NY AG Letitia James Moves to Void Trump’s $175M Bond in Civil Fraud Case

The New York Attorney General cites concerns over the financial capacity and authorization of the insurer, Knight Specialty Insurance Company.

New York Attorney General Letitia James has filed a motion to void a $175 million bond posted by Donald Trump, questioning the insurer’s financial stability and legal authorization to operate in New York.
The bond was intended to secure Trump’s appeal against a $354 million judgment in a civil fraud case, where he was found guilty of inflating asset values.
Knight Specialty Insurance Company, the insurer, is reported to have a policyholder surplus of only $138 million, far less than the bond amount.
James’s office argues that the insurer, not authorized to write business in New York, exposes Trump to significant financial and legal risks.
A hearing on this matter is scheduled for Monday, coinciding with Trump’s criminal trial in New York.