Discussion » Questions » Legal » Guess who’s $175 million dollar bond might be worthless?

Guess who’s $175 million dollar bond might be worthless?

Donald J Trump of course. Trump’s surety bond was missing vital information typically included in bond fillings.

"There seem to be serious issues," said Bruce H. Lederman, an attorney who has filed many bonds in New York, including for a real estate developer challenging a judgment. Lederman said he was struck by "glaring errors" in the bond. "In all the years I've been doing this, you always have to have a certificate from the Department of Financial Services saying that you're licensed to issue a surety bond," he said, referring to the missing certificate of solvency under Section 1111 of New York Insurance Law.

Cheers!

Posted - April 4

Responses


  • 3701
    Stands to reason one crook would try to help bail out another.
      April 4, 2024 12:18 PM MDT
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  • 11102

    One crook with ties to Russia bailing out another crook with ties to Russia. What I’m wondering is if it means Trump didn’t make the bond deadline so the court can start taking his stuff. Cheers!

      April 4, 2024 12:54 PM MDT
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  • 3701
    I'm sure there's a reason for this "mistake."  My guess is so that it buys Trump more time and a delay in the case.
      April 4, 2024 1:10 PM MDT
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  • 11102

    I think he was trying to pull the wool over the eyes of Lady Justice. Cheers!

      April 4, 2024 1:28 PM MDT
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  • 3701
    He's been gaming the system since the day he was born.
      April 5, 2024 6:36 AM MDT
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  • 3701
    Know what else is almost worthless?  Trump's media stock.  Apparently, it has lost about 39% value since it's opening on March 26th - about $4 BILLION dollars.  The company has not made one dollar in profit since Truth Social started.  Shocking, I know!
      April 4, 2024 12:31 PM MDT
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  • 11102

    At first I thought the other thing that was almost worthless was his name. Trump takes great pride in his name so I wonder how he is going to feel when his new name is Mud. I think Trump missed his opportunity to sell his shares at a profit because the shares are going to keep going down. Cheers and happy weekend!

      April 5, 2024 10:56 AM MDT
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  • 3701
    He didn't really have a choice.  From what I understand, he is prevented from selling his shares for six months.  The stock is still dropping as of yesterday.  Surprised?  I'm not.  The company never made a profit and is millions of dollars in debt.  Only a bunch of MAGA morons would have bought the stock.
      April 6, 2024 9:34 AM MDT
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  • 34251
    I wish I would have bought it.  I will take a 400% increase all day.  DWAC stock ipo was $10...
    I had heard about it but did not make any money at all.  So I did not touch it.  But every time they attacked Trump....it jumped up more.  
    I have not bought any of the Trump stuff but I am definitely thinking about it now. 
      April 7, 2024 3:35 PM MDT
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  • 16763
    I refer to Spunky's comment about MAGA m----- ...
      April 8, 2024 5:59 PM MDT
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  • 34251
    Abunch of them MAGA people got rich on the merger.  
      April 8, 2024 7:08 PM MDT
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  • 16763
    Short term bump. If they hang on to that stock they'll lose their shirts when the books are examined.
      April 9, 2024 8:06 AM MDT
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  • 34251
    The smart ones bought years ago at $10 and sold at $70.  (All stocks shoot up at merger times)  And there are some, I was not I did not buy at all.   It is still at $36..for some that is 360% still not a bad return.

    It is meme stock (heavily influenced by politics,  internet hype etc stock) as such it will be very volatile price swings.  Even more so because it is tied to Trump. Haters will and are shorting it, willing to pay crazy interest to do so. ("MAGA morons making that money too)

    Again, I did not get in on it, because I did not know the plan was to merge with the DWAC.  I did look at it, but there was no revenue with it so did not get in.  My mistake. Oh well, it happens. I  will just have to keep working.   This post was edited by my2cents at April 9, 2024 9:29 AM MDT
      April 9, 2024 9:16 AM MDT
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  • 10996
    Well, he's been chatting with MBS in Saudi Arabia, so maybe he's got a Plan B.
      April 5, 2024 10:36 AM MDT
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  • 11102

    Trump probably was the most compromised president in US history. And he will be a 100X more compromised if he gets back in. Cheers and happy weekend!

      April 5, 2024 11:06 AM MDT
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  • 11102

    After a rough week for his new social media  Trump ranted on his Truth Social account Thursday about how great the platform is doing But Trump may have broken some Securities and Exchange Commission rules in the process. SEC laws prohibit the use of “manipulative and deceptive devices” to pump up stocks. Trump’s bragging in the face of heavy losses by his company could fall under that category, Trump critic George Conway tweeted Thursday afternoon. Cheers and happy weekend!

    This post was edited by Nanoose at April 6, 2024 9:35 AM MDT
      April 5, 2024 5:10 PM MDT
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  • 28
    Huh? How can anybody BE $175 million dollar bond? This is a nonsensical question.
      April 6, 2024 3:06 PM MDT
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  • 34251
    The court accepted it.  Judge may rule later this month to reject it.  
    Bond company says they are allowed to issue the bond through a NY bond company they are affiliated with.
      April 7, 2024 10:53 AM MDT
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  • 11102

    I cant find any info about the bond being eccepted by the court. Cheers!

      April 7, 2024 1:31 PM MDT
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  • 34251
    AG James was not able to start seizing Trump properties so it was accepted. 
      April 7, 2024 3:29 PM MDT
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  • 3701
    It has not been accepted.  A court hearing was scheduled for April 22 by Engoron to discuss details of the bond.  
      April 8, 2024 8:05 AM MDT
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  • 11102

    Recently new questions about the bond have come into play. By court order Trump was supposed to provide a list of all the lenders they approached to get the bond. The court didn’t get that – instead they got Eric Trump claiming that he approached 30 top lenders and they all laughed in his face. I think they are going to find that Trump didn’t approach 30 top lenders he only approached the one that would go for a you wash my back and I’ll wash your back deal and that back washer has ties to Russia. Cheers!

      April 8, 2024 8:52 AM MDT
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  • 3701
    Just saw this article:

    "The little-known insurance company that rescued Donald Trump by providing a last-minute $175 million bank fraud bond isn’t just unlicensed 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."

    https://www.yahoo.com/finance/news/trump-175-million-bond-even-084605478.html

    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 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.

      April 8, 2024 9:19 AM MDT
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  • 11102
    Yeah something stinks about the whole thing and it is not just Trump's BO. Cheers! This post was edited by Nanoose at April 9, 2024 7:56 AM MDT
      April 8, 2024 1:25 PM MDT
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