New York Attorney General Letitia James is seeking to void the $175 million bond that former President Trump put forth in his civil fraud case relating to the valuation of his properties.
The Hill reported that James’ office argued in court filings on Friday that that the California-based Knight Specialty Insurance Company was a “small insurer that is not authorized to write business in New York” adding it had “never before written a surety bond in New York” prior to its support of Trump. The filings also insisted Trump and the co-defendants in his case did not proved they had “sufficiently secure and ascertainable” collateral to back the bond.
“Based on the foregoing, the People respectfully request that the Court deny Movants’ motion to justify the surety, declare the Bond to be without effect and order that any replacement bond be posted within seven days, along with such other and further relief the Court deems necessary and appropriate,” James’ office wrote in a 26-page filing. “Based on KSIC’s policyholder surplus in its most recent annual financial statement of $138,441,671, the limitation of loss on any one risk that KSIC is permitted to write is $13.8 million. The face amount of the bond exceeds this limitation by $161.2 million.”
A hearing will begin today to review James’ arguments. Trump will not be present because he is required to attend a simultaneous trial relating to payments to adult film performer Stormy Daniels.
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26 pages?
How about you put 1/4 of the time and effort into Ny crime ?! Waste of taxpayers money.
It appears evident that the entirety of this case against the former president is a clear attempt to dissuade him from running again, constituting what seems to be election interference at its peak. There are numerous pressing issues in New York that warrant attention, far beyond targeting a businessman who has contributed significantly to the city and state through tax revenue over the years. Consider the scenario if an Attorney General or District Attorney were to pursue charges against ordinary American citizens; the disparity in resources would leave us at a severe disadvantage.
According to Colbert this is a season to celebrate. “Folks, forget the old saying ‘April showers brings may flowers,’ ’cause from now on, it’s ‘April trials bring me smiles.’
Apparently it is not yet apparent to all American voters that the Biden administration and their cohorts are attempting to overthrow the American Justice system. How can even 38% of Americans still believe that Trump will overthrow the government when it is the Biden administration already trying to do so?
This bond for Trump’s trial was required before Trump could appeal the lower court’s finding. Without harm, Trump somehow owes the State of New York a few million dollars is ridiculous on its face. In a criminal case the judge would not be able to disallow a jury, as the judge in this case did. In a Civil case actual harm must be proved. There is no harm here. Are we now admitting there is a third, never before established type of law called Political Law?
This is all election interference and should be condemned not celebrated.