Trump Defeats NY AG Letitia James (Video)

(DCWatchdog.com) – In a legal confrontation yesterday, former President Donald Trump secured a victory over Democrat New York Attorney General Letitia James.

See a video report on Trump’s win below!

This dispute was centered around the adequacy of a $175 million bond that Trump had posted. The bond was a subject of contention in the broader $454 million civil fraud case.

On Monday, a court ruled in favor of Trump, dismissing James’ concerns regarding the financial capability of the surety company backing this substantial bond, Breitbart News reports.

The legal question arose when Attorney General James expressed skepticism about whether the surety company, tasked with covering Trump’s $175 million bond, had the necessary resources to fulfill its financial commitments.

However, the presiding judge dismissed her doubts and decided that the bond would remain effective.

This bond was initially posted by Trump on April 1, in response to a directive from an appeals court.

This directive followed a judgment, requiring him to post a bond amounting to $175 million as a safeguard.

This action was necessary to prevent the Attorney General from seizing Trump’s assets, pending the outcome of his appeal against a civil fraud judgment set at $464 million.

The appeals court’s decision not only allowed Trump to secure his assets against immediate seizure but also affirmed his right to appeal the civil fraud judgment.

The oral arguments concerning this appeal are scheduled for September.

The underwriting of the $175 million bond was handled by Knight Specialty Insurance Company.

This company had made a commitment to cover the bond amount should Trump lose his appeal and consequently fail to make the payment.

In securing this coverage, Trump compensated Knight Specialty Insurance with a fee and also provided cash as collateral.

In a related judgment earlier this year, Judge Arthur Engoron imposed significant penalties on Trump and the Trump Organization.

In February, they were fined more than $350 million. Furthermore, Trump was prohibited from serving as an officer or director of any New York-based corporation for a period of three years.

Through these legal actions, Attorney General James aims to impose severe financial and professional restrictions on Trump.

Her legal strategy seems designed to not only hold him financially accountable with a $454 million fine but also to permanently exclude him from the real estate market in New York State, effectively seeking to bankrupt him.