Letitia James filed a ‘notice of exception to the sufficiency of the surety’ seeking more information about Knight Specialty Insurance Company

Letitia James filed a ‘notice of exception to the sufficiency of the surety’ seeking more information about Knight Specialty Insurance Company

Donald Trump’s $175m bond in his New York civil fraud case has been thrown into doubt by New York Attorney General Letitia James after she filed a notice asking for evidence that the out-of-state firm that underwrote it really has the money to pay up.

Ms James’s office submitted a “notice of exception to the sufficiency of the surety” on Thursday asking for further proof that California-based Knight Specialty Insurance Company (KSIC) has the capital to proceed on the former president’s behalf.

KSIC is not regulated by New York state, which means that it is not authorised to issue surety bonds in the Empire State and therefore cannot obtain a certificate from the New York Department of Financial Services, which is customarily part of any bond package.

  • SturgiesYrFase
    4·
    8 months ago

    https://www.lx.com/money/pennies-for-your-thoughts/17579/

    There are about 130 billion pennies currently in circulation

    That’s more than 716 million pounds in pennies. The Mint produces 5-16 billion pennies every year. Coins that are heavily damaged are typically removed from circulation.

    Seems like there literally aren’t enough pennies in the US for him to do that…

    Edit: me dumb, math hard. But at the same time, good luck to him getting the pennies out of everyone’s change jars…

    • VeryVito
      3·
      8 months ago

      He practically emptied mine during his four years of making America grate.

      • SturgiesYrFase
        1·
        8 months ago

        Big oof, yuuuge oof, probably the biggest oof this year, maybe ever. Jokes aside, I have family in the US, and they felt the pinch hard too.

    • FuglyDuck@lemmy.worldEnglish
      2·
      8 months ago

      The source I saw said 300 Billy minted and 200billion in circulation.

      They don’t actually have a number, so, eh….yeah.

      Edit: to your edit…… lolz, yeah,