Home World News The $175 million guarantee deposits of Trump’s financial fraud civil lawsuit were “returned for correction” by the court.

The $175 million guarantee deposits of Trump’s financial fraud civil lawsuit were “returned for correction” by the court.

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The $175 million guarantee deposits of Trump’s financial fraud civil lawsuit were “returned for correction” by the court.

former PresidenttrumpHe was convicted in a civil prosecution for financial fraud, and the judge ordered compensation of ₹355 million plus interest of ₹454 million. In order to protect his assets from being seized by the court, Trump paid a deposit of 175 million yuan on the 1st. But,new York StateThe electronic filing system of the New York State Supreme Court showed on the 3rd that Trump’s bond was “returned for correction.”

Newsweek reported on the 4th why the court returned the security deposit and requested to fix it, causing people from all walks of life to speculate on Trump’s financial situation.

According to the report’s analysis, after entering the “return for correction” process, if the omissions in the documents requested by the court cannot be corrected, Trump will lose the opportunity to appeal his financial fraud conviction and They will have to pay a total of Rs 454 million. Compensation.

Retired federal judge Barbara Jones was appointed by New York State Superior Court Judge Arthur Engoron as an independent monitor of the Trump Organization to ensure that fraud does not occur in the future. MSNBC News Channel judicial commentator Lisa Rubin wrote on the X platform on the 3rd that the court was filled with reporters and prosecutors from the New York State Attorney General’s Office, and they all wanted to know what information Jones had.

Rubin explained that the reason the court rejected the bond was because he had come forward to pay the bond.InsuranceInadequate management of company documents.

Newsweek reports that insurance companies often provide bonds to the court on behalf of defendants and charge a fee for their services. Trump’s $175 million guarantee is underwritten by California-based Knight Specialty Insurance Company.

Rubin pointed out that the financial statements requested by the court do not appear to be Trump’s personal financial statements, but the Cavaliers Professional Insurance Company is required to produce documents proving that the company has sufficient funds to insure Trump. Is authorized.

Rubin said: “We still don’t know how much Trump paid the insurance companies for services and whether they promised to provide collateral. These details may only be known to Jones, the court-appointed independent monitor. As of March 21, 2024, the court ordered that the Trump Organization must notify Jones before receiving the bond.”

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