Trump Indictment ( includes NY AG and Fed documents case ) (1 Viewer)

[SteveSBrickNJ]

Former President D. Trump has been indicted by a New York Grand Jury. There will be much to talk about on this topic because this is just the first step in a lengthy process.
Possibly it is worthy of its own thread here rather than posting about Trump's indictment in already existing threads?
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This 3/31/23 story might get the ball rolling....
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Manhattan’s DA wanted a Friday Trump arrest. Trump’s team said no.

Secret Service needed more time to prepare, according to the ex-president’s legal team.

www.yahoo.com

 

[superchuck500]

This is a good thread, I think:







I’ve only posted the first few tweets. He thinks Smith’s next move will be this:

“Therefore, I agree with @BradMossEsq et al saying that Jack’s next move seems to be a motion in limine (before trial) demanding that Cannon bar Trump from arguing that the PRA can confer authority to possess classified docs. Frustrating, but I think that’s his best bet.”

I’d have to confirm my belief on this but I don’t think a motion in limine is appropriate to try to bar a party’s assertion of a legal premise/argument. Motions in limine relate to how evidence is used and can be used to control an argument as to a piece or set of evidence - but a broad prohibition of a legal defense isn’t a proper motion in limine in my view. It would be a basis for a partial summary judgment motion but that’s a civil device, not criminal.

I guess his premise here is to try to get some kind of ruling from her on it but you can’t take immediate appeal on a motion in limine anyway.

 

[MT15]

Well, how do you keep a judge tanking a case like it appears she is trying to do? She is mis-construing the law, from what I have read. This case is open-and-shut and somehow she seems to be intent on getting Trump out of it.

 

[MT15]

 

[fooferdoggie]

poor trump . I guess they cant afford it after financing trumps businesses. another trump flake. hope they ream him money is all that hurts him. Let's see if he starts selling stocks.

 

[Lapaz]

Knight Specialty claims to be authorized to provide the bond in New York through Excess Line Association of New York, a nonprofit created by New York State that serves as a facilitator between brokers and regulators. That seems to be easy to prove, so I think the issue will be can Knight Specialty prove that they have 175M liquid assets.

 

[UriUT]

Crazy if this reporting is verified. Not only not enough cash on hand...

The document seems to suggest that the smaller company is somehow strengthened by the existence of the larger one. But only the smaller company is actually listed on the bond agreement.

In reality, though, a strict reading of “Bond No. 350588” shows that even the smaller company isn’t technically on the hook for paying out the $175 million if higher courts ultimately cement his loss to the AG.

Buried in the typical legalese of the contract is the phrase: “Knight Specialty Insurance Company… does hereby… undertake that if the judgment… is dismissed… Donald J. Trump… shall pay… the sum directed.”

In other words: If Trump loses the case, Trump will pay. But that’s no different than Trump’s obligation before the bond was issued.

So this bond doesn't even guarantee that the bond company pays if Trump loses unlike the Carroll bond. Unreal.

 

[fooferdoggie]

[

So this bond doesn't even guarantee that the bond company pays if Trump loses unlike the Carroll bond. Unreal.

thats classic trump. the man (I use that term loosely) ca't manage to do anything honestly but yet he is the second Jesus.

 

[FullMonte]

Crazy if this reporting is verified. Not only not enough cash on hand...




So this bond doesn't even guarantee that the bond company pays if Trump loses unlike the Carroll bond. Unreal.

What I have heard (or at least how I understood it) was that if...I mean when, Trump loses his appeal, Trump will be on the hook for the judgement amount. If Trump does not pay it, then the bond company will be responsible. Basically, the bond company is promising to pay if Trump doesn't.

 

[fooferdoggie]

What I have heard (or at least how I understood it) was that if...I mean when, Trump loses his appeal, Trump will be on the hook for the judgement amount. If Trump does not pay it, then the bond company will be responsible. Basically, the bond company is promising to pay if Trump doesn't.

I can't imagine any bond company taking that bet with trumps record.

 

[FullMonte]

I can't imagine any bond company taking that bet with trumps record.

I assume they have some kind of collateral…not sure how good that is for them.

 

[efil4]

What I have heard (or at least how I understood it) was that if...I mean when, Trump loses his appeal, Trump will be on the hook for the judgement amount. If Trump does not pay it, then the bond company will be responsible. Basically, the bond company is promising to pay if Trump doesn't.

That's precisely how a bond works.

It pays. Then it can seek reimbursement from the insured. Hope they didn't take DJT stock.

When I heard that Knight wasn't admitted to NY, I knew this wasn't a "standard carrier". Then I read they do insurance and loans for high risk clients in California.

Tells you exactly how the major bond companies viewed Trump risk. The only company to offer is cloaked in holding cos.

Read the article...they are indeed Excess and Surplus lines. (Not admitted) which is perfectly legal and not uncommon ( most of LA carriers are now non admitted/excess surplus lines carriers because none of the major carriers want to write here )

With that said, you do have to do more due diligence because these carriers are not subjected to the regulators at State Dept of Insurance. (Specifically with respect to financials/reserves etc). And here it seems that this company that issued the bond doesn't have the reserves to pay in the event of default. Amazing they thought they could pull this off.

 

[UriUT]

What I have heard (or at least how I understood it) was that if...I mean when, Trump loses his appeal, Trump will be on the hook for the judgement amount. If Trump does not pay it, then the bond company will be responsible. Basically, the bond company is promising to pay if Trump doesn't.

This is my understanding. In order to appeal, he had the option of posting a bond plus a percentage based on new york laws. If he does not, the state can start collecting the judgment after a date. The bond is to protect the state or Carroll. So based on the article, the bond for the carroll verdict has the surety obligated to the full verdict plus the interest etc. This protects Carroll in case Trump cannot pay during the appeal. Contrary to that bond contract, the fraud case is different. First, the bond company doesn't even have the cash. Second, the language of the contract defers the obligation to Trump and not the surety if Trump loses the appeal. Third, the bond only guarantees up to the 175 million bond and no more. None of that protects the state, which is the reason for the bond. Trump is trying to hold off the state from collecting immediately by posting a very suspicious bond.

Also, when the appeals court reduced the bond to 175 million, I thought, "what if he cannot afford that amount after all the bluster. It would be so hilarious if he cannot even pay for that bond...a billionaire". Well, we're fast approaching that. LOL

 

[efil4]

Second, the language of the contract defers the obligation to Trump and not the surety if Trump loses the appeal.

Then, by definition, that isnt a surety bond.

Im curious to see if this attempt is considered fraud.

 

[fooferdoggie]

I assume they have some kind of collateral…not sure how good that is for them.

listening to Racheal meadow the company is pretty bad very scummy. I mean your typical company that works with trump. they have loaned trump a lot of money and Jared too. they will own trump.

 

[MT15]

Then, by definition, that isnt a surety bond.

Im curious to see if this attempt is considered fraud.

I don’t know if it’s fraud, and I know way less than you about this, but reporters were writing that the bond was worded abnormally.

 

[FullMonte]

Then, by definition, that isnt a surety bond.

Im curious to see if this attempt is considered fraud.

And NOW we hear that Trumps lawyers ran to the appellate court claiming it was a “practical impossibility” to get a $450 million bond, as no one would cover that…and after making that claim, a billionaire approached Trumps team stating that he would cover it, and the lawyers never notified the courts about that.

 

[J-DONK]

Am I the only person who thinks he just trying to gum this up until he can sale his shares in Truth Social to pay the judgement?

 

[fooferdoggie]

Am I the only person who thinks he just trying to gum this up until he can sale his shares in Truth Social to pay the judgement?

well that wont work it seems.