Trump’s $175 Million Bond Is Even Shadier Than It Looks

https://www.thedailybeast.com/trumps-dollar175-million-bond-is-even-shadier-than-it-looks

23 comments

  1. Here is the beginning of the story:

    The little-known insurance company that rescued [Donald Trump](https://www.thedailybeast.com/keyword/donald-j-trump) by providing a last-minute $175 million bank fraud [bond](https://www.thedailybeast.com/trump-gets-more-time-to-come-up-with-half-billion-dollar-bond?ref=author) isn’t just [unlicensed](https://www.thedailybeast.com/new-york-ag-questions-if-dollar175-million-bond-insurer-can-save-trump?ref=author) in New York; it hasn’t even been vetted by a voluntary state entity that would verify it meets minimum “eligibility standards” to prove financial stability.

    Perhaps even more troubling, the legal document from Knight Specialty Insurance Company doesn’t actually promise it will pay the money if the former president loses his [$464 million](https://www.thedailybeast.com/trumps-bank-fraud-trial-ends-with-dollar372-million-gut-punch?ref=author) bank fraud case on appeal. Instead, it says *Trump* will pay, negating the whole point of an insurance company guarantee, according to three legal and bond experts who reviewed the contract for The Daily Beast.

    “This is not common… the only reason this would be done is to limit the liability to the surety,” said N. Alex Hanley, an expert in how companies appeal enormous judgments.

    These two points, noted here for the first time, validate the New York attorney general’s concerns that Trump is trying to avoid a financial punishment that could be [catastrophic](https://www.thedailybeast.com/judge-gives-trump-organizations-babysitter-enhanced-control) to his riches and reputation.

    “There are many questions here, and that short piece of paper gives very little comfort,” said Maria T. Vullo, who was formerly New York’s top financial regulator.

    “I believe this paper isn’t worth much and there are more shenanigans behind it,” said one former regulator, who’s intimately familiar with industry norms but spoke only on condition of anonymity.

  3. This whole thing feels like yet another delay tactic, as it will take more time to go after this new bond company while Trump sits untouched.

  4. Any reason the court can’t just demand a bank cheque at this point?

  6. Trump is broke and Knight Specialty Insurance company looks like it broke the law? Goodness.

  7. At this point, you just assume that any individual or company willing to work with him is at best shady, at worst foolish.

  8. He’s taking money from a guy who targets and fucks over **VETERANS** and his base *still* doesn’t flinch.

    Broken beyond repair. Burn it all down.

  9. Imagine that. A conman using some sort of con insurance company. Birds of a feather or something…

  10. Yup, this isn’t even a good faith attempt to place a suitable bond – TFG and the bond Co. both are completely aware that this is not a valid bond.

    TFG is a liar & a fraud. It’s what he does. Please understand that.

    Enough – just start seizing and selling his assets already.

  14. That’s how a motha-effin BOSS handles the bond for appeal of his guilty verdict for *checks notes* financial fraud!

  17. $175 million bond? The shady dealings just keep piling up with Trump.

  20. So when this bond is declared ineligible, they’ll give him another 2 weeks and drop the amount to $20…right?

  21. Sooo…Tish is gonna start seizing trump assets any minute now, right? Annny second… Yessir….h

  23. Shocker….this man’s whole miserable life has been one con after the next.

    It should come to no one’s surprise he is once again doing something shady. At what point does this move up the ladder to become a criminal offense? I mean he has already been found liable of fraud and is using what could be fraudulent documents to post a fine to appeal, you guessed it…fraud.

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