New York attorney general Letitia James on Friday asked the judge presiding over former president Donald Trump’s civil-fraud case to void his $175 million bond, arguing that the insurance company that underwrote the bond cannot prove it can make the payment.
Trump posted the bond at the start of April to put off the more than $454 million judgment, which Judge Arthur Engoron served against the former president, his business, and his co-defendants. Trump’s bond, underwritten by the California-based Knight Specialty Insurance Company (KSIC), ensures James can’t collect the much larger judgment while he appeals.
Trump posted the bond at the start of April to put off the more than $454 million judgment, which Judge Arthur Engoron served against the former president, his business, and his co-defendants. Trump’s bond, underwritten by the California-based Knight Specialty Insurance Company (KSIC), ensures James can’t collect the much larger judgment while he appeals.
However, the Democratic attorney general asked Engoron in a new court filing to throw out the $175 million bond, forcing Trump to post a replacement bond with a new insurance company.
Read the full story at National Review.
