Sat. May 18th, 2024

N.Y. AG seeks more information about Trump bond, collateral

By 37ci3 Apr5,2024

WASHINGTON — New York Attorney General Letitia James issued a subpoena Thursday seeking more information about former President Donald Trump’s case. debt for civil fraud caseIssued by Knight Specialty Insurance Company.

KSIC is not recognized in New York, and James “precludes the sufficiency of the surety bond” given to Trump without a certificate of qualification for the company, James said in the filing.

James is asking Trump’s team, or KSIC, to “file a motion to substantiate the bond” within 10 days or provide additional information about the bail provided by the former president.

KSIC Chairman Don Hankey said the $175 million bond posted Monday was fully secured by cash from Trump’s company.

Neither KSIC nor Trump’s lawyers immediately responded to NBC News’ request for comment Thursday night. The New York Attorney General’s Office did not immediately respond to a request for further comment.

NBC News previously reported Hanky ​​was negotiating to post a $557 million bond with the Trump Organization while a state court held an appeal. ruled On March 25, the bond is supposed to be reduced to 175 million dollars.

“He looks forward to vindicating his rights on appeal and overturning this unjust sentence,” Trump’s attorney, Alina Habba, said Monday when bond was posted.

Trump’s team in February applied a $464 million civil fraud verdict against him and his company. He could be held liable for the entire amount awarded by Justice Arthur Engoro’s judgment entered in February if his appeal fails.

The court hearing on the civil fraud case was scheduled for April 22.

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By 37ci3

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