The Courts Reject Donald Trump's Bond

Last week Donald Trump announced he had secured the $175 million bond necessary to launch his appeal on corruption charges in New York, after he was granted a sizable reduction and given a 10 day extension [click here if you missed that].

This week the bond was rejected by the court, and New York Attorney General Letitia James is preparing to being seizing Trump assets...

From Newsweek

An insurance company will not be permitted to post a $175 million bond for Donald Trump while he appeals a fraud judgment, a former federal prosecutor has said.

Eric Lisann was reacting to a separate comment by another lawyer, Dave Kingman, who wrote that Knight Specialty Insurance will not be able to post the bond for Trump.

Kingman wrote that, as a result, New York Attorney General Letitia James will be able to begin enforcement proceedings on Donald Trump's properties.

A New York court has rejected Knight Specialty's paperwork and said it wanted to see more information on its financial backing. The company filed new paperwork on April 4.

Writing on X, formerly Twitter, one-time federal prosecutor Lisann wrote that Knight Speciality might not be able to post the bond for Trump and will be liable for the full amount because it had given a guarantee to the court.

"Looks like there is a real possibility that this Don Hankey-owned Knight Specialty Insurance does not itself have liquidity, and did not get from Trump collateral, sufficient to provide legally cognizable assurance that it can pay $175 million on demand in the event of a judgment-affirming appeal," he said.

"Thus NY AG James looks to be soon greenlit to execute on her $450 million judgment against Trump as if Trump posted no bond."