NEW: Marxist Tyrant Letitia James Asks Judge to Void Trump’s $175 Million Bond
Marxist New York Attorney General Letitia James asked a judge to void Trump’s $175 million bond that he posted to appeal the civil fraud case
Letitia James argued that California-based Knight Specialty Insurance Company (KSIC) is not approved to do business in New York.
James also questioned whether KSIC has the funds to back up the $175 million bond Trump previously posted.
“Based on KSIC’s policyholder surplus in its most recent annual financial statement of $138,441,671, the limitation of loss on any one risk that KSIC is permitted to write is $13.8 million,” Letitia James’ office wrote in a 26-page filing according to Fox News. “The face amount of the bond exceeds this limitation by $161.2 million.”
James also argued in her filing: “KSIC is not qualified to act as the surety under this standard because its management has been found by federal authorities to have operated affiliated companies within KSIC’s holding company structure in violation of federal law on multiple occasions within the past several years.”
“KSIC does not now have an exclusive right to control the account and will not obtain such control unless and until it exercises a right to do so on two days’ notice,” James’ office wrote in the filing.
