New York Attorney General Letitia James Asks Judge to Void Trump’s Bail in His Civil Fraud Verdict

New York Attorney General Letitia James on Friday asked a judge to nullify former President Donald Trump’s bond in his civil fraud case, questioning whether the company that issued it has the funds to back it.

In a 26-page document ahead of a pre-scheduled hearing on Monday, James expressed concerns about whether Knight Specialty Insurance Company could secure the $175 million bond. She also argued that the guarantees provided by the former president should be under the company’s full control.

One of James’ concerns about KSIC is that the insurer “is not authorized to underwrite business in New York and is therefore not regulated by the state insurance department.” She added that the company “had never issued a bond in New York or in the previous two years in any other jurisdiction and has a total policyholder surplus of just $138 million.”

James also criticized the Trump team’s apparent control over the guarantees offered to back the bond.

“KSIC does not now have the exclusive right to control the account and will not obtain such control unless and until it exercises the right to do so two days in advance,” she wrote.

Neither Trump’s lawyers nor KSIC immediately responded to a request for comment.

Trump’s lawyer Alina Habba said earlier, when the former president’s bond was posted, that he “looks forward to vindicating his rights on appeal and overturning this unjust verdict.”

The new request comes after James filed a notice earlier this month seeking more information about the former president’s relationship. In that filing, she asked Trump’s lawyers or insurance company to “file a motion to justify bail” or provide additional information about Trump’s bond within 10 days.

Bail for Trump and his co-defendants was reduced by a state appeals court to $175 million in March, down from $464 million. Trump was responsible for $454 million, the vast majority of the original sum. The former president has repeatedly criticized the case against him and denied any wrongdoing.

James’ action comes as Trump was in court for his criminal money-hiding case in New York, where he faces 34 counts of falsifying business records, and as a state appeals court judge rejected Trump’s request to an emergency suspension of the trial. A jury has been empaneled in that case and arguments are scheduled to begin on Monday. Trump has pleaded not guilty to all charges.