(TargetDailyNews.com) – New York Attorney General Letitia James may begin the process of seizing Donald Trump’s properties after the $175 million compromise bond posted by Knight Specialty Insurance was rejected by a New York court.
Lawyers discussing the matter online revealed that the NY court rejected the filed paperwork regarding the bond payment due to a lack of a current financial statement, which suggested that the company may not be able to pay the full amount if the appeal were rejected and the funds were due as a consequence.
Lawyer Dave Kingman suggested that Letitia James could begin asset seizure if the situation isn’t resolved quickly. Knight Specialty reported that they had refiled their paperwork on April 4th with the anticipation that the process would yield approval, abrogating further seizure attempts.
Comment requests to the Trump campaign and Knight Specialty by Newsweek went unanswered.
Trump is required to post a $175 million bond after Judge Arthur Engoron found him and his organization guilty of fraud for inflating the value of his real estate assets to secure favorable loan terms. The process is common and lenders must always approve the valuations themselves. Trump’s defense presented multiple Deutsche Bank representatives at trial who testified that Trump’s numbers were legitimate and they’d happily do business with him again in the future.
Critics of the case suggested it was a sham trial; law professor Jonathan Turley has highlighted that legal fraud requires deception, damages, and a direct connection between the two. He argued that this case lacks all three elements and is incredibly likely to be dismissed on appeal.
The judge-only trial featured a Democrat judge whose staff had previously donated to Democrat candidates; discussion of the judge or his staff’s political affiliation became the subject of a gag order that Trump violated twice. Trump’s team argued that highlighting the political affiliation of the court staff is a First Amendment-protected right. Democrats claim it’s a threat to their safety.
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