Letitia James Presses Judge to Void Trump’s $175 Million Bond, Paving Way for Asset Seizure
Published on April 20, 2024
New York Attorney General Letitia James has asked the judge in former President Donald Trump’s civil fraud case to declare the $175 million bond that a surety company posted on his behalf as “without effect” and to require it to post a new bond that is sufficiently collateralized, while calling into question the firm’s credibility. The company that issued the bond—Knight Specialty Insurance Company (KSIC)—posted a $175 million bond on April 1 on behalf of President Trump, allowing him to fend off a possible seizure of his properties or other assets following a $464 million judgment (including interest) in a case that accused him of inflating asset values to get better loan terms....