JUST IN: Letitia James Poised to Begin Seizing Trump's Properties
Attorney General Letitia James is poised to begin seizing Donald Trump's properties as an insurance company will not be permitted to post a $175 million bond for Trump while he appeals a fraud judgment.
Knight… pic.twitter.com/Nt2ZyvfCWe
— Kyle Becker (@kylenabecker) April 8, 2024
New York Attorney General Letitia James may begin seizing Donald Trump’s assets and property as it emerges the former president’s bond pledgers could lack the funds to pay his bond.
A former federal state prosecutor Eric Lisann said that Knight Specialty Insurance (KSI) may not be able to post a $175 million (£138 million) bond for Donald Trump whilst he appeals his fraud judgment. Dave Kingman, also a former lawyer, who previously said that KSI would not pay the bind, had said the Attorney General, Letitia James will thus be able to start enforcement proceedings on Trump’s properties.
A New York court rejected KSI’s paperwork and asked for more information on its financial backing for the bond, the firm then filed new paperwork on April 4. The $175 million bond must be paid to avoid Trump’s assets being obtained by Ms James after a judge fined him $454 million (£359 million) for fraudulently inflating the value of his assets in February.