pjmedia.com By MATT MARGOLISÂ
A New York judge ruled on Monday that the $175 million bond judgment against former President Donald Trump will remain intact despite New York Attorney General Letitia James’s efforts to challenge it.
James’s legal team argued that the court should nullify Trump’s reduced judgment of $175 million in his non-jury civil fraud trial. Her team raised concerns about the ability of Knight Specialty Insurance, the company behind the substantial bond, to actually pay the bond if necessary.
That’s a rather curious position since she had asked for a much larger $370 million in damages â it’s as if the entire point was to achieve a judgment that would be impossible for Donald Trump to pay. It’s as if the entire point of her case was to seize his assets under bogus pretenses and be a hero to the radical left.
As you know, in February, leftist Judge Arthur Engoron fined Trump $454 million (including interest) for allegedly fraudulently inflating the value of his assets while seeking a loan to build a project. Trump paid the loan back in full, and the bank he supposedly defrauded testified in his defense. Simply put, there was no crime or victim.
This isn’t exactly shocking because James campaigned on getting Trump, but if she’s questioning whether Knight Specialty Insurance could pay the extremely large judgment, then she likely knew that no bond issuer could possibly pay the $370 million she asked for and certainly not the $454 million Trump would be required to pay once interest was taken into account. Failure to post bond would not only prevent Trump from being able to appeal the absurd judgment, but it would also allow James to seize his assets.
Clearly, that was the endgame of the entire witch hunt.
Fox News has more.
The court decided the $175 million needs to be in cash â not in mutual funds or securities where the value can fluctuate. The court said Knight Insurance cannot trade or move the money, but said they will retain control of the account.
The court also ruled that Knight Insurance must provide a monthly financial statement to James showing the $175 million in cash and decided that the agreement cannot change without approval from the court…
READ FULL ARTICLE HERE… (pjmedia.com)
Home | Caravan to Midnight (zutalk.com)
Be First to Comment