New York AG questions whether California company can handle Trump's $175M bond

Letitia James asked the firm to show it’s capable of paying the bond if needed.

New York Attorney General Letitia James questioned Thursday whether the California company that underwrote former President Donald Trump’s $175 million bond in his New York civil fraud case is financially qualified to handle a bond of that size.

In a court filing, James requested that Knight Specialty Insurance Company submit papers demonstrating it is financially capable of paying the bond should Trump lose his appeal in the case.

The California company is not registered with the New York Department of Financial Services.

jaybone,

Good for her, really fucking hitting everything she can against this asshole.

And fuck these California insurance companies. You can’t even get home insurance now from these assholes, but somehow they are willing to insure Trumps criminal nonsense. Someone should go after these companies next.

dogslayeggs, (edited )

EDIT: I was mostly wrong. He insures subprime auto loans.

Original post: It isn’t an insurance company. It’s a guy who owns a company giving subprime auto loans and then repos as soon as they default. Fuck this guy, but he’s not an insurance company.

Sizzler,

Nah come on now. Insurance is all about numbers not emotions. Chance of Trump skipping bail near 0%, chance of wooden housing in Florida getting trashed in the next few years? 100%

I get your emotive response but it’s not based upon facts.

cybervseas,

It’s not about skipping bail. This is for his civil trial, so it’s an appeal bond. The real question is: what’s the chance that Trunp loses his appeal, but still refuses to pay the penalty? I think that’s meaningfully >0%.

Sizzler, (edited )

Ok agree, my bad, that does make it worse.

Also can we talk about this

Donald Trump did not expressly direct him to reverse engineer financial statements, he ordered him to do so indirectly, in his ‘mob voice.’"

phoenixz,

Hey, if Trump becomes president this guy will share the presidents balls with Putin. Not a bad investment

FaceDeer,
@FaceDeer@fedia.io avatar

Shouldn't the bond already be paid, though? If they won't accept an IOU from Trump himself why are they accepting an IOU from someone on his behalf?

profdc9,

Maybe the bond company needs to get a bond for itself.

Evotech,

why can you just guarantee that shit. Pay up.

It’s not like anyone else can come and say trust me bro

Badeendje,
@Badeendje@lemmy.world avatar

LoL. Can’t wait to see the outcome. Probably they can but if they ended up providing a bind under false pretenses.

Maybe something to do with why the paperwork was unsigned and all. Noone dared to…

Habahnow, (edited )

Edit: seems specific to Brave, as neither Chrome nor Firefox exhibit the same behavior. Got the extension autoplay stopper in order to stop autoplay as even Brave’s settings don’t stop autoplay.

Wow, auto playing video, that also has audio. not going to click on an ABCnews link again

StereoTrespasser,

Check your browser settings, it’s not playing for me.

Habahnow,

huh, Brave auto plays, but neither chrome nor Firefox do. Something I’ll have to check, thanks!

Varyk,

Go Letitia!

FuglyDuck,
@FuglyDuck@lemmy.world avatar

I like her. I really do.

all though, all this popcorn I’m eating is ruining my diet.

ptz,
@ptz@dubvee.org avatar

It’s doing more damage to my complexion than my diet. All that movie theater butter is coming straight out of my pores.

Should probably also diversify my 401k into both Orville Redenbacher and whatever company makes acne cream.

cybervseas,

Conagra Brands for the popcorn, and basically every CPG conglomerate makes acne medicine. Except maybe Nestle lol.

Riven,
@Riven@lemmy.dbzer0.com avatar

Nestle owns like 30 percent of L’Oréal which is a makeup company which I’m certain has acne creams and stuff lul.

Substance_P,

I’m sure there’s no problem here for the company.

Step one: Overinflate the assets of the bail bond company.

Step two: Claim the assets of the company and get loans based on those inflated values.

Step three: If found to be fraudulent in said valuation, take it to court.

Step four: Go back to step one.

gregorum,

One last thing: forget to mention said company isn’t even licensed to issue bonds in NY 😬

Substance_P,

I also read that they only have 138 million in cash to cover the 175 mil bond, even despite being outside of the jurisdiction of NY.

gregorum,

lol, that, too. I think it WSJ or Forbes that reported that.

So slimy

aStonedSanta,

I heard companies cannot put more than 10% of their capital at risk for a bond in NYC also lol. cbsnews.com/…/donald-trump-175-million-civil-frau…

gregorum,

Lol, fun

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