New York Attorney General Letitia James raised concerns on Thursday about the financial capabilities of the California company that provided the $175 million bond for former President Donald Trump’s New York civil fraud case. James questioned whether the company has the necessary qualifications to handle a bond of such magnitude.
James has filed a court motion, asking Knight Specialty Insurance Company to provide evidence of its financial ability to pay the bond in the event that Trump’s appeal in the case is unsuccessful.
The New York Department of Financial Services does not have any record of the California company being registered.
In February, New York Judge Arthur Engoron ordered the former president, Donald Trump, and his adult sons to pay a nearly half-billion-dollar civil fraud judgment. The judgment was imposed after it was discovered that Trump had engaged in numerous acts of fraud and misrepresentation to artificially inflate his net worth. This was done in order to secure more favorable loan terms.
Trump has consistently maintained his innocence and has chosen to appeal the court’s ruling in the case.
During a short interview with ABC News, Don Hankey, the chairman of Knight Specialty’s parent company, expressed his complete lack of concerns regarding the matter.
“Our applications or bonds rarely face rejection,” Hankey confidently stated. “I believe they undergo meticulous scrutiny, ensuring every detail is thoroughly examined and all requirements are met.”
“It’s quite a significant sum for anyone,” remarked Hankey.
Christopher Kise, the defense attorney for Trump, strongly criticized the attorney general for doubting the surety.
Kise expressed his frustration in a statement given to ABC News, calling it “Yet another witch hunt!” He criticized the Attorney General for remaining silent after a humiliating defeat in the First Department and accused them of attempting to provoke a baseless public dispute in a desperate bid to regain relevance.
The bond will be discussed in a hearing scheduled by Judge Engoron on April 22.
