KSIC’s $175 million bond was collateralized by the $175,304,075.95 Trump had placed in a Charles Schwab bank account and which was specifically pledged to KSIC.
For historical reference. A Schwab account containing securities as also used as the collateral given to Chubb Group for the bond for the E Jean Carroll law suit appeal. Interestingly, Chubb refused to offer a bond for this other case needing the $175 million.
I think the key takeaway there though is that Trump controls that account. KSIC can take control of that account within 24 hours, but nothing is stopping Trump from just draining that account if he loses his appeal.
For historical reference. A Schwab account containing securities as also used as the collateral given to Chubb Group for the bond for the E Jean Carroll law suit appeal. Interestingly, Chubb refused to offer a bond for this other case needing the $175 million.
I think the key takeaway there though is that Trump controls that account. KSIC can take control of that account within 24 hours, but nothing is stopping Trump from just draining that account if he loses his appeal.
Watching him screw over the person dumb enough to vouch for him would be hilarious
Also, it will be when he loses his appeal
So, Russian money in a bank account with Trumps name on it?
I wonder if they’ll trace the source of those funds before accepting it for anything.