution against him. In a court filing on Thursday, James challenged the “sufficiency of the surety” provided by Knight Specialty Insurance Company (KSIC) after a paperwork error resulted in Trump’s bond being temporarily rejected by a New York court the day before.According to the filing, the New York Attorney General wants KSIC to provide documentation proving their certification to operate in the state. James is asking a state appeals court to order KSIC to produce a “certificate of qualification” within ten days with proof that the company can pay the bond if Trump’s appeals are unsuccessful.
The move by James comes after the initial bond filing on Wednesday was rejected due to missing documents — including a current financial statement from KSIC and the name of his attorney-in-fact. Attorneys for former President Trump resubmitted the corrected paperwork early Thursday.However, the financial statement has drawn additional scrutiny as it only lists the assets for KSIC and not a related company, Knight Insurance Company LTD. New York insurance law limits the amount an insurer can underwrite on a single bond to 10 percent of its total “capital and surplus.” KSIC and Knight Insurance Company LTD together meet the capital requirement, but the filing doesn’t clarify if the latter is also underwriting the bond.
2024 will feature America’s “Red October”
These and their shock troops will do anything to prevent a legitimate election in November
She is out of control. What does it take for someone with the power, to rein her in. This is absurd. Where are the abuse of power charges?
How can you be so sure ny are not making up the rules as they go?
When do we find out about the skeletons in her closet, bet she got some
Ain’t Communist Dictatorships wonderful.
Don’t worry these communist prosecutors are only going after Trump, that is until they decide to go after you and your business.
Dont know; I moved to Texas so I’d never have to even see a roadsign for that abominable cesspool ever again!
“I think she must have known to study the regulations before the paperwork hit her desk. I bet she read through everything those additional ten days.”
She didn’t read anything paid someone else to do it. I can’t read the original post too many pop ups but I suspect she is just nit picking on any possible thing. Bond will hold up.
They are now making an enemy of a Cali billionaire guy. Other’s will take notice and avoid NY.
Right this reminds me of a cop who said he could find a way to stop anybody after following them for a mile.
The paperwork on that bond would be virtually identical to that of a more normal bond, except that it would have a few more zeros in the amount. So, there really is no excuse for this not having been done the right way. That’s what this company supposedly does for a living, you would think they would have the process down pat.
“ Where the Hell is the Supreme Court??”
——————
It doesn’t work that way. The Supreme Court can only hear an actual case or controversy brought before it, after the case having gone through other levels of the federal courts. Note that this case is in New York State Court, it hasn’t even touched the federal system. There is a legal process in this country, though it tends to be very slow and expensive. I would expect that if Trump loses in the New York Court of Appeals (their highest court), he will appeal to federal court on Eighth Amendment grounds, as this is clearly an excessive fine. There are also plenty of arguments on due process grounds. Trump is trying to fight this in state court, the way he should be, rather than going directly to federal court. In any case, Supreme Court would not get to this issue, even if it wanted to, for several more years.
“Trump sues NY for about $3 billion and wins.”
Why only 3 billion?
I’d sue her and the judge for everything they have.... Money, property, the clothes off their backs... Everything. AND sue the state into bankruptcy.
She is wrong about that.
Tempting fate may not be a good idea, seeing how she is on the wrong side of the gods.
This is a court issue now, of for the DA to have an isssue with. Someone said above this which has stumbled into 18USC 242 status. As such she is prosecutable. Unfortunately the judicial district would be in NY.
The Fascist’s aren’t satisfied with trying to destroy individuals who they disagree with, no, they want to also destroy those who associate with or who support their them. So, they go after the John Eastmans, the Peter Navarros, the Lindells, and a host of others. By doing so, they want to send a message to anyone who may consider supporting their arch enemies that they too will become targets for personal and financial ruination. That’s why James is going after Trump’s bonding company. Even though it’s baseless, they will weaponize the government to financially hurt these individuals and entities because they know no body will hold them accountable
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