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

[IDIOCRACY]

 

[postman]

True that.
Rather than legal cases intended to interfere in a candidacy.
We have a candidacy intended to interfere with criminal cases.
IMHO

------------------------------------------------

Excellent.

 

[ColonelAngus]

If Trump didnt pay his taxes, why isnt the Biden DOJ going after that through the IRS?

I thought it was a huge deal to see his tax returns.

 

[ColonelAngus]

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.

Sandy vag, it happens.

 

[Billiejeens]

You exhibit the simplistic thinking of a ten year old. It's why you're a MAGAist.

You are the most deeply imbedded Cultist that we have ever encountered.

 

[berg80]

Excellent.

Spot on. This is the first candidacy in US history with the primary goal being for the candidate to stay out of prison.

 

[Billiejeens]

At least we know why he was unwilling to release his tax returns.

Why?

 

[berg80]

You are the most deeply imbedded Cultist that we have ever encountered.

IRONY ALERT!

 

[Billiejeens]

Well, you know, Biden has taken a lot of bribes, and that's illegal. As is a Senator absconding with classified documents.

Democrats are not currently subject to penalties for breaking US law.
This November will be a referendum on whether or not that continues into perpetuity.

 

[Foolardi]

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.

I get it.Make Trump and anyone willing to support him into
a snarky Bad person.That's the uber nefarious plot being
hatched by the Country's Real Bad Guys.
My Proof.NBC and subsequently MSNBC did not hire
and then quickly fire RNC chair Ronna McDaniel because she was
a Republican.They fired her SPECIFICALLY because she Spoke well of
Donald Trump.That's It folks.It's now a contagion the left hopes will
undue Trump and his becoming less and less popular.
Today's left is virtually banking on that plot.

 

[Billiejeens]

I get it.Make Trump and anyone willing to support him into
a snarky Bad person.That's the uber nefarious plot being
hatched by the Country's Real Bad Guys.
My Proof.NBC and subsequently MSNBC did not hire
and then quickly fire RNC chair Ronna McDaniel because she was
a Republican.They fired her SPECIFICALLY because she Spoke well of
Donald Trump.That's It folks.It's now a contagion the left hopes will
undue Trump and his becoming less and less popular.
Today's left is virtually banking on that plot.

And yet the exact opposite is happening, and Berg is destined to have a stroke over it.

 

[CrusaderFrank]

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.

Commies gotta Commie

I don’t even like Trump but you Commies are setting yourselves up for serious Karma

 

[Foolardi]

Democrats are not currently subject to penalties for breaking US law.
This November will be a referendum on whether or not that continues into perpetuity.

Not that it needs explaining ... But Today's left is not in any
way relatable to J.F.K.'s Democrat base.Nor for that Matter
the leftism of a George McGovern.
Today's left is whacked-out and unapproachably
suffering Delusions of Grandeur just by constant
bad mouthing of all Things Donald Trump.

 

[Foolardi]

You are the most deeply imbedded Cultist that we have ever encountered.

Or watch for this Summers new DNC slogan at their
Convention :
- Close Encounters of the Feeble Minded -

 

[sartre play]

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

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

 

[postman]

If Trump didnt pay his taxes, why isnt the Biden DOJ going after that through the IRS?

I thought it was a huge deal to see his tax returns.

Statute of limitations on most of them.

The IRS only began to audit Trump's 2016 tax filings on April 3, 2019, more than two years into Trump's presidency

Plus they only put ONE agent on the case.

 

[Nostra]

Trump strategy was simple.
Stall the cases until the election year.
And then claim they were election interference.

Kinda like a kid in HS stalling his term paper until days before its due, and then complaining he doesn't have enough time to do it.

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

What a moron.

 

[Nostra]

Yes, it is.
If only republicans or their witnesses that weren't going to jail, could PROVE it.
If only they would testify to that fact.
So far...............

View attachment 929588

Oh' darn.
Which politician gave them back, when asked and without incident?
EVERY ONE..............Except Nixon and TRUMP.

Does giving back stolen property nullify the crime? Nope.

 

[Nostra]

The problem is Biden didn't purposefully keep any of the documents. Just like Mike Pence didn't purposefully keep any of the classified documents he had after he left office.

You can't accidently steal classified docs from a SCIF numerous time, moron.

 

[Chillicothe]

Democrats are not currently subject to penalties for breaking US law.

-------------------------------------------------------------
BJ, I gotta tell you poster, statements like that make you sound like a silly girl. Or boy, for that matter.

Think about it, all of the arrests on the police blotter each weekend are ALL Republicans? That no Dems get arrested, arraigned, tried, convicted, jailed?
That our prisons are filled with only Republicans?

Your avatar could do better by you, BJ. Or, conversely, you make your avatar look bad.

In my opinion.