In a civil fraud case brought by New York Attorney General Letitia James, a judge rejected James’ attempt to question the ability of the surety company covering Donald Trump’s $175 million appeal bond.
Trump had posted the bond in April to prevent James from seizing assets while he appeals a lower court ruling fining him and the Trump Organization over $350 million.
The surety company, Knight Specialty Insurance Company, promised to pay the $175 million if Trump loses the appeal and cannot pay.
Fox News: Court rules Trump $175 million bond stands pic.twitter.com/se9KBxVP9d
— The Post Millennial (@TPostMillennial) April 22, 2024
Judge Arthur Engoron had issued the initial $350 million fine and barred Trump from serving as an officer of New York corporations for three years.
James is seeking to effectively bankrupt Trump through a $464 million fine and lifetime New York real estate industry ban.
Arguments in Trump’s appeal are scheduled for September.
