A former federal prosecutor, Eric Lisann said, “Knight Specialty Insurance won’t be allowed to issue a $175,000,000 Bond for Donald Trump until he can appeal against a fraud judgment.” The statement was made to Dave Kingman who claimed that the insurance company wouldn’t be able to secure the bond in Donald Trump’s name.
Newsweek explains:
Kingman wrote: “As a consequence, New York Attorney General Letitia James will be able to begin enforcement procedures at Donald Trump’s properties. ”
Knight Specialty was denied court approval by a New York court because it wanted to know more about the company’s financial support. On April 4th, the company submitted new documentation.
Newsweek contacted Knight Specialty Insurance and Trump’s attorney on Monday for comment.
Trump must pay a $175,000,000 bond to James for him not to launch enforcement proceedings. A judge fined him 454 million dollars for fraudulently inflating his assets.
Lisann a former federal prosecutor wrote on X, formerly Twitter, that Knight Speciality might not be able to post the bond, and Trump would be liable for the full amount since it had given a court guarantee.
He said: “It seems that there’s a chance that Knight Specialty Insurance owned by Don Hankey does not have sufficient liquidity and that Trump has not provided collateral to give legal cognizable guarantees that it can pay $175,000,000 upon demand in the event of an affirmative judgment appeal. ”
Trump submitted a $175,000,000 bail on April 1, to stop Letitia James, the New York Attorney-General, from seizing Trump’s assets while he appealed against a civil defraud decision. However, the court’s filing system rejected the bond shortly after because it was missing documents, including a current financial statement. James later questioned the bond’s adequacy and noted that Knight Specialty Insurance Company was not authorized in New York. KSIC is therefore ineligible to receive a Certificate of Qualification from the Department of Financial Services.
Last week, Frank Luntz warned Democrats that Trump’s chances to win the 2024 presidential election would be significantly increased if New York Attorney General Letitia James seized Trump’s assets.
“I want you to remember this moment,” he said during a panel discussion on CNN. “And don’t forget it. If the New York Attorney General starts to take his homes away and seize his assets, it’s all going to be on camera. Pundits are going to sit there and scream about this. ‘This man cannot be elected.’ You’re going to create the greatest victimhood of 2024, and you’re going to elect Donald Trump.”
Luntz said, “If they take his stuff, then he will say this is proof of the conspiracy between the federal government and the swamp in Washington and the attorneys general across the country. He will rise in the polls, as he always has when they indict him”
