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As explained earlier in an another MeidasTouch video, Trump’s unconventional Bond supplier has some problems. Primary among them being the lack of credible balance-sheet evidence, proving that Knight Specialty is “good for” the $175M IOU posted. NY law requires this credible evidence, which shows that Bond posted is, among other things, not more than 10% of the Bond Company’s available (liquid) capital assets.
Trump’s ‘white Knight’ did not show this.
In their amended filing, they still leave much to be answered for, in terms of fiscal credibility, as Popek explains in the video below:
1) The “balance sheet” numbers re-posted, amount to notes scribbled on a napkin.
2) The “balance sheet” numbers re-posted, have not been independently audited, and attested to as accurate.
3) The “balance sheet” numbers re-posted, have numerous vague Liabilities and Obligations, that offset the likewise vague Assets listed.
4) The “balance sheet” numbers re-posted, were only through 12/31/2023.
But what’s a $175M IOU among “Business Associates,” Capisce? Why all the fuss, just trust-em ...
MeidasTouch — April 5, 2024
Michael Popek of LegalAF, goes even further in the finale of this clip. He raises the serious likelihood, that Don Hankey, owner of Knight Specialty Insurance Company, has just broken “money laundering laws” — with the statements he just made on CNN.
By saying that Trump has the ‘cash on hand’ to pay back the $175M for the Bond — but also, that “he has no idea where Trump has gotten that money from” — Mr Hankey has just admitted to a possible may possibly be describing a “money laundering” scheme. This should be investigated. It is his responsibility to know where Trump’s collateral cash is coming from, according to New York’s “Know Your Customer” laws — assuming he is indeed a credible Bondsman, that he has purported himself to be.
We wouldn’t want Trump’s latest justice-avoidance delay, to be underwritten by Saudi Arabia or Russia, or even Elon, now would we? Assuming everything is indeed on “the up and up and legit” …
But watch the clip for yourself please. Something could have gotten jumbled in my humble translation above. Here is the video description blurb as an enticement:
The bonding company owner that posted Trump’s $175 million bond in New York against the $465 million civil fraud judgment JUST ADMITTED THAT his company is violating ANTI MONEY LAUNDERING and “Know Your Customer” laws because he DOES NOT KNOW THE SOURCE OF TRUMP’s cash collateral. Michael Popok examines the new bond just filed by a company controlled by a Trump donor, and why the UNAUDITED and stale financial statements filed by them in the case raise new questions about their SOLVENCY that Judge Engoron will hold a hearing about later this month. Link
Good to hear that Judge Engoron has demanded fiscal proof for these sketchy claims, in his court of Law — pronto! Enough with these endless delays due to incompetence. Long past time to bring the judgment hammer down, please.
No one should be above the Law, especially this 2-time loser — as attested to juries of his peers — and counting.
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