Trump’s Bond Insurer Doesn’t Seem To Have The $175M It’s Guaranteeing

According to The Daily Beast, New York Attorney General Letitia James has very good reason to question “the surety” of Knight Specialty Insurance Company, the company that rescued Trump from his $175 million bond requirement to appeal the $464 million judgment against him in the New York fraud case. For one thing, its free cash does not meet New York State requirements for a bond. For another, the company does not seem to have authorization to do business in New York.

It looks like Trump’s lawyers tried to cover up his savior’s financial insufficiency.

From TDB:

On Thursday, Trump’s lawyers posted paperwork listing the finances behind two companies—Knight Specialty Insurance Company and another entity named Knight Insurance Company LTD—which together claim to have assets totalling $2.7 billion. However, only the first of those two is actually listed in the court documents as agreeing to front the money if Trump loses the case.

Knight Specialty Insurance Company alone doesn’t have the “surplus” listed in financial statements to meet the capital requirements for posting the bond. New York law limits how much money state-regulated surety companies can post on a single bond to 10 percent of what’s referred to as the firm’s total “capital and surplus.”

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