So, maybe you heard that Trump got a $175M bond for his NY fraud appeal. Well, it seems his bond deal is falling apart and the NY AG may be about to start seizing his properties.
"An insurance company will not be permitted to post a $175 million bond for Donald Trump while he appeals a fraud judgment, a former federal prosecutor has said... as a result, New York Attorney General Letitia James will be able to begin enforcement proceedings on Donald Trump's properties."
@mastodonmigration I’d enjoy watching this play out as indicated, although I’m hesitant to get too excited because despite the headline, the reporting in that article appears to be limited to “some lawyers on X said…” ¯_(ツ)_/¯
@mastodonmigration@gulovsen Note that the source is Newsweek, which is owned by a cult and no longer is a serious journalistic outfit. Cut instance, their original story on this reported inaccurately that the court was requiring Trump's financial statements, when actually it wanted the bonding company's financials.
"The financial statement that is missing does not seem to be Trump's. Rather, the court appears to be demanding these documents from Knight Specialty Insurance Co. to ensure that the company is sufficiently capitalized and authorized to post the bond," Rubin wrote on Wednesday"
@mastodonmigration@gulovsen Interesting. The Newsweek story before that one got it wrong, and I went looking for the real story and found Rubin's Twitter posts. Looks like Newsweek found them too, and corrected it. (But they're still not reliable.)
That may be. It does seem like their conclusions are jumping the gun, hence the qualifications in the post. Never-the-less there is plenty of other reporting, much of it in this thread, on how fishy this bond deal is. It will certainly be interesting to see what happens next.
Impossible to know, but feel like this was a last minute hail Mary attempt. Trump got his loan shark buddy Hankey to put up a flimsy POS bond, hoping it would at least delay things. What Hankey didn't bargain on was that they would BOTH deny the bond and determine he (Hankey) was still on the hook for the $175M. It's a total nightmare for him.
@mastodonmigration
Why couldn't $175m have been raised as part of a syndicate before? Suddenly it was easy when the appellate court caved on the amount?
The moment they lowered the bond to $175m, Trump decided they were suckers and was going to try to play them.
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