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.
