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Whooo boy! It just gets worse and worse...
Not only is Knight unlicensed in NY, it "hasn’t even been vetted by a voluntary state entity that would verify it meets minimum “eligibility standards” to prove financial stability."
And, get this! Knight doesn't even promise to "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..."
https://www.thedailybeast.com/trumps-dollar175-million-bond-is-even-shadier-than-it-looks