Court Rules in Favor of Trump, Rejects Letitia James’ Attempt to Void $175 Million Bond

In a legal dispute over a $175 million bond, a judge ruled in favor of former President Donald Trump on Monday, rejecting New York Attorney General Letitia James’ efforts to invalidate the bond.

Last Friday, James sought to void Trump’s bond posted to appeal a civil fraud case, arguing that the California-based Knight Specialty Insurance Company (KSIC) was not authorized to do business in New York. James also questioned whether KSIC had sufficient funds to back the $175 million bond Trump posted.

According to a 26-page filing from James’ office, they highlighted that KSIC’s policyholder surplus was $138,441,671, significantly lower than the face amount of the bond, which exceeded this limitation by $161.2 million. Additionally, James’ filing cited concerns about KSIC’s management and its compliance with federal law.

James requested the judge to void Trump’s bond and require him to post a new bond within seven days of the court’s decision.

However, the judge ruled against James on Monday, allowing Trump’s $175 million bond to remain valid. The court specified that the bond must be in cash and under the control of Knight Insurance, which cannot trade or move the money without court approval. Knight Insurance is required to provide monthly financial statements showing the $175 million in cash, and any changes to the agreement must be approved by the court.

Fox News reported that the court’s decision affirmed Trump’s bond, upholding the judgment stemming from his non-jury civil trial. James’ argument to invalidate the bond was rejected by the court, affirming the standing of the $175 million bond provided by Knight Specialty Insurance.