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submitted 6 months ago by MicroWave@lemmy.world to c/news@lemmy.world

Letitia James contended the bond company may not have enough resources to pay.

Lawyers for the New York Attorney General asked Judge Arthur Engoron on Friday to reject former President Donald Trump's $175 million bond for his civil judgment and require him to post a new one within seven days.

Letitia James contended that the former president failed to demonstrate that Knight Specialty Insurance Company, the company behind his bond, had the resources to pay the bond if Trump's appeal failed.

In February, Engoron determined that Trump and his co-defendants engaged in a decade-long scheme to inflate the former president's net worth to get better business deals and interest rates on loans.

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[-] HejMedDig@feddit.dk 50 points 6 months ago

I just wonder how that bond got accepted in the first place

[-] FlyingSquid@lemmy.world 37 points 6 months ago

It absolutely should not have been. It's not a New York company.

[-] FenrirIII@lemmy.world 28 points 6 months ago

It's all the grift. Everyone is so afraid of the orange turd's followers that they bend/break the rules for him.

[-] KreekyBonez@lemmy.world 22 points 6 months ago

there's a word for that... terrorism.

also follows with their sense of extreme conservatism, religious fundamentalism, and anti-globalism/hyper nationalism

[-] Bassman1805@lemmy.world 24 points 6 months ago

As far as in aware, not being a NY company isn't the issue, it's the fact that they have no evidence they can actually pay the full amount in the event that Trump doesn't follow through with his obligations for the bond.

[-] FlyingSquid@lemmy.world 20 points 6 months ago

It is part of the issue.

James took "exception to the sufficiency of the surety" given by Trump and the other defendants. She objected to the fact that the bond was issued by a company that is not an admitted carrier in New York, and lacks the certificate of qualification required by New York Insurance Law Section 1111.

https://www.cbsnews.com/news/donald-trump-175-million-civil-fraud-bond-valid-new-york/

[-] Corkyskog@sh.itjust.works 7 points 6 months ago

That doesn't say they have to be a NY company, they just lack the correct licensing to issue in NY. Which seems problematic

[-] bradorsomething@ttrpg.network 3 points 6 months ago

The surety question is the main issue. The language seems to say that if trump loses, he has to pay and they don’t. Which isn’t a bond.

[-] Empricorn@feddit.nl 3 points 6 months ago

Also, he still has access to the funds in the bond! So it's not actually guaranteed.

[-] MNByChoice@midwest.social 26 points 6 months ago* (last edited 6 months ago)

I believe only the paperwork has been received, the bond has not been "accepted". This filing is pushing to not accept it.

It has effectively paused some clocks in this particular case, but that gets beyond me.

Edit: on mobile, fixed a typo. "Gets" had been "geys".

[-] FanBlade@lemmynsfw.com 2 points 6 months ago

Is “geys beyond me” the new “streets ahead”?

[-] MNByChoice@midwest.social 3 points 6 months ago

And I am certain it will catch on just as much.

[-] bradorsomething@ttrpg.network 3 points 6 months ago

It geys beyond me how quickly slang terms are created nowadays.

[-] HejMedDig@feddit.dk 2 points 6 months ago

Ahh... That makes sense

[-] disguy_ovahea@lemmy.world 10 points 6 months ago* (last edited 6 months ago)

It hasn’t been accepted yet. It was posted on April 1st, without the required surety. Engoran is scheduled to make his decision on Monday. This is just the AG’s assessment and recommendation.

[-] jkrtn@lemmy.ml 44 points 6 months ago

Seven more days, are you fucking kidding me? Doesn't meet the deadline, 10 more days and a lower requirement. Obviously fraudulent bond, 7 more days.

If any of us had lost a lawsuit from any state, our accounts would be drained and assets seized after failing the first deadline.

[-] Yawweee877h444@lemmy.world 21 points 6 months ago

It's a big club, and you ain't in it.

[-] Teon@kbin.social 37 points 6 months ago

4/22 will be a very bad day for the trumpster. They will reject that bond and he is screwed. Plus the criminal trial starts fully that he must attend.

[-] FlyingSquid@lemmy.world 33 points 6 months ago

Plus the criminal trial starts fully that he must attend.

But no one says he has to be awake for it!

[-] SupraMario@lemmy.world 18 points 6 months ago

You have more faith in our system than I do then, cause so far dude has been just allowed to make a complete mockery of our system.

[-] Yawweee877h444@lemmy.world 13 points 6 months ago

How many times will they just keep letting him slide? I'll actually be way more surprised if he suffers any real repercussions.

[-] root_beer@midwest.social 6 points 6 months ago

All of the times. Every single one of the times.

I swear, I need to stop reading any article about how he’s going to get his comeuppance because they’ve all been treating him with kid gloves. At least the juror pool in the fraud trial got to give him the dunking-on that he deserves at the very minimum, and hopefully we’ll see at least a shrewd of actual justice there.

[-] ChowJeeBai@lemmy.world 37 points 6 months ago

Do it. And fine him for contempt and criminal misdirection.

[-] Jimmycakes@lemmy.world 22 points 6 months ago

Then lock him up instead of holding press conferences about it

[-] mikezane@lemmy.world 11 points 6 months ago

It's a civil trial. This trial is the state of New York suing Trump. The only way he could end up in prison for this is if the United States brought back debtor prisons.

If they do not allow the bond, the attorney general could start taking Trump's property away.

[-] SkyezOpen@lemmy.world 6 points 6 months ago

if the United States brought back debtor prisons.

Are we not making it illegal to be homeless?

[-] FenrirIII@lemmy.world 21 points 6 months ago

Don Hankey, the chairman of Knight Insurance Group, declined to comment on the matter.

Also known as pleading the 5th

[-] Silentiea@lemmy.blahaj.zone 18 points 6 months ago

I mean let's not conflate not testifying with being guilty, that's the whole point of the fifth.

[-] Madison420@lemmy.world 15 points 6 months ago

Very true, what's Trump's position on taking the fifth? Iirc its both "guilty people plead the fifth" and "on advice of counsel I plead the fifth".

[-] SkyezOpen@lemmy.world 3 points 6 months ago

Well, not relevant because that guy isn't on trial, but in civil trials you CAN make an adverse inference from someone pleading the 5th.

[-] jkrtn@lemmy.ml 3 points 6 months ago

Actually, let's go ahead and conflate it, since we aren't representatives of the government and this guy is obviously shady.

this post was submitted on 20 Apr 2024
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