USALife.info / NEWS / 2024 / 04 / 04 / TRUMP'S $175 MILLION CIVIL FRAUD BOND UNDER SCRUTINY IN NEW YORK
 NEWS   TOP   TAGS   ARCHIVE   TODAY   ES 

Trump's $175 million civil fraud bond under scrutiny in New York

15:06 04.04.2024

The New York attorney general's office has raised concerns over the $175 million bond that former President Donald Trump recently posted in his civil fraud case. The bond, provided by Knight Specialty Insurance Company, owned by billionaire Don Hankey, is meant to serve as a financial guarantee while Trump appeals a $454 million judgment. Without the bond, New York Attorney General Letitia James could have frozen Trump's assets. However, experts have pointed out that the bond filing is missing crucial information, such as a certificate of solvency from the Department of Financial Services. Knight Specialty Insurance Company is not listed on New York's Department of Financial Services website, raising questions about its legitimacy. Despite claims from Knight's president, Amit Shah, that the company is authorized to issue bonds in New York through the Excess Line Association of New York, concerns remain about the company's compliance with state laws. Additionally, there are doubts about whether Knight Specialty Insurance Company has the financial capacity to cover the $175 million bond if Trump loses his appeal. Legal experts are calling for further investigation by the attorney general's office to ensure the bond is valid under New York law. The New York Attorney General's office has declined to comment on the matter.

/ Thursday, April 4, 2024, 3:06 PM /

themes:  Donald Trump  New York (state)

VIEWS: 192


08/05/2024    info@usalife.info
All rights to the materials belong to the sources indicated under the heading of each news and their authors.
RSS