Letitia James contended the former president failed to demonstrate that the company behind his bond had the resources to pay it if his appeal failed.

Letitia James contended the bond company may not have enough resources to pay.

Lawyers for the New York Attorney General asked Judge Arthur Engoron on Friday to reject former President Donald Trump’s $175 million bond for his civil judgment and require him to post a new one within seven days.

Letitia James contended that the former president failed to demonstrate that Knight Specialty Insurance Company, the company behind his bond, had the resources to pay the bond if Trump’s appeal failed.

…

In February, Engoron determined that Trump and his co-defendants engaged in a decade-long scheme to inflate the former president’s net worth to get better business deals and interest rates on loans.

      • FenrirIII@lemmy.world
        28·
        2 months ago

        It’s all the grift. Everyone is so afraid of the orange turd’s followers that they bend/break the rules for him.

        • kreekybonez@lemmy.world
          231·
          2 months ago

          there’s a word for that… terrorism.

          also follows with their sense of extreme conservatism, religious fundamentalism, and anti-globalism/hyper nationalism

      • Bassman1805@lemmy.world
        24·
        2 months ago

        As far as in aware, not being a NY company isn’t the issue, it’s the fact that they have no evidence they can actually pay the full amount in the event that Trump doesn’t follow through with his obligations for the bond.

    • MNByChoice@midwest.social
      25·
      2 months ago

      I believe only the paperwork has been received, the bond has not been “accepted”. This filing is pushing to not accept it.

      It has effectively paused some clocks in this particular case, but that gets beyond me.

      Edit: on mobile, fixed a typo. “Gets” had been “geys”.

    • disguy_ovahea@lemmy.world
      10·
      2 months ago

      It hasn’t been accepted yet. It was posted on April 1st, without the required surety. Engoran is scheduled to make his decision on Monday. This is just the AG’s assessment and recommendation.