NY - $250m fraud against Former President Donald Trump, Trump Org., Eric, Donald Jr., Sept 2022, Trial 2 Oct 2023, #2

[PommyMommy]

MAR 25, 2024

Live updates: Trump hush money case trial date set, ruling on civil fraud bond deadline

In the civil fraud case, an appeals court ruled former President Donald Trump can pay a smaller bond. In the criminal hush money trial, a judge said jury selection is now set for April 15. Follow here for the latest live news updates.

www.cnn.com

Key takeaways from Trump’s wild day of legal developments​

Donald Trump received both a lifeline from the courts Monday and a trial date for the first criminal trial of a former president in US history, a pair of rulings that hit home the legal whiplash constantly surrounding him.

[...]

• Hush money trial date set: Trump’s historic criminal trial in the New York hush money case against him will begin with jury selection on April 15, Judge Juan Merchan said Monday, after a dispute over the late production of documents caused the judge initially to push back the start date. ...
• Appeals court lowers Trump’s bond: The more significant ruling Monday may have been a New York appeals court allowing him to post a reduced $175 million bond to appeal the $464 million civil fraud judgment against him, his adult sons and his company. Trump told reporters he will cover the bond using cash as a collateral. ...
• Judge dismisses allegations made against district attorney: During Monday’s hearing, Merchan also discredited Trump’s allegations of misconduct against the district attorney’s office, finding that prosecutors cooperated in the effort to secure documents from the US Attorney’s Office of the Southern District of New York. ...

[...]

 

[Niner]

Update!

Monday, April 1st:
*Posted Bond Appeal (of $175M) (@ am ET) – NY – New York vs. Donald J. Trump (76/now 77), Donald Trump, Jr. (45) & Eric Trump (38/now 39) & the Trump Organization, Inc. (Allen Weisselberg (75/now 76) & Jeffrey McConney) are being sued by Letitia James, the New York Attorney General, who is leading a civil investigation (which cannot result in criminal charges filed on 9/21/22) & has spent years looking at whether the company committed various acts of fraud over several decades. In the civil case, Ms. James has filed a lawsuit against Trump & two of his children accusing them of “astounding” fraud & deception.
New York is seeking $250 million in financial penalties & asked the court to ban Trump, Donald Trump Jr. & Eric Trump from serving as an officer or director in any corporation registered or licensed in New York. James also requested the court ban the former president & his business from acquiring real estate in New York or from applying for loans from any New York financial institution for five years. James’s civil case accuses Trump of lying from 2011 to 2021 about asset values at the Trump Organization, as well as his own net worth, in order to obtain better terms from lenders & insurers.
Lawsuit against: Donald John Trump, Donald Trump, Jr, Eric Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc., Trump Organization LLC, DJT Holdings LLC, DJT Holinds Managing Memer, Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post of Fice LLC, 40 Wall Street LLC & Seven Springs LLC.
All charges against Ivanka Trump were dismissed in June, 2023.
New York Supreme Court (Manhattan) #452564-2022 / New York State Supreme Court, Appellate Division, 1st Dept, No. 2023-00717.
Bench Trial began on 10/2/23 & ended on 1/11/24 with closing arguments. Prosecutors rested their case on 11/8/23. Defense began their case on 11/13/23 & ended 12/18/23. Closing arguments were on 1/11/24.
The lawsuit’s remaining 6 counts allege similar acts of fraud (that Trump inflated his assets on statements of financial condition that he submitted to banks & insurers for personal gain).
Judge Arthur F. Engoron presiding / NY State Attorney General Leticia James & senior enforcement counsel Kevin Wallace, Defense attorney Christopher Kise & Jesus Suarez & Alina Habba for Trump, Weisselberg & the rest of the defendants for Trump Org. / Clifford Robert of Robert & Robert PLLC for Donald, Jr. & Eric.
*Trump, his eldest sons & associates have been ordered to pay $355M by a New York Judge Arthur Engoron who found them guilty of intentionally committing financial fraud over the course of a decade (2/16/24). Rump was also barred from leading any New York company for three years. Eric & Donald, Jr. ordered to pay $4M & barred for 2 years. & Weisselberg to pay $1M & Weisselbeg & Jeffrey McConney are permanently banned from serving as an officer or director of any State of New York corporation or other legal entities in New York for 3 years.
*Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that he lied about his wealth as he grew the real estate empire that launched him to stardom & the presidency. His lawyers filed notices of appeal Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16, 2024 verdict. (2/26/24)
*New York appellate court Judge Anil C. Singh on Wednesday denied Trump’s attempt to freeze the judgment in his civil fraud case, a ruling that means, for now, that Trump is required to post a bond for hundreds of millions of dollars in the coming weeks. Judge Anil C. Singh GRANTS Trump a partial stay of $465M fraud judgment that allows him & his sons to steer the company & obtain loans to put up a bond while they appeal. (2/28/24). Deadline is Sunday, 3/24/24.
3/21/24 Update: The amount Trump owes is increasing by nearly $112,000 each day due to interest. As of Tuesday, 3/19/24, he owed the state nearly $456,800,000. On 3/20/24: $456.912,000. 3/21/24: $458,924,000. 3/22/24: $459,036,000. 3/23/24: $459,148,000. 3/24/24: $459,360,000. 3/25/24: $464,576,230.62 DUE! Added $112K per day until & including 4/4/24.
New York appeals court ruled Trump must pay $175 million bond to satisfy the civil fraud judgement within 10 days [approx. 4/4/24],
Case & court info & Summary Judgement from 9/21/22 thru 9/28/23 & Bench Trial Day 1-48 (10/2-1/25/24) & thru 3/21/24 reference post #692 here:
[URL='https://www.websleuths.com/fo...t-2022-trial-2-oct-2023-2.695170/page-35[/url]
3/21/24 Update: New York Judge Arthur Engoron, who oversaw Trump’s civil fraud trial, imposed a monitor over the Trump Organization as part of a judgment that also required Trump to pay a nearly-half billion dollar penalty. Barbara Jones, a retired federal judge, has been overseeing the Trump Organization’s finances since November 2022 as part of a preliminary injunction. She is now installed for the next three years. As part of the arrangement, the Trump Organization must open its books to Jones, who has also been given the ability to suggest court-ordered changes in how the Trump Organization operates. She must be notified about any large cash transfers, the creation or dissolution of assets, the restructuring of debt & “any efforts to secure surety bonds,” according to Engoron’s order issued Thursday. Deadline to pay bond 3/25/24.
3/25/24 Update: Trump gets partial victory on bond: A New York appeals court ruled Trump must pay $175 million bond to satisfy the civil fraud judgement within 10 days [4/4/24], pending appeal, instead of the full $464 million judgment on his fraud case which was due today, just hours before New York’s attorney general could legally begin the long, slow process of seizing his assets. The New York appeals court's order in Trump's civil fraud trial means that Trump & his sons can still run a business in New York & obtain loans from New York financial institutions for the moment. The appeals court's order gives Trump 10 more days to post his bond to satisfy the civil fraud judgement & cut the amount necessary to $175 million. Judge Arthur Engoron's court-ordered monitor and the appointment of a compliance director for Trump's company will remain in place, however.
4/1//24 Update: Trump posted a $175m bond in his New York civil fraud case on Monday, averting asset seizures by state authorities that could have hobbled the former US president’s business empire.

 

[TootsieFootsie]

Trump sues Truth Social co-founders, says they're not entitled to stock shares

Andy Litinsky and Wes Moss sued Trump in February, alleging he was trying to "drastically dilute" the value of their shares.

www.nbcnews.com

 

[legalmomma]

Donald Trump forced to reveal his finances to save his properties

Documents for Trump's $175 million bond were returned to his lawyers.

www.newsweek.com

Documents for Donald Trump's $175 million bond in his New York civil fraud case were rejected by a court because a current financial statement was not included.

On Wednesday, a message on the New York State Supreme Court's electronic filing system showed Trump's "Bond/Undertaking" had been "returned for correction."

—————

https://twitter.com/x/status/1775569856009490799

BREAKING NEWS:Court rejected #TrumpBond filing in #TrumpFraudVerdict for several reasons, 1 of which was #Trump failed to upload his "current financial statement" to the Court [looking forward to read].175 million reasons why 1 mistake should not have been made, much less 3 !

 

[Smelly Squirrel]

Thread by @lawofruby on Thread Reader App

@lawofruby: Today, I learned that the court filing reflecting Trump’s bond in the civil fraud case was “returned for correction” and specifically, for the inclusion of a current financial statement and power of atto...…

threadreaderapp.com

Today, I learned that the court filing reflecting Trump’s bond in the civil fraud case was “returned for correction” and specifically, for the inclusion of a current financial statement and power of attorney. But all is not what it seems. 1/

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 company is sufficiently capitalized and authorized to post the bond. 2/

As of tonight, those documents do not appear on the docket. 3/

Meanwhile, we still don’t know what fee Trump paid for the bond or exactly what collateral he pledged, especially as Don Hanley gave slightly different accounts to various media outlets. 4/

But you know who likely DOES have all of those details? Retired federal judge Barbara Jones, the court-appointed monitor in the case. Under a 3/21/24 order, the Trump Org must give her advanced notice of their efforts to secure surety bonds. 5/

 

[Niner]

Donald Trump forced to reveal his finances to save his properties

Documents for Trump's $175 million bond were returned to his lawyers.

www.newsweek.com

Documents for Donald Trump's $175 million bond in his New York civil fraud case were rejected by a court because a current financial statement was not included.

On Wednesday, a message on the New York State Supreme Court's electronic filing system showed Trump's "Bond/Undertaking" had been "returned for correction."

—————

https://twitter.com/x/status/1775569856009490799

BREAKING NEWS:Court rejected #TrumpBond filing in #TrumpFraudVerdict for several reasons, 1 of which was #Trump failed to upload his "current financial statement" to the Court [looking forward to read].175 million reasons why 1 mistake should not have been made, much less 3 !

So... now wondering IF that deadline of today, 4/4/24 is still in effect? They do not give him a deadline for refiling - so just wondering... can the DA seize his properties IF not refiled by today??

 

[sds71]

LANCASTER, N.Y. — A New York man has been charged with sending death threats to the state attorney general and the Manhattan judge who presided over former President Donald Trump’s civil fraud case.

Tyler Vogel, 26, of Lancaster, sent text messages late last month threatening New York Attorney General Letitia James and Judge Arthur Engoron with “death and physical harm” if they did not comply with his demands to “cease action” in the Trump case, according to a complaint filed last week in a court in Lancaster, a suburb east of Buffalo.

State police said in the complaint that Vogel used a paid online background website to obtain private information about James and Engoron and that this “confirmed intentions to follow through with the threats were his demands not met.”

Vogel has been charged with two felony counts of making a terroristic threat and two misdemeanor counts of aggravated harassment.

Erie County District Attorney John Flynn’s office said in a news release that a temporary protection order was also issued. If convicted, Vogel faces a maximum of seven years in prison, the office said.

Erie County man charged with sending threats to AG James, judge

Police say the threats came through text messages.

spectrumlocalnews.com

Lancaster man accused of sending death threats to New York AG, judge in Trump civil case

Tyler Vogel faces a maximum of seven years in prison.

www.wivb.com

 

[crussell821]

LANCASTER, N.Y. — A New York man has been charged with sending death threats to the state attorney general and the Manhattan judge who presided over former President Donald Trump’s civil fraud case.

Tyler Vogel, 26, of Lancaster, sent text messages late last month threatening New York Attorney General Letitia James and Judge Arthur Engoron with “death and physical harm” if they did not comply with his demands to “cease action” in the Trump case, according to a complaint filed last week in a court in Lancaster, a suburb east of Buffalo.

State police said in the complaint that Vogel used a paid online background website to obtain private information about James and Engoron and that this “confirmed intentions to follow through with the threats were his demands not met.”

Vogel has been charged with two felony counts of making a terroristic threat and two misdemeanor counts of aggravated harassment.

Erie County District Attorney John Flynn’s office said in a news release that a temporary protection order was also issued. If convicted, Vogel faces a maximum of seven years in prison, the office said.

Erie County man charged with sending threats to AG James, judge

Police say the threats came through text messages.

spectrumlocalnews.com

Lancaster man accused of sending death threats to New York AG, judge in Trump civil case

Tyler Vogel faces a maximum of seven years in prison.

www.wivb.com

Moron.

 

[Smelly Squirrel]

So... now wondering IF that deadline of today, 4/4/24 is still in effect? They do not give him a deadline for refiling - so just wondering... can the DA seize his properties IF not refiled by today??

They have 10 days from today according to the State's notice of today.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=s4dpZ_PLUS_u0rxLM_PLUS_xsccBGwbw==&system=prod

 

[sds71]

@KlasfeldReports

In Trump's civil fraud case, Justice Engoron schedules a hearing later this month on the sufficiency of the surety bond

 

[sds71]

“The legal document from Knight Specialty Insurance Company doesn’t actually promise it will pay the money if the former president loses his $464 million bank fraud case on appeal. Instead, it says Trump will pay, negating the whole point of an insurance company guarantee.”

Trump’s $175 Million Bond Is Even Shadier Than It Looks

New information shows that the insurance company that swooped in and bailed out Trump with a $175 million bond isn’t on a list of vetted companies—and wrote a bizarre contract.

www.thedailybeast.com

 

[Niner]

Updated 4/10/24

NY - $250m lawsuit New York vs. Donald J. Trump, Ivanka Trump, Donald Trump, Jr. & Eric Trump & the Trump Organization, Inc. (Allen Weisselberg & Jeffrey McConney) that was allegedly obtained through fraudulent means.
Judge Arthur F. Engoron. NY State Attorney General Leticia James & senior enforcement counsel Kevin Wallace, Defense attorneys Christopher Kise & Jesus Suarez & Alina Habba for Trump, Weisselberg & the rest of the defendants for Trump Org. & Clifford Robert of Robert & Robert PLLC for Donald, Jr. & Eric. New York Supreme Court (Manhattan) #452564-2022

Thursday, 4/4/24 - A New York appeals court ruled Trump must pay $175 million bond to satisfy the civil fraud judgement within 10 days [counting 3/25/24-approx. 4/4/24], pending appeal, instead of the full $464,576,230.62 million judgment on his fraud case which was due today, just hours before New York’s attorney general could legally begin the long, slow process of seizing his assets. [to stay disgorgement to the Attorney General of $464,576,230.62 pending appeal]
Paid on 4/1/24 – 4/3/24 Update: Documents for Trump's $175 million bond in his New York civil fraud case were rejected by a court because a current financial statement was not included. On Wednesday, a message on the New York State Supreme Court's electronic filing system showed Trump's "Bond/Undertaking" had been "returned for correction." The court has returned the documents listed below for the following reasons. Please include a current financial statement & Power of Attorney. Additionally, please list the name of the Attorney-in-Fact under the signature line on the Undertaking. Please use the "Refile Document" link for Doc. #1707 to resubmit the corrected filing. Thank you & have a great day.
Monday, 4/22/24 @ 10am – Other [action] hearing re bond rejection.

 

[sds71]

Allen Weisselberg was released from jail on April 19, after serving 100 days of a 5 months sentenced. He was sentenced today, 357 days later, to another 5 months sentence. Here's a timelinehttps://cbsnews.com/news/allen-weisselberg-perjury-sentencing-trump-organization-cfo/

 

[Smelly Squirrel]

Today is the deadline to cure the bond, but nothing yet.

 

[Smelly Squirrel]

Nothing has been filed today on the bond. But there is a hearing scheduled for 4/22 and it supposed to be about the bond. This article says NY can start collecting after today, but I wouldn't be so sure.

Is the insurer providing Trump's fraud bond eligible to do so?

Deadline looms today as ex-president heads to court

www.insurancebusinessmag.com

Trump secured the bond earlier this month. However, New York Attorney General Letitia James immediately took exception to the bond, raising questions about the insurer’s financial fitness and qualifications to issue surety bonds in the state of New York. For instance, Knight is not licensed in New York – ordinarily a requirement for issuing surety bonds in the state.

The bond was provided by Knight Specialty Insurance, an obscure insurer that isn’t on the list of federally approved sureties, the Wall Street Journal reported. James demanded that Knight or Trump’s attorneys prove the insurer is qualified to issue the bond – including proving that the insurer is financially solvent and specifying which of Trump’s assets are backing the bond, the Journal reported.

New York Justice Arthur Engoron, who delivered the $454 million judgment against Trump, has scheduled a hearing on the bond issue for April 22. Attorney Adam Pollack, who previously worked in the state AG’s office, told the Wall Street Journal that Engoron could find that the bond doesn’t comply with state law.
----
If Trump fails to meet the Monday deadline for showing the fitness of the bond, the New York attorney general could begin enforcing the fraud ruling, the Journal reported. That could include seizing the former president’s assets to satisfy the judgment.

 

[Smelly Squirrel]

So there was some activity tonight on the bond after all, Knight Specialty Insurance filed some documents after 10pm, including an affirmation from a NY insurance executive vouching for Knight, that they have enough funds and that Trump has collateral with a Schwab account that has $175 million in cash.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=KKl0zok3tbIOgCch_PLUS_MmraQ==&system=prod

Here's the Schwab account.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=xEU0MmKSGC_PLUS__PLUS_PWvNi5Ke_PLUS_Q==&system=prod

There's a bunch of other documents filed, various pledges, agreements, and financial statements.
So, we'll have to wait and see what the state says next.

 

[SouthAussie]

The NY AG has asked the judge to void trump's bond.

- Knight Specialty Insurance is a small California insurer that is not authorised to write business in NY
- Knight Specialty Insurance is only allowed to write a bond up to $13.8M (which is the allowed 10% of their policy surplus)
- Trump still has access to the $175M cash he put up as surety, so the asset is not sufficiently collateralized

The judge will hold a hearing on Monday to discuss the issues, on the same day that trump's criminal trial starts in NY.

NY AG asks Trump civil fraud judge to declare $175M bond ‘without effect’

The New York attorney general’s office has asked a judge to void the $175 million bond former President Trump secured to put off paying the larger monetary damage award in his civil fraud cas…

thehill.com

 

[Niner]

Monday, April 22nd:
*Other (Action) Hearing (re $175M bond) (@ 10am ET) – NY – New York vs. Donald J. Trump (76/now 77), Donald Trump, Jr. (45/now 46) & Eric Trump (38/now 40) & the Trump Organization, Inc. (Allen Weisselberg (75/now 76) & Jeffrey McConney) are being sued by Letitia James, the New York Attorney General, who is leading a civil investigation (which cannot result in criminal charges filed on 9/21/22) & has spent years looking at whether the company committed various acts of fraud over several decades. In the civil case, Ms. James has filed a lawsuit against Trump & two of his children accusing them of “astounding” fraud & deception.
New York is seeking $250 million in financial penalties & asked the court to ban Trump, Donald Trump Jr. & Eric Trump from serving as an officer or director in any corporation registered or licensed in New York. James also requested the court ban the former president & his business from acquiring real estate in New York or from applying for loans from any New York financial institution for five years. James’s civil case accuses Trump of lying from 2011 to 2021 about asset values at the Trump Organization, as well as his own net worth, in order to obtain better terms from lenders & insurers.
Lawsuit against: Donald John Trump, Donald Trump, Jr, Eric Trump, Allen Weisselberg, Jeffrey McConney, The Donald J. Trump Revocable Trust, The Trump Organization, Inc., Trump Organization LLC, DJT Holdings LLC, DJT Holinds Managing Memer, Trump Endeavor 12 LLC, 401 North Wabash Venture LLC, Trump Old Post of Fice LLC, 40 Wall Street LLC & Seven Springs LLC.
All charges against Ivanka Trump were dismissed in June, 2023.
New York Supreme Court (Manhattan)
Bench Trial began on 10/2/23 & ended on 1/11/24 with closing arguments. Prosecutors rested their case on 11/8/23. Defense began their case on 11/13/23 & ended 12/18/23. Closing arguments were on 1/11/24.
The lawsuit’s remaining 6 counts allege similar acts of fraud (that Trump inflated his assets on statements of financial condition that he submitted to banks & insurers for personal gain).
Judge Arthur F. Engoron presiding / NY State Attorney General Leticia James & senior enforcement counsel Kevin Wallace, Defense attorney Christopher Kise & Jesus Suarez & Alina Habba for Trump, Weisselberg & the rest of the defendants for Trump Org. / Clifford Robert of Robert & Robert PLLC for Donald, Jr. & Eric.
*Trump, his eldest sons & associates have been ordered to pay $355M by a New York Judge Arthur Engoron who found them guilty of intentionally committing financial fraud over the course of a decade (2/16/24). Rump was also barred from leading any New York company for three years. Eric & Donald, Jr. ordered to pay $4M & barred for 2 years. & Weisselberg to pay $1M & Weisselbeg & Jeffrey McConney are permanently banned from serving as an officer or director of any State of New York corporation or other legal entities in New York for 3 years.
*Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that he lied about his wealth as he grew the real estate empire that launched him to stardom & the presidency. His lawyers filed notices of appeal Monday asking the state’s mid-level appeals court to overturn Judge Arthur Engoron’s Feb. 16, 2024 verdict. (2/26/24)
*New York appellate court Judge Anil C. Singh on Wednesday denied Trump’s attempt to freeze the judgment in his civil fraud case, a ruling that means, for now, that Trump is required to post a bond for hundreds of millions of dollars in the coming weeks. Judge Anil C. Singh GRANTS Trump a partial stay of $465M fraud judgment that allows him & his sons to steer the company & obtain loans to put up a bond while they appeal. (2/28/24). Deadline is Sunday, 3/24/24.
3/21/24 Update: The amount Trump owes is increasing by nearly $112,000 each day due to interest. As of Tuesday, 3/19/24, he owed the state nearly $456,800,000. On 3/20/24: $456.912,000. 3/21/24: $458,924,000. 3/22/24: $459,036,000. 3/23/24: $459,148,000. 3/24/24: $459,360,000. 3/25/24: $464,576,230.62 DUE! Added $112K per day until & including 4/4/24.
New York appeals court ruled Trump must pay $175 million bond to satisfy the civil fraud judgement within 10 days [4/4/24]. Posted the $175 million bond on 4/1/24.
Case & court info & Summary Judgement from 9/21/22 thru 9/28/23 & Bench Trial Day 1-48 (10/2-1/25/24) & thru 3/25/24 reference post #702 here:
[URL='https://www.websleuths.com/fo...t-2022-trial-2-oct-2023-2.695170/page-36[/url]
4/1//24 Update: Trump posted a $175m bond in his New York civil fraud case on Monday, averting asset seizures by state authorities that could have hobbled the former US president’s business empire.
4/3/24 Update: Documents for Trump's $175 million bond in his New York civil fraud case were rejected by a court because a current financial statement was not included. On Wednesday, a message on the New York State Supreme Court's electronic filing system showed Trump's "Bond/Undertaking" had been "returned for correction." The court has returned the documents listed below for the following reasons. Please include a current financial statement & Power of Attorney. Additionally, please list the name of the Attorney-in-Fact under the signature line on the Undertaking. Please use the "Refile Document" link for Doc. #1707 to resubmit the corrected filing. Thank you & have a great day. link: https://twitter.com/NYadvocateJKL/s...veal-his-finances-save-his-properties-1886609
4/4/24 Docket update: Notice of Exception to Surety pursuant to CPLR S2506(a). {Defendants or Knight Specialty Insurance Co. shall file a motion to justify the surety within 10 days (of 4/4/24) failing which the Bond shall be without effect, except that the surety shall remain liable on the Bond until a new undertaking is given & allowed. Filed by AG NY Letitia James. Other (action) hearing set on 4/22/24 @ 10am per Judge Engoron.
4/8/24 Update: The little-known insurance company that rescued Trump by providing a last-minute $175 million bank fraud bond isn’t just unlicensed in New York; it hasn’t even been vetted by a voluntary state entity that would verify it meets minimum “eligibility standards” to prove financial stability. Perhaps even more troubling, the legal document from Knight Specialty Insurance Company doesn’t actually promise it will pay the money if Trump loses his $464 million bank fraud case on appeal. Instead, it says Trump will pay, negating the whole point of an insurance company guarantee, according to three legal & bond experts who reviewed the contract. “This is not common… the only reason this would be done is to limit the liability to the surety,” said N. Alex Hanley, an expert in how companies appeal enormous judgments. In subsequent court filings, the AG’s office immediately questioned whether Knight Specialty was even good for the money. The law enforcement agency said it “takes exception to the sufficiency of the surety,” noting that Knight Specialty is trying to operate “without a certificate of qualification.”
4/15/24 Docket update: Affirmation of Gregory V. Serio in support of Motion by Knight Specialty Insurance Co. to set aside exception to Surety & to justify Surety filed by David H. Pikus, Esq. The Bond is adequately secured. KSIC has entered into a Collateral Acct Pledge & Security Agreement with Donald J. Trump Revocable Trust. As of 4/5/24 the account (Schwab) contains $175,304,075.95 in cash.
link: https://iapps.courts.state.ny.us/fb...tId=KKl0zok3tbIOgCch_PLUS_MmraQ==&system=prod
Schwab Account.
link: https://iapps.courts.state.ny.us/fb...KSGC_PLUS__PLUS_PWvNi5Ke_PLUS_Q==&system=prod

 

[legalmomma]

Trump trial live updates: DA alleges Trump led 'cook the books' scheme to bury 'porn star payoff'

Opening statements are set to begin today in former President Donald Trump's historical New York criminal trial.

www.nbcnews.com

In other Trump legal news, an agreement was reached this morning at the $175 million bond hearing in the Trump New York civil fraud case.

Chris Kise, Trump’s attorney said, they agreed with New York Attorney General Letitia James’ office to maintain the Schwab account in cash. Knight will have exclusive control of the account, and shall not trade or withdraw the account for any purpose other than to satisfy the condition of the bond.

Kise said that they will provide a monthly account statement to the attorney general’s office and that they will revise the pledge and control agreement so that it cannot be amended without the court approval.

Kise said that the parties will submit a stipulation that will memorialize this by Thursday.