Ilhan Omar expresses pride in daughter following her talk and arrest at anti-Israel protest in NYC

Ilhan Omar expresses pride in daughter following her talk and arrest at anti-Israel protest in NYC. New York Attorney General Letitia James is seeking to void the $175 million bond posted by former President Donald Trump to appeal his civil fraud case, citing concerns over the insurance company’s ability to back it up. In a 26-page filing, James argues that California-based Knight Specialty Insurance Company (KSIC), which posted the bond, is not authorized to write business in New York and has insufficient funds to cover the amount.

James points out that KSIC has a total policyholder surplus of only $138 million, which is far less than the $175 million bond. According to New York state law, smaller businesses like KSIC are not permitted to expose themselves to liabilities greater than 10% of their surplus. This means that KSIC is only permitted to write a bond with a maximum value of $13.8 million, significantly less than the $175 million bond posted.

Furthermore, James alleges that KSIC’s management has been found to have operated affiliated companies in violation of federal law on multiple occasions in the past. She also notes that KSIC does not have exclusive control over the account and will not obtain such control unless it exercises a right to do so on two days’ notice.

“Those of us in Gaza Solidarity Encampment will not be intimidated,” Hirsi wrote on X.

James is seeking to have the court deny Trump’s motion and require him to post a replacement undertaking within seven days of the court’s ruling. This comes after Judge Arthur Engoron ruled in September that Trump and the Trump Organization had committed fraud by deceiving banks, insurers, and others by overvaluing his assets and exaggerating his net worth.

The judge also prohibited Donald Trump Jr. and Eric Trump from serving as an officer or director of any New York corporation or legal entity in New York for two years. Trump has repeatedly denied any wrongdoing, calling the case a “witch hunt.”

The hearing on the matter is set to take place on Monday, concurrently with the opening statements in Trump’s New York criminal trial. James brought the lawsuit against Trump, accusing him and the Trump Organization of fraudulent business practices, including committing “numerous acts of fraud and misrepresentation” on their financial statements.

Trump has pleaded not guilty on all counts. The case has significant implications for Trump and his business empire, and the outcome of the hearing on the bond could have a major impact on the proceedings.

In addition to the civil fraud case, Trump is also facing a criminal trial in New York, where he is accused of falsifying business records and scheming to defraud. The trial is expected to begin on Monday, with opening statements from both the prosecution and defense.

The developments in the case come as Trump faces increasing legal scrutiny, with multiple investigations and lawsuits pending against him. The outcome of these cases could have significant implications for Trump’s political and business future.

The push by James to void the bond is a significant development in the case, as it raises questions about Trump’s ability to meet the financial obligations of the appeal. If the bond is voided, Trump may be required to post a new bond or face potential consequences, including the possibility of his assets being frozen.

The case has already had significant implications for Trump’s business empire, with the judge’s ruling in September resulting in the Trump Organization being banned from engaging in any commercial real estate transactions in New York for five years.

The developments in the case are being closely watched by legal experts and political observers, who see the case as a significant test of the legal system’s ability to hold powerful individuals accountable for their actions.

In conclusion, the push by New York Attorney General Letitia James to void the $175 million bond posted by former President Donald Trump to appeal his civil fraud case raises significant concerns about the insurance company’s ability to back it up. The case has major implications for Trump and his business empire, and the outcome of the hearing on the bond could have a major impact on the proceedings. The developments in the case come as Trump faces increasing legal scrutiny, with multiple investigations and lawsuits pending against him. The outcome of these cases could have significant implications for Trump’s political and business future.

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