NY AG James raises concerns over firm backing Trump's $175 million bond

Trump's posting of the bond was widely regarded as a defeat for James, who had moved to begin seizing his assets in anticipation that he would be unable to post the higher sum.

By Ben Whedon

Published: April 4, 2024 6:52pm

New York Democratic Attorney General Letitia James's office this week, expressed concerns about the company that posted former President Donald Trump's $175 million bond.

Trump posted the sum on Monday as part of a New York civil fraud case against him. The original sum was markedly higher at $464 million, though the New York appeals court last month reduced it to the $175 million amount.

James's office, however, indicated Thursday that it had doubts about Knight Specialty Insurance Company and demanded either it or Trump prove the firm could afford to pay the sum.

"Defendants or (Knight) shall file a motion to justify the surety within ten days of the service of this notice, failing which the Bond shall be without effect, except that the surety shall remain liable on the Bond until a new undertaking is given and allowed," her office wrote, according to The Hill.

Trump's posting of the bond was widely regarded as a defeat for James, who had moved to begin seizing his assets in anticipation that he would be unable to post the higher sum. Last month, she filed judgements in Westchester County to begin the process of seizing Trump's Seven Springs golf course and private estate.

Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.