Sat. May 18th, 2024

New York AG Letitia James asks judge to void Trump’s bond in his civil fraud verdict

By 37ci3 Apr20,2024

New York Attorney General Letitia James on Friday asked a judge to disqualify the former president Donald Trump In a citizen fraud claim, he asks if the company is there given has the funds to support it.

In a 26-page filing ahead of Monday’s pre-scheduled hearing, James Knight expressed concern that Specialty Insurance Company would be able to secure the $175 million bond. He also claimed that the bail given by the former president should be under the full control of the company.

One of James’ concerns about KSIC is that the insurer is “not authorized to write business in New York and thus not regulated by the state insurance department.” He added that the company had “never previously written a surety bond in New York or any other jurisdiction in the previous two years and has a total policyholder surplus of $138 million.”

James also criticized Trump’s team’s apparent withholding of collateral to back the bond.

“KSIC does not now have the exclusive right to control the account and will not have such control until it exercises that right. with two days’ notice,” he wrote.

Neither Trump’s attorneys nor KSIC immediately responded to a request for comment.

Trump’s attorney, Alina Habba, said earlier in the former president’s bond hearing that she “looks forward to asserting her rights on appeal and overturning this unjust sentence.”

The new filing comes after James posted a notice earlier this month looking for more information on the former president’s bond. In that filing, he asked Trump’s attorneys or insurance company to “file a motion to substantiate the lien” within 10 days or provide additional information about Trump’s lien.

There was closure for Trump and his accusers reduced reduced by the state appeals court in March from $464 million to $175 million. It was Trump is responsible For $454 million, the vast majority of the original amount. The former president has repeatedly denounced the case against him and denied any wrongdoing.

James’ filing comes as Trump is in court in a New York criminal case he is facing 34 numbers accused of falsifying business records and, as a state appeals court judge, denied Trump’s request for an emergency adjournment. A jury has been seated in the case and arguments will begin Monday. Trump pleaded not guilty to all charges.

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By 37ci3

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