"According to former federal prosecutor Eric Lisann, Knight Specialty Insurance won't be allowed to post a $175 million bond for Donald Trump as he appeals a fraud judgment. This statement came in response to lawyer Dave Kingman's assertion that the insurance company wouldn't be able to secure the bond for Trump.
Kingman wrote that, as a result, New York Attorney General Letitia James will be able to begin enforcement proceedings on Donald Trump's properties.
A New York court has rejected Knight Specialty's paperwork and said it wanted to see more information on its financial backing. The company filed new paperwork on April 4.
Newsweek sought email comment from Knight Specialty Insurance and Trump's attorney on Monday.
Trump must post the $175 million bond to prevent James from beginning enforcement proceedings after a judge fined the former president $454 million in February for fraudulently inflating the value of his assets.
Writing on X, formerly Twitter, one-time federal prosecutor Lisann wrote that Knight Speciality might not be able to post the bond for Trump and will be liable for the full amount because it had given a guarantee to the court.
"Looks like there is a real possibility that this Don Hankey-owned Knight Specialty Insurance does not itself have liquidity, and did not get from Trump collateral, sufficient to provide legally cognizable assurance that it can pay $175 million on demand in the event of a judgment-affirming appeal," he said. . . .
No comments:
Post a Comment