(New York) The Attorney General of the State of New York, Letitia James, requested on Friday the cancellation by the courts of the guarantee of 175 million dollars posted by Donald Trump in the financial fraud case in which he was fined of a fine of $454 million, according to a court document.
This guarantee was deposited on 1er April by the former President of the United States, and allowed him to fend off the humiliating prospect of legal seizures of his assets, while appealing the conviction.
But in a document filed Friday, three days before a hearing on the validity of this guarantee, the attorney general’s services ensure that it must be canceled.
“Rather than choosing as surety a large national insurance company licensed in New York, experienced in underwriting bond guarantees and whose liquidity is well in excess of $175 million,” Donald Trump “preferred to choose Knight Specialty Insurance Company (KSIC), a small insurer that is not licensed to do business in New York […] who has never taken out a bond in New York or in the previous two years in any other jurisdiction, and who has total liquidity of $138 million,” they state.
PHOTO DAVID DEE DELGADO, REUTERS ARCHIVES
Letitia James, New York Attorney General
Donald Trump was sentenced in mid-February to $454 million in fines with his sons Eric and Donald Jr., for financial fraud within their real estate empire Trump Organization.
They were accused of having inflated the assets of their real estate assets, such as the Trump Tower or the 40 Wall Street building in New York, to the tune of several billion dollars throughout the 2010s to be granted larger loans. favorable from the banks.
After the conviction, New York State Attorney General Letitia James threatened to launch legal seizures to recover the value of the fine, citing the building at 40 Wall Street.
The hearing on this guarantee is scheduled for Monday, the day when Donald Trump’s first criminal trial, centered on hidden payments to a former porn star to buy his silence in the middle of the 2016 presidential campaign, will get to the heart of the matter with opening remarks from the prosecution and defense.