New York Attorney General Letitia James has filed a notice seeking more information about former President Donald Trump’s bond for the civil fraud case. The bond was issued by Knight Specialty Insurance Company, which is not admitted in New York. James questions the sufficiency of the surety to the undertaking given to Trump without a certificate of qualification being issued to the company. She asks Trump’s team or KSIC to justify the surety bond or provide further information about collateral provided by the former president within 10 days.
Don Hankey, the chairman of KSIC, stated that the $175 million bond posted was fully collateralized by cash from Trump’s company. While neither KSIC nor Trump’s lawyers immediately responded to requests for comment, Trump’s attorney, Alina Habba, expressed his desire to vindicate his rights on appeal and overturn the unjust verdict. Trump’s team appealed the $464 million civil fraud judgment against him and his company in February. If his appeal fails, he could be responsible for the entire amount issued by Judge Arthur Engoron’s order entered in February.
A bond hearing for the civil fraud trial is set for April 22. Hankey had been in negotiations to post a $557 million bond with the Trump Organization before a state appeals court ruled in March that the bond would be reduced to $175 million. It remains to be seen whether Trump’s team or KSIC will provide additional information or justification for the surety bond as requested by James. The New York attorney general’s office has not provided further comment on the matter.
In light of the ongoing legal proceedings and appeals, the outcome of the civil fraud case against Trump and his company remains uncertain. The bond hearing scheduled for April 22 will likely shed more light on the situation and determine the next steps in the process. Trump’s attorney has expressed confidence in vindicating his client’s rights through the appeal process, while James continues to seek further clarification on the bond issued by KSIC. The decision on the sufficiency of the surety bond provided by KSIC will play a crucial role in the resolution of the civil fraud case.
