Donald Trump’s collateral in $175m bond revealed

https://www.newsweek.com/trump-letitia-james-arthur-engoron-manhattan-fraud-case-bond-knight-1890739

29 comments

  2. Donald Trump’s Collateral = Lots of stuff taken from the WH and gifts from NK

  3. If he had $175 mil in cash to provide Knight, why not post bond himself?

  5. Man, this company has lost MORE than $40 in stock valuations in only 20 days. more than 6.5 Billion dollars.

  6. >[Trump and Knight Specialty Insurance’s] joint statement, filed to Judge Arthur Engoron Monday, said KSIC’s $175 million bond was collateralized by the $175,304,075.95 Trump had placed in a Charles Schwab bank account and which was specifically pledged to KSIC.

    Well that should be really damn easy to demonstrate to the court… or not.

  7. If the bond was in cash, why didn’t he just pay himself and why did it take so long to make a statement on it…?

    I wonder if it has anything to do with fraudulent claims that can’t be backed by evidence, similar to the fraud case he’s appealing here 🤔

  8. NAL He did this to not lose access to the money. Once the state has it, he can not get it back. Right now, he just gave it to some guy who could give it back. Plus, the contract submitted for the bond says that it’s up to Trump to pay, not the bond holder. The plan was always to just send it back to Trump

  9. Do the documents show that this was done before posting the bond?

  10. If they put it in put options, they would get rich from this grift

  11. >Their joint statement, filed to Judge Arthur Engoron Monday, said KSIC’s $175 million bond was collateralized by the $175,304,075.95 Trump had placed in a Charles Schwab bank account and which was specifically pledged to KSIC.

    …

    >It said KSIC, the Trump Trust and Charles Schwab bank entered into a “Pledged Asset Account Control Agreement, by which KSIC can exercise the right to control the account within two business days by submitting a letter to Schwab of its intent to activate that control.”

    >”Thus the $175 million bond is fully collateralized by $175 million in cash,” the filing continued.

    So the bond actually IS supported by collateral? Then why all the fuss about trying to keep the arrangements secret?

  12. So to be clear, this is just so that he can appeal the ruling?

  13. >KSIC’s $175 million bond was collateralized by the $175,304,075.95 Trump had placed in a Charles Schwab bank account and which was specifically pledged to KSIC.

    There, I saved you the click.

  15. It’s all a con. No one wants to give up this bond because it is good money after bad. Everyone assumes Trump will not win his appeal, so no one is willing to throw away the money. Trump has to somehow fake it, and he was caught. Now they say their proof is “overwhelming” and I gotta call bull.

  17. It’s been proven beyond doubt now that money can neutralize our court system.

  18. The thing should read that Night will exercise the right, not that they can. 

  19. Pledged? Ignoring if this money is legit etc etc….is this just his typical “I’ll pay you after, I promise! I’m good for it, I’m rich you know!” Before he stuffs them and never pays?

  21. Trump collateralized this debt with all the money he grifted off his pump and dump social media disaster. Suckers buying DJT paid his bond.

  22. Bialystock & Bloom also have dibs on the Schwab account.

  23. If he has the cash on hand, why pay someone a commission for a bond? This makes zero sense to me.

  24. So there is $175 Million in cash according to the filing. However, Knight says there can be other assets as long as the “value” remains above that mark. I’ll bet we see DJTM stocks quietly swapped in for cash if this bond is accepted. It allows him to sort of liquidate his stock without selling and causing further decreases while leaving Knight with a steaming pile. If that’s the angle, I guess Knight is in on the scheme and wants to own DJTM – which is odd since I can’t imagine trump would stick around and it loses all value both for trump and truth social users. It’s not like it would buy them much influence to own a dead platform?

  26. I was under the impression that the agreement between the insurance company and the Trump org was terrible. Once reviewed, it did not hold the insurance company liable for the actual payment, which is the reason you get a surety bond.

    This is also why you would want a company that is ‘authorized to provide coverage in the state,’ as they would be bound by, and responsible for, following the laws of the state of New York. If I had to guess, as I am not a lawyer, require insurance companies providing surety bonds to have the funds to cover their clients’ judgements, should they lose appeal.

  27. Reading the comments, I have realized that I am a simple moron. None of this shit makes sense to me.

  28. The next question is where did the money from Trump come from? 

    New York has anti-money laundering laws that require agents like bonding  companies to verify that funds they are receiving are from legitimate sources.

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