Judge Approves Trump’s $175 Million Bond in New York Civil Case Despite Letitia James’ Campaign of Terror
Letitia James tried to go after the bond underwriters due to insufficient collateral so that she could seize Trump’s assets. This is massive win over the forces of evil.
James is stark raving mad with TDS.
https://x.com/ChuckCallesto/status/1782444030933995683
https://x.com/CitizenFreePres/status/1782402095322468714
Judge Approves Trump’s $175 Million Bond in New York Civil Case
Judge Approves Trump’s $175 Million Bond With New Restrictions in New York Civil Case
An agreement was reached between President Trump’s attorney and New York Attorney General Letitia James on the handling of the bond account.By Sam Dorman, Catherine Yang and Juliette Fairle, The Epoch Times,y
Former President Donald Trump and New York Attorney General Letitia James reached an agreement on April 22 regarding his $175 million bond in his New York civil case, imposing additional restrictions while resolving concerns about the funds’ security.
The attorney general argued that Knight Specialty Insurance Company (KSIC) lacked a “certificate of qualification,” and that President Trump still had access to the Charles Schwab account pledged to the insurer as collateral.
Judge Arthur Engoron accepted the April 22 agreement, which gave KSIC exclusive control over the account. The state made the offer after Chris Kise, President Trump’s attorney, provided oral argument.
The attorney general established five bond conditions this morning that allow former President Trump to use a non-New York company as a traditional license surety to cover the $175 million he was ordered to pay.
KSIC is unauthorized by the New York Department of Financial Services, which bond experts see as a victory for Mr. Trump.
“[The company] is probably charging Trump less and they accepted a pledge rather than actually receiving $175 million in cash,” said Bruce Lederman, a commercial and real estate litigator who has dealt in bonds for more than 40 years.
All of Mr. Trump’s attorneys agreed to the settlement stipulations, which are expected to be memorialized by the end of the week.
The five bond conditions include retaining the collateral in a Schwab account and restricting KSIC from trading or withdrawing any of the funds for anything other than payment of the bond.
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Source: https://gellerreport.com/2024/04/judge-approves-trumps-175-million-bond-in-new-york-civil-case-despite-letitia-james-campaign-of-terror.html/
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