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Anastasia Boushee

Letitia James Targeting Firm Backing Trump’s $175M Bond

Just as many conservatives predicted, New York Attorney General Letitia James is now targeting the firm that posted former president and presumptive GOP nominee Donald Trump’s $175 million bond in the outrageous civil fraud case against him.

Trump was found liable for fraud in the shocking case, despite never being allowed to defend himself. After Judge Arthur Engoron found Trump liable in a summary judgment without holding a trial, Trump was then put through court proceedings to determine the penalties for his supposed crimes.

The presumptive GOP nominee was forced to pay the bond in order to appeal the Democrat judge’s decision. However, he struggled to come up with the cash — as wealthy Americans like Trump have their finances tied up in the stock market, properties and other assets that are not easily liquidated. Trump ultimately obtained the funds thanks to Knight Specialty Insurance Company (KSIC).

James, who campaigned on prosecuting Trump by any means necessary, challenged the “sufficiency of the surety” from KSIC in a court filing on Thursday after a paperwork error initially caused Trump’s bond to be temporarily rejected by a New York court on Wednesday.

The New York attorney general was practically frothing at the mouth to seize Trump’s properties in the aftermath of the civil fraud judgment, excitedly discussing the possibilities after it was reported that Trump was unable to obtain the funds to pay his bond. Now that he found the cash, James is once again showing her desperation to bankrupt the former president.

In the filing, James demanded that KSIC provide documentation proving they are certified to operate in New York — asking a state appeals court to order the insurer to produce a “certificate of qualification” within ten days to prove that KSIC can pay Trump’s bond if his appeals fail.

She has attempted to justify these actions because of the paperwork error, where the initial bond filing was rejected because of missing documents — which included a current financial statement from KSIC and the name of the attorney-in-fact. Trump’s legal team resubmitted the correct paperwork early Thursday morning, though that did not dissuade James from her mission to target the former president.

According to the National Pulse, there is still an issue with the paperwork — with the outlet reporting that the “financial statement has drawn additional scrutiny as it only lists the assets for KSIC and not a related company, Knight Insurance Company LTD. New York insurance law limits the amount an insurer can underwrite on  a single bond to 10 percent of its total ‘capital and surplus.’ KSIC and Knight Insurance Company LTD together meet the capital requirement, but the filing doesn’t clarify if the latter is also underwriting the bond.”

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