All articles tagged with #surety bond
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.
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.
Former President Donald Trump posted a $175 million bond in a civil fraud case in New York, but experts have raised concerns about the validity of the bond. The bond, provided by Knight Specialty Insurance Company, is missing crucial information and the company is not listed on New York's Department of Financial Services website. Questions have been raised about the company's licensing and financial solvency, as well as its compliance with New York insurance laws. The New York Supreme Court clerk's office has requested corrections to the bond filing, and there are calls for an investigation by the New York Attorney General's office to determine the bond's validity.
Donald Trump faces a financial crisis as he struggles to secure a $464m bond after losing a civil fraud trial in New York, with 30 companies unwilling to help. His legal team is seeking to block enforcement while he appeals, but the companies are hesitant due to the large bond size and risk associated with his properties. New York Attorney General Letitia James is prepared to target his assets to collect the $464m judgment, and Trump's legal battles raise questions about his finances and fundraising efforts for his legal fees and potential presidential campaign.