WASHINGTON — New York Attorney General Letitia James filed a notice on Thursday seeking more information about former President Donald Trump’s bond for the civil fraud case, which was issued by Knight Specialty Insurance Company.
KSIC is not admitted in New York, and James “takes exception to the sufficiency of the surety to the undertaking” given to Trump without a certificate of qualification being issued to the company, James said in the filing.
James asks that Trump’s team or KSIC “file a motion to justify the surety bond,” or provide further information about collateral provided by the former president, within 10 days.
Don Hankey, the chairman of KSIC, said the $175 million bond posted Monday was fully collateralized by cash from Trump’s company.
Neither KSIC nor Trump’s lawyers immediately responded to NBC News’ request for comment on Thursday night. The New York attorney general’s office did not immediately respond to a request for further comment either.
NBC News previously reported that Hankey had been negotiating to post a $557 million bond with the Trump Organization when a state appeals court ruled on March 25 that the bond would be reduced to $175 million.
“He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” said Trump’s attorney Alina Habba on Monday when the bond was posted.
In February, Trump’s team appealed the $464 million civil fraud judgment against him and his company. He could be responsible for the entire amount issued by Judge Arthur Engoron’s order, which was entered in February, if his appeal fails.
A bond hearing for the civil fraud trial is scheduled for April 22.
Source: | This article originally belongs to Nbcnews.com
