New York Democrat Attorney General Letitia James is not about to let Donald Trump catch any breaks.
James is back in court and going after Trump.
And all hell broke loose when Letitia James hit Donald Trump with this sneak attack.
James got her fellow Democrat Judge Arthur Engoron to hit Trump with a $464 million bond to cover the appeal of her civil fraud judgment.
Engoron ruled that Trump committed fraud against literally nobody by inflating the value of his assets as no bank lost money lending to Trump and executives testified they wanted to do more business with Trump.
This was the first time in history that the New York courts rendered a civil fraud judgment in a case where no one lost money and there were no criminal charges.
Engoron set the bond at $464 million knowing no bank would cover that amount – and if Trump couldn’t secure bond – then James could start seizing properties like Trump Tower and selling them off to collect in her judgment.
But at the last moment, a New York appeals court stepped in and lowered the bond to $175 million.
Trump announced the California-based Knight Specialty Insurance Company stepped in to post the bond.
That still didn’t stop James’ crusade against Trump.
James is now asking Judge Engoron to void the paid bond on the basis it is not “sufficiently secure and ascertainable.”
“Based on the foregoing, the People respectfully request that the Court deny Movants’ motion to justify the surety, declare the Bond to be without effect, and order that any replacement bond be posted within seven days, along with such other and further relief the Court deems necessary and appropriate,” James’ motion read.
James argued that Knight Specialty Insurance Company is a “small insurer that is not authorized to write business in New York” and had “never before written a surety bond in New York.”
The motion also argued that Knight Specialty Insurance Company lacked the assets to provide proper collateral to secure the bond.
“Based on KSIC’s policyholder surplus in its most recent annual financial statement of $138,441,671, the limitation of loss on any one risk that KSIC is permitted to write is $13.8 million,” James’ motion added. “The face amount of the bond exceeds this limitation by $161.2 million.”
Should Engoron void the bond, James also requested Engoron set a seven-day deadline for Trump to secure a new bond or else she can start seizing his properties.
This motion from James is pure harassment.
In response to the motion, Trump’s lawyers stated that Knight Specialty Insurance Company had over $2 billion in assets and that the bond secured by the company is backed by Trump’s Charles Schwab account which contains more than $175 million in cash.
“Trump said the bond, secured by Knight Specialty Insurance Company (KSIC), is backed by his Charles Schwab account, which is collateralized by more than $175 million, per the filing. It also noted that the insurance company has access to “more than $2 billion in assets and $1 billion in equity” and it’s backed by its parent company,” The Hill reports.
James has decided her only job in office is to terrorize Trump.
Along with Alvin Bragg, this is a complete weaponization of the justice system in service of a political vendetta against Donald Trump.
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