New York Attorney General Letitia James, who is “out to get Trump,” asked her buddy and fellow commie Judge Arthur Engoron to void Donald Trump’s $175 million bond, which was posted by a surety company, and wants the former president to post a new bond that has sufficient collateral and questions the firm’s credibility.
The company that James scrutinized, Knight Specialty Insurance Company, posted a $175 million bond in April on behalf of President Trump. This move allowed Trump to halt the New York Attorney General’s attempt to seize his properties and assets after Judge Engoron ordered him to pay a hefty $464 million for allegedly inflating asset values to acquire better loan terms with banks.
The leftist attorney general initially questioned the insurance company’s capacity to cover the bond if Trump lost his appeal. Trump asserted that the KSIC is well-capitalized, but the attorney general continued to raise her opposition, leading her to file a motion with New York Supreme Court Justice Engoron to void the bond and order the Republican presumptive nominee to replace it within seven days.
State prosecutors argued that Trump and his co-defendants failed to prove that KSIC had the money to back it.
“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,” according to James’ lawyers.
James and her lawyers continue to attack KSIC, describing it as a “small insurer that is not authorized to write business in New York” and has not secured any surety bond in New York before Trump.
However, Trump’s counsel had already pointed out that there’s no legal requirement for a surety company to be an “admitted carrier” in New York to post the bond.
They also managed to present that the company is well-capitalized. KSIC has $539 million in assets and $138 million in equity, plus access to over $2 billion in assets and $1 billion in equity.
Furthermore, Trump’s lawyer hit James for weaponizing her authority to attack the former president.
“After hiding out in silence following an embarrassing loss in the First Department, which does not bode well for the future of her baseless and vindictive political crusade, the Attorney General now seeks to stir up some equally baseless public quarrel in a desperate effort to regain relevance,” said Chris Kise, Trump’s lawyer.
Judge Engoron scheduled a hearing for April 22 to tackle the motion filed by the attorney general.
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Author: The Raging Patriot
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