The New York Attorney General's Office has rejected Donald Trump's request to drop a $480 million civil fraud case, arguing that it does not impede his presidential duties. Trump's lawyer claimed the case's continuation harms national unity and his ability to govern, but the AG's office dismissed these arguments, stating that civil litigation does not violate constitutional duties. The case, which accuses Trump of inflating his assets, is currently on appeal after a judge ordered him to pay significant fines.
New York Attorney General Letitia James opposes the surety company holding Donald Trump's $175 million bond in the civil fraud case, citing concerns about the company's financials and Trump's control over the collateral. The attorney general argues that the bondholder, Knight Specialty Insurance company, falls short on several requirements for a surety bondholder and requests the court to require Trump to come up with a replacement within seven days of its ruling on the matter.
New York Attorney General Letitia James has asked a judge to void former President Donald Trump's $175 million bond in his civil fraud case, expressing concerns about the company's ability to secure the bond and criticizing Trump's team's apparent hold on the collateral. The filing comes as Trump faces a New York criminal hush money case and a state appeals court judge rejected his request for an emergency stay of the trial.
The firm that posted a $175 million bond for Donald Trump defended the deal in a court filing, asserting that it is adequately secured by the former president's cash. New York Attorney General Letitia James had raised concerns about the arrangement, including the licensing of the bond company. The filing also revealed that the bond is backed by Trump's Charles Schwab brokerage account and argued that the bond company is properly licensed. However, some experts believe that the filing may not have fully addressed all of James's concerns, and a court hearing is set to examine the matter further.
Donald Trump posted a $175 million bond for his civil fraud case, but New York Attorney General Letitia James is questioning the surety backing the bond. If Trump or the surety cannot prove they are good for the bond by Monday, the bond will be declared "without effect" and James can begin seizing Trump's assets to cover the judgment. The company backing the bond, Knight Specialty Insurance Company, does not seem to have the financial capacity to guarantee the bond, raising doubts about Trump's ability to avoid asset seizure.
New York Attorney Letitia James faces potential concerns over the sufficiency of the $175 million bond posted by Donald Trump in her civil fraud case, as a report reveals a line in the agreement that may leave her in the same position as before Trump secured the bond if he loses the appeal. Questions have been raised about the insurance company's ability to pay the bond, with James's office expressing doubt about its sufficiency and the bond being rejected by a court for lacking a current financial statement.
New York Attorney General Letitia James has raised "reasonable questions" about Donald Trump's $175 million bond in his civil fraud case, particularly regarding the sufficiency of the bond and the collateral provided. Legal analyst Lisa Rubin discussed conflicting statements about the collateral and the bond underwriter's shock at James' scrutiny. The court has scheduled a hearing to discuss details of the bond, and James' office has pressed for justification of the bond, potentially requiring disclosure of additional collateral information.
A new report from ProPublica suggests that former President Donald Trump's legal team may have failed to inform a New York court that he could have secured a $464 million bond before it was reduced to $175 million in his civil fraud case. Despite claiming it would have been practically impossible to obtain the higher amount, a billionaire lender had expressed willingness to provide the full bond and use real estate as collateral. The lawyers allegedly did not file paperwork alerting the appeals court about this development, potentially violating ethics rules. Ultimately, the appellate court ruled in Trump's favor, lowering the bond to $175 million, and the billionaire lender ended up providing the bond for the reduced amount.
New York Attorney General Letitia James "stunned" former President Donald Trump after his $175 million bond was rejected in his civil fraud case, leading to a new hearing with Judge Engoron. Mary Trump commented on the rejected bond, emphasizing the spotlight on the financial capabilities of the surety company chosen by Trump. James also sought confirmation to communicate with the overseer of The Trump Organization's finances, Barbara Jones, without Trump's lawyers being present.
Former President Donald Trump's lawyers told a New York court that it was impossible to obtain a bond for the full amount of a civil fraud case judgment, but a billionaire lender later offered to provide the bond. The lawyers did not inform the court of this development, potentially violating ethics rules. The court ultimately lowered the bond to $175 million, and the lender provided the bond for that amount. Legal ethics experts suggest that Trump's lawyers may have had an obligation to update the court about the new bond offer. The case involves allegations of fraudulently inflating net worth, and the New York attorney general has requested proof of the lender's financial means to fulfill the bond.
New York Attorney General Letitia James has raised concerns about the $175 million bond provided by Knight Specialty Insurance Company for Donald Trump's civil fraud case, questioning if it meets legal requirements. The company's qualification to provide the bond is being challenged, and a hearing on the issue is scheduled for April 22. Trump and his co-defendants were originally required to post $464 million to shield their assets during the appeal, but a New York appeals court reduced the amount to $175 million. Trump is personally liable for nearly the entire judgment of about $454 million imposed by the court.
New York Attorney General Letitia James seeks more information about former President Donald Trump's bond for the civil fraud case, issued by Knight Specialty Insurance Company, as KSIC is not admitted in New York. James requests Trump's team or KSIC to justify the surety bond or provide further information about collateral within 10 days. The $175 million bond was fully collateralized by cash from Trump’s company, and a bond hearing for the civil fraud trial is scheduled for April 22.
New York state is demanding more information on the $175 million appeal bond posted by former President Donald Trump to block the collection of a civil fraud judgment. State Attorney General Letitia James has called for justification of the bond's bona fides, seeking more details on the collateral provided and the underwriter's ability to fulfill it. Trump's lawyer criticized the move as a "baseless public quarrel," while the attorney general's office filed notice of exception to the sufficiency of the bond. The bond, aimed at halting enforcement of the judgment during Trump's appeal, has faced procedural hurdles and scrutiny over its financial backing.
New York state is demanding more information on the $175 million appeal bond posted by former President Donald Trump to block the collection of a civil fraud judgment. State Attorney General Letitia James' office has called for Trump's lawyers or the bond underwriter to justify the bond's bona fides, seeking more information on the collateral provided. Trump's lawyer criticized the move as a "baseless public quarrel," while the underwriter, Knight Specialty Insurance Co., provided financial statements showing its assets. The bond aims to halt enforcement of the judgment during Trump's appeal, but the state is seeking assurance of the underwriter's financial soundness.
New York Attorney General Letitia James has objected to the $175 million bond posted by Donald Trump in his civil fraud case, questioning the qualifications of the California company, Knight Specialty Insurance Company, that provided the guarantee. The dispute arises from a $454 million judgment against Trump, with James raising concerns about the company's credentials and its owner's background in subprime loans.
