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

This article was originally published at StateOfUnion.org. Publications approved for syndication have permission to republish this article, such as Microsoft News, Yahoo News, Newsbreak, UltimateNewswire and others. To learn more about syndication opportunities, visit About Us.

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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