New York AG Seeks to Void Trump's $175 Million Bond in Fraud Case

Letitia James questions the adequacy of the bond's backing, citing the insurer's limited capacity and lack of authorization in New York.

New York Attorney General Letitia James has requested a judge to void the $175 million bond posted by Donald Trump, arguing the backing insurer lacks sufficient collateral.
The insurer, Knight Specialty Insurance Company, is not authorized to operate in New York and has a policyholder surplus of only $138 million, raising concerns about its capacity to cover the bond.
A hearing on the matter is scheduled for Monday, with the judge previously finding Trump and his organization liable for fraud.
Trump's legal team had struggled to secure a bond, facing rejections from 30 companies before obtaining the $175 million bond at a reduced rate from an appeals court.
The controversy over the bond involves high stakes, including potential seizure of Trump's assets if a suitable bond is not secured.