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.
