“Incomprehensible”: Experts say Trump’s $175 million bond makes no sense

[The Duke]

And you cant say that MAGA government, congress/ senators are NOT also abusing the now president of the USA with harassment???

Oh, there's legitimate reasons and proof enough to impeach Biden, but this really isn't a good time for that.

Especially after the last 3 impeachments were total shams.

 

[marvin martian]

Former President Donald Trump’s effort to challenge his massive civil fraud conviction itself appears to rely on deception, The Daily Beast reported Monday.

Last week, Trump posted a $175 million bond to appeal his $454 million fraud conviction in New York — this, after his lawyers claimed he was unable to find anyone willing to guarantee he would actually pay the full amount. In order to post that bond, the former president turned to Knight Speciality Insurance Company, led by billionaire Don Hankey, described by MSNBC legal analyst Lisa Rubin as the “king of subprime car loans.”

But according to former regulators and other legal experts, the bond is highly irregular. Per a legal filing, it amounts to little more than a promise that Trump himself could pay the full cost of the bond if he ultimately loses his appeal, The Daily Beast reported, noting that such an arrangement effectively negates “the whole point of an insurance company guarantee.”

It does not appear that Knight Specialty Insurance Co. could even cover the bond if it wanted: according to a court filing, the company has financial reserves of just $138 million. And while a related corporate entity claims a financial surplus of $1 billion, the court filing does not explicitly state that it would be liable.

“Based on the financial statement provided, Knight Specialty is providing a bond that is one-third of its total assets and greater than its surplus, which is incomprehensible for a carrier to underwrite,” Maria T. Vullo, a law professor at Fordham University who previously served as New York’s top financial regulator, told the publication.
“Incomprehensible”: Experts say Trump’s $175 million bond makes no sense

Donald Trump Forced to Reveal His Finances to Save His Properties

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."
Donald Trump forced to reveal his finances to save his properties


Who put up Trump's $175 million bond? A subprime car loan billionaire who has run afoul of regulators
Don Hankey made a fortune building a subprime auto loan empire. Along the way, his companies racked up consumer complaints, regulatory fines and were sued by the DOJ.
https://www.nbcnews.com/business/bu...75-million-bond-subprime-car-loans-rcna146232

Westlake and its subsidiary Wilshire Commercial Capital, the DOJ complaint alleged, illegally repossessed at least 70 vehicles owned by military service members protected under the Servicemembers Civil Relief Act. The companies paid $761,000 to settle the allegations. Five years later, the Justice Department returned with another complaint against Westlake, alleging that it had failed to provide service members with interest rate benefits they were owed under the law. The company paid $225,000 to settle that matter.

“Service members make enormous sacrifices, and we have a responsibility to protect their rights and ensure they have full access to important benefits guaranteed under the law,” said Martin Estrada, U.S. Attorney for the Central District of California, at the time of the settlement.
.........................................................................................................................................
Not surprisingly, everything about this bond arrangement stinks. Not the least of which is the company putting up the bond. The guy who owns it being the the kind of slimeball one would think Don would get in financial bed with. Someone who tried to rip off people in the military. Someone who was fined for his illegal debt collection practices.

Grifters gonna grift.

"Experts". LOL

 

[BluesLegend]

It's Democrats using abusing government power to harass a candidate in an election year. That's what it is.

More, Dems have expanded to waging lawfare now on the bond issuer. Who's surprised? That Trump's bond was reduced then he was able to post it INFURIATED Democrats. They are seething that Trump was able to exercise his rights under the law.

 

[Fort Fun Indiana]

A. I've learned not to pay attention to "experts"
B. The system is rigged against Trump.
C. You have TDS.

"Experts" told us that the covid vaccine would, you know, stop transmission of covid. "Experts" told us we needed to be locked down.
"Experts" told us that putting a piece of cloth over our face would stop transmission of covid.

From now on, I won't be relying on "experts".

Cultism on parade

 

[Fort Fun Indiana]

Oh, there's legitimate reasons and proof enough to impeach Biden, but this really isn't a good time for that.

Especially after the last 3 impeachments were total shams.

There is no evidence.

Pathetic whataboutism denied.

 

[The Duke]

There is no evidence.

Pathetic whataboutism denied.

Has Biden protected the states from invasion? No he has not. That can be easily proven, it's in the news every day.

That violates the Constitution and warrants impeachment, then there's the classified documents and taking bribes stuff, too.

 

[Invisibleflash]

Former President Donald Trump’s effort to challenge his massive civil fraud conviction itself appears to rely on deception, The Daily Beast reported Monday.

Last week, Trump posted a $175 million bond to appeal his $454 million fraud conviction in New York — this, after his lawyers claimed he was unable to find anyone willing to guarantee he would actually pay the full amount. In order to post that bond, the former president turned to Knight Speciality Insurance Company, led by billionaire Don Hankey, described by MSNBC legal analyst Lisa Rubin as the “king of subprime car loans.”

But according to former regulators and other legal experts, the bond is highly irregular. Per a legal filing, it amounts to little more than a promise that Trump himself could pay the full cost of the bond if he ultimately loses his appeal, The Daily Beast reported, noting that such an arrangement effectively negates “the whole point of an insurance company guarantee.”

It does not appear that Knight Specialty Insurance Co. could even cover the bond if it wanted: according to a court filing, the company has financial reserves of just $138 million. And while a related corporate entity claims a financial surplus of $1 billion, the court filing does not explicitly state that it would be liable.

“Based on the financial statement provided, Knight Specialty is providing a bond that is one-third of its total assets and greater than its surplus, which is incomprehensible for a carrier to underwrite,” Maria T. Vullo, a law professor at Fordham University who previously served as New York’s top financial regulator, told the publication.
“Incomprehensible”: Experts say Trump’s $175 million bond makes no sense

Donald Trump Forced to Reveal His Finances to Save His Properties

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."
Donald Trump forced to reveal his finances to save his properties


Who put up Trump's $175 million bond? A subprime car loan billionaire who has run afoul of regulators
Don Hankey made a fortune building a subprime auto loan empire. Along the way, his companies racked up consumer complaints, regulatory fines and were sued by the DOJ.
https://www.nbcnews.com/business/bu...75-million-bond-subprime-car-loans-rcna146232

Westlake and its subsidiary Wilshire Commercial Capital, the DOJ complaint alleged, illegally repossessed at least 70 vehicles owned by military service members protected under the Servicemembers Civil Relief Act. The companies paid $761,000 to settle the allegations. Five years later, the Justice Department returned with another complaint against Westlake, alleging that it had failed to provide service members with interest rate benefits they were owed under the law. The company paid $225,000 to settle that matter.

“Service members make enormous sacrifices, and we have a responsibility to protect their rights and ensure they have full access to important benefits guaranteed under the law,” said Martin Estrada, U.S. Attorney for the Central District of California, at the time of the settlement.
.........................................................................................................................................
Not surprisingly, everything about this bond arrangement stinks. Not the least of which is the company putting up the bond. The guy who owns it being the the kind of slimeball one would think Don would get in financial bed with. Someone who tried to rip off people in the military. Someone who was fined for his illegal debt collection practices.

Grifters gonna grift.

 

[Batcat]

Former President Donald Trump’s effort to challenge his massive civil fraud conviction itself appears to rely on deception, The Daily Beast reported Monday.

Last week, Trump posted a $175 million bond to appeal his $454 million fraud conviction in New York — this, after his lawyers claimed he was unable to find anyone willing to guarantee he would actually pay the full amount. In order to post that bond, the former president turned to Knight Speciality Insurance Company, led by billionaire Don Hankey, described by MSNBC legal analyst Lisa Rubin as the “king of subprime car loans.”

But according to former regulators and other legal experts, the bond is highly irregular. Per a legal filing, it amounts to little more than a promise that Trump himself could pay the full cost of the bond if he ultimately loses his appeal, The Daily Beast reported, noting that such an arrangement effectively negates “the whole point of an insurance company guarantee.”

It does not appear that Knight Specialty Insurance Co. could even cover the bond if it wanted: according to a court filing, the company has financial reserves of just $138 million. And while a related corporate entity claims a financial surplus of $1 billion, the court filing does not explicitly state that it would be liable.

“Based on the financial statement provided, Knight Specialty is providing a bond that is one-third of its total assets and greater than its surplus, which is incomprehensible for a carrier to underwrite,” Maria T. Vullo, a law professor at Fordham University who previously served as New York’s top financial regulator, told the publication.
“Incomprehensible”: Experts say Trump’s $175 million bond makes no sense

Donald Trump Forced to Reveal His Finances to Save His Properties

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."
Donald Trump forced to reveal his finances to save his properties


Who put up Trump's $175 million bond? A subprime car loan billionaire who has run afoul of regulators
Don Hankey made a fortune building a subprime auto loan empire. Along the way, his companies racked up consumer complaints, regulatory fines and were sued by the DOJ.
https://www.nbcnews.com/business/bu...75-million-bond-subprime-car-loans-rcna146232

Westlake and its subsidiary Wilshire Commercial Capital, the DOJ complaint alleged, illegally repossessed at least 70 vehicles owned by military service members protected under the Servicemembers Civil Relief Act. The companies paid $761,000 to settle the allegations. Five years later, the Justice Department returned with another complaint against Westlake, alleging that it had failed to provide service members with interest rate benefits they were owed under the law. The company paid $225,000 to settle that matter.

“Service members make enormous sacrifices, and we have a responsibility to protect their rights and ensure they have full access to important benefits guaranteed under the law,” said Martin Estrada, U.S. Attorney for the Central District of California, at the time of the settlement.
.........................................................................................................................................
Not surprisingly, everything about this bond arrangement stinks. Not the least of which is the company putting up the bond. The guy who owns it being the the kind of slimeball one would think Don would get in financial bed with. Someone who tried to rip off people in the military. Someone who was fined for his illegal debt collection practices.

Grifters gonna grift.

There were no victims in the trial but Trump has to put up a ridiculous amount of money to even appeal?

Give me a break.

I want a fair judicial system not one rigged by corrupt Democrats.

Expert says thereâs no evidence of fraud in Trump case as ex-president claims âthe bank loves usâ

NYU professor Eli Bartov says ‘no evidence of concealment’ while ex-president says ‘there were no victims’

www.theguardian.com

Major investors pull business from New York City following Trump verdict

Real estate mogul Grant Cardone and Shark Tank investor Kevin O'Leary announced they would no longer invest in the state after the Trump fraud case verdict.

www.washingtonexaminer.com

 

[Kruska]

It's Democrats using abusing government power to harass a candidate in an election year. That's what it is.

Even if, then your Fuehrers constant lies and deceptions onto the Democrats and Biden are on par.

And doesn't logic dictate, that a person who incited an insurrection needs to be treated as the public's enemy # one?

 

[The Duke]

Even if, then your Fuehrers constant lies and deceptions onto the Democrats and Biden are on par.

And doesn't logic dictate, that a person who incited an insurrection needs to be treated as the public's enemy # one?

 

[Smokin' OP]

Does giving back stolen property nullify the crime? Nope.

Then why aren't all the other presidents being prosecuted?
Only the moron who lied about is.

 

[Foolardi]

Hey stupid, Trump had no control over when these cases were brought.

What a moron.

Moronism is making a big comeback.Like clapping at a
Cock fight.While munching on buttered popcorn.

 

[Foolardi]

Then why aren't all the other presidents being prosecuted?
Only the moron who lied about is.

Because we're stuck in a persecution phase.Like fattening
up cattle prior to their going off to market.
Where they lose all God's rights.Freedom to live,graze
and of course fart.
Trump could start a fad.To show one's ability to be Free
and crazy as a Fox,if need be.
Since Trump is a very big healthy eater then of course
passing gas shouldn't be too taxing.
Start a fad.
Farting for a Better America.
I mean if nothing else to prove that Citizens are no less
than Cattle.Forget about what Harry Reid and son pulled
in April of 2014.Known throughout the States as the
Bundy Ranch Standoff in Nevada.

 

[Nostra]

Then why aren't all the other presidents being prosecuted?
Only the moron who lied about is.

Double standard, Moron.

Where have you been?

 

[Foolardi]

Double standard, Moron.

Where have you been?

Imagine if one will,that responce given at a Presidential
debate.I mean,with Biden any nincompoop reply is taking
advantage of the Elderly.

 

[Smokin' OP]

Because we're stuck in a persecution phase.Like fattening
up cattle prior to their going off to market.
Where they lose all God's rights.Freedom to live,graze
and of course fart.

God's rights?
God didn't give people rights.
It may appear so, but that book was written by a person.

Trump could start a fad.To show one's ability to be Free
and crazy as a Fox,if need be.

Trump did start a fad, in his own party...................Blatant corruption.
Before Trump, at least they tried to keep it hidden.

Since Trump is a very big healthy eater then of course
passing gas shouldn't be too taxing.
Start a fad.
Farting for a Better America.
I mean if nothing else to prove that Citizens are no less
than Cattle.Forget about what Harry Reid and son pulled
in April of 2014.Known throughout the States as the
Bundy Ranch Standoff in Nevada.

Sure.............Let me bring my herd of goats, over to your property, let them graze for years, then not give you a dime for it.

 

[Smokin' OP]

Double standard, Moron.

Where have you been?

No, it isn't, dumbass.
Who lied about them?
Who is claiming the documents were declassified by his mind?
Who didn't give the documents back, when requested to do so?

 

[Foolardi]

God's rights?
God didn't give people rights.
It may appear so, but that book was written by a person.

Trump did start a fad, in his own party...................Blatant corruption.
Before Trump, at least they tried to keep it hidden.


Sure.............Let me bring my herd of goats, over to your property, let them graze for years, then not give you a dime for it.

Many ... Oddles of men { Aristocrats,Greek gods and even a few
overly educated big mouths { Haters of God.Mother Teresa and
Religion in general } like Christopher Hitchens discussing ,imploring
what Mankind has learned about God and civilization since
time immemorial.

" All things are pure to the pure. ... Man is the
handwork of God.There is certainly nothing in us
that is impure. "
-- Saint Athansius { Bishop of Alexandria } 293-373
B.C. or A.D. { flip a coin }

 

[Foolardi]

No, it isn't, dumbass.
Who lied about them?
Who is claiming the documents were declassified by his mind?
Who didn't give the documents back, when requested to do so?

Joe Biden has been a complete Scoundrel when it comes
to classified Docs.Having them,possessing them,keeping them,
hiding them,Lying about having,and possessing and keeping
them all while Not a Potus.Starting back who knows how
long before he was Massa Obama's servant boy { V.P. }
Fir starters.

 

[Smokin' OP]

Joe Biden has been a complete Scoundrel when it comes
to classified Docs.Having them,possessing them,keeping them,
hiding them,Lying about having,and possessing and keeping
them all while Not a Potus.Starting back who knows how
long before he was Massa Obama's servant boy { V.P. }
Fir starters.

Sure................Too bad republicans can't PROVE it.

When is Hannity testifying?