Here's a link to a news report on the subject.
https://www.msnbc.com/top-stories/latest/letitia-james-trump-fraud-bond-judgment-void-rcna148664
For those of you who are too lazy or intellectually challenged to click on the above link, here are a couple of salient excerpts from the story:
New York Attorney General Letitia James has asked Judge Arthur Engoron to void the $175 million bond in Donald Trump's civil fraud judgment, citing concerns that the bond company doesn't have the funds.
In a filing on Friday, James said Knight Specialty Insurance Company, which underwrote Trump's bond, has not been able to show that it has enough collateral to back it. She described KSIC as "a small insurer that is not authorized to write business in New York and thus not regulated by the state’s insurance department," and said the company had never written a surety bond in New York or in the past two years in any other jurisdiction.
KSIC is part of the Los Angeles-based Hankey Group of Companies, owned by billionaire Don Hankey.
An appeals court handed [Trump]a lifeline at the last minute, lowering the bond amount to $175 million. Trump posted bond days later, which has put KSIC — and Hankey himself — under a microscope. Earlier this month, Hankey told Reuters that he didn’t expect the legal and media scrutiny that came with putting up Trump’s bond. “We thought it would be an easy procedure that wouldn’t involve other legal problems and it’s not turning out that way,” he said. “We probably didn’t charge enough.”
Ya think, Hankey? Just another example that #ETTD.
https://www.msnbc.com/top-stories/latest/letitia-james-trump-fraud-bond-judgment-void-rcna148664
For those of you who are too lazy or intellectually challenged to click on the above link, here are a couple of salient excerpts from the story:
New York Attorney General Letitia James has asked Judge Arthur Engoron to void the $175 million bond in Donald Trump's civil fraud judgment, citing concerns that the bond company doesn't have the funds.
In a filing on Friday, James said Knight Specialty Insurance Company, which underwrote Trump's bond, has not been able to show that it has enough collateral to back it. She described KSIC as "a small insurer that is not authorized to write business in New York and thus not regulated by the state’s insurance department," and said the company had never written a surety bond in New York or in the past two years in any other jurisdiction.
KSIC is part of the Los Angeles-based Hankey Group of Companies, owned by billionaire Don Hankey.
An appeals court handed [Trump]a lifeline at the last minute, lowering the bond amount to $175 million. Trump posted bond days later, which has put KSIC — and Hankey himself — under a microscope. Earlier this month, Hankey told Reuters that he didn’t expect the legal and media scrutiny that came with putting up Trump’s bond. “We thought it would be an easy procedure that wouldn’t involve other legal problems and it’s not turning out that way,” he said. “We probably didn’t charge enough.”
Ya think, Hankey? Just another example that #ETTD.
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