NEWSWEEK
Letitia James, the New York attorney general, wrongfully objected to Donald Trump‘s $175 million bond, his lawyers said in court documents.
After a court fined Trump $454 million in February over illegally inflating the value of his properties, the presumptive 2024 GOP presidential nominee had to post the bond to stop James from seizing his assets.
James objected to the $175 million bond Trump posted, arguing in court documents on April 4 that the surety for the bond, Knight Specialty Insurance Company, was not admitted to practice in New York.
On April 15, KSIC and Trump filed a large number of documents to show that Knight had the financial backing to issue the bond, and that Trump had fully supported the bond with cash.
Their joint statement, filed to Judge Arthur Engoron Monday, said KSIC’s $175 million bond was collateralized by the $175,304,075.95 Trump had placed in a Charles Schwab bank account and which was specifically pledged to KSIC.
