What was the alleged fraudulent practice ? What mess ? Was the cash in the money market account or not ? Is the cash still there or not ?PizzaSnake wrote: ↑Thu Apr 25, 2024 12:26 amNope. They were intransigent. Original bond was rejected. Next attempt was this mess and included a cover page from the EJ Carroll bond. They were clearly up to the usual fraudulent practices DJT has used his entire "career." They had a chance to use a non-hearing venue, and they failed. How many bites at the apple should a convicted fraudster get? How many do you think you'd get?old salt wrote: ↑Wed Apr 24, 2024 9:37 pmAs I said. It did not require another Court hearing with all the attendant hype that Trump's bond was being invalidated.PizzaSnake wrote: ↑Wed Apr 24, 2024 9:29 pmThe “key” issue here is that the account could NOT be under the convicted fraudster’s control.old salt wrote: ↑Tue Apr 23, 2024 10:46 pm...Trump's cash will continue to earn interest until the absurd judgement against him is reduced or overturned on appeal.OCanada wrote: ↑Tue Apr 23, 2024 10:01 pmPure BS. There are still a couple of questions. The proposed bond is not cash or a cash equivalent. Nor is it stock.old salt wrote: ↑Tue Apr 23, 2024 9:07 pmI know that a Money Market account is a cash account. I have two of them. It was not a brokerage account. Apparently James & the Judge did not recognize the difference.PizzaSnake wrote: ↑Tue Apr 23, 2024 8:57 pmSure it was. And you practiced law, specifically ad a litigator, where? Tell me about your familiarity with bind surety analysis, please.old salt wrote: ↑Tue Apr 23, 2024 8:46 pmIt wasn't hyped as just "fine tuning" an agreement. It was a request by James to disallow the bond. It should not have required a court hearing & all the hype. It was a media stunt that backfired on James.Seacoaster(1) wrote: ↑Tue Apr 23, 2024 6:33 amThanks for providing Alina Habba's view of the case. Pretty rich coming from you.old salt wrote: ↑Tue Apr 23, 2024 3:05 am...what a colossal waste of time ! "Justice" in NY is a joke.dislaxxic wrote: ↑Fri Apr 19, 2024 8:11 pm New York AG Asks Judge to Reject Trump’s [Civil Fraud] $175 Million Bond
If he DOES...THEN what?
https://nypost.com/2024/04/22/us-news/t ... t-finance/
Speaking outside the courtroom Monday, Trump attorney Alina Habba blasted James for questioning the legitimacy of the bond and quipped to reporters that the money “isn’t green enough” for the attorney general.
“We wasted time,” Habba said. “The judge said he thought money market accounts go down under the amount — he doesn’t understand basic principles of finance.
“The attorney general and that judge realized quickly that they had no idea what they were talking about,” she said. “We came to an agreement that everything would be the same, we would modify terms, and that was it. This is where your taxpayer dollars are going, America. Right here: witch hunt after witch hunt.”
Trump lawyer Christopher Kise later piled on in a pointed media statement.
“Despite another flawed and desperate protest by the Attorney General, President Trump is pleased the Court determined the $175 miilion he posted in cash is worth $175 million, and the bond form in use in the New York court system for a century is in fact acceptable,” he said.
The hearing was to evaluate the bond and void it if Trump and the surety didn't agree to new conditions, which they did. Knight Specialty Insurance Company will retain "exclusive control" of the $175 million account, and the company and Trump will provide a monthly account statement certifying that there are sufficient cash funds for the bond. The Company has agreed to designate an agent for service of process in New York in the event NY has to sue on the bond. And Trumo and the Company agreed that the terms of the bond cannot be amended without notice to the AG and approval of the court. Basic effort to tighten up the terms of the surety in the event NY has to execute its judgment.
All pretty routine fine tuning of an agreement while appeal is pending. But you take Habba's word for it that it was a "waste of taxpayer's money." Sure. Is there anything you aren't in the bag for here?
https://news.yahoo.com/trump-cedes-cont ... MBy1J3JvRB
The agreement reached in civil court in Manhattan essentially moves the all-cash collateral to a Trump-proof lockbox. Only the bond underwriter, Knight Specialty Insurance Company, has the key.
Previously, Trump and Knight shared control of the cash, a sticking point for the AG's office.
Monday's agreement was reached during a 20-minute huddle among the lawyers, Law360 reported.
The hearing revealed that the cash, held in a Charles Schwab account pledged to KSIC, has already earned Trump $700,000 in interest, the outlet reported.
The bond keeps AG Letitia James from potentially seizing Trump's assets to satisfy the more than $454 million he owes the state after losing last year's civil fraud trial.
You do understand Trump has been convicted of fraud, correct?
Why would the plaintiff, the State of NY, represented by the NY AG, not move to have the bond that stays collection of the judgement, out of Trump’s control and access? Do you suppose you would, post conviction fir fraud, be allowed control over a cash surety bond?
Now, do you understand why the AG regarded this bond as inadequate and why it needed to be corrected or ruled invalid?
Please tell me you understand this.
It could have been quietly resolved between the Bond insurer & the AG's office, without all the damp seat cushions at CNN & MSNBC.
James wanted another headline & ended up looking stupid.
James first tried to disqualify the insurer & blew that. She is flailing. The Judge accepted the bond from them.
https://www.reuters.com/markets/us/dona ... 024-04-16/