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Letitia James Questions Trump’s $175M Bond Deal, Judge Schedules Hearing

via ABC

New York Attorney General Letitia James is questioning the ability of the surety company covering Donald Trump’s $175 million appeal bond to fulfill its obligation.

Trump posted the bond to prevent James from seizing assets after being ordered to pay $464 million for civil fraud.

The company underwriting the bond is Knight Specialty Insurance, which promised to pay the $175 million if Trump loses his appeal.

James filed a motion noting Knight is not registered in New York to issue such bonds and demanding documentation to justify the bond.

A hearing was scheduled to discuss James’ objections to whether Knight is financially capable of paying the $175 million if Trump defaults.

Trump’s lawyer slammed James, calling her case a “baseless and vindictive political crusade” and her objections an effort to stir up controversy.

James had sought to essentially bankrupt Trump with the $464 million fine and a lifetime industry ban.

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