Donald Trump was ordered to pay more than $400 million damages in a civil business fraud lawsuit lodged by New York Attorney General Letitia James.
The New York Attorney General's office asked a judge to void a $175 million bond posted by former President Donald Trump to secure a much larger monetary damage award in his civil business fraud case.
The AG's office in a court filing said that Trump and other defendants in the case had failed to show there is enough identifiable collateral to back the bond. The New York Attorney General's office on Friday asked a judge to void a $175 million bond posted by former President Donald Trump to secure a much larger monetary damage award in his civil business fraud case.
The AG's office in a filing said that Trump and other defendants in the case had failed to show there is enough identifiable collateral to back the bond for the judgment in Manhattan Supreme Court. The filing notes that the surety Trump used to obtain the bond, Knight Specialty Insurance Company, is"a small insurer that is not authorized to write business in New York and thus not regulated by the state's insurance department, had never before written a surety bond in New York or in the prior two years in any other jurisdiction, and has a total policyholder surplus of just $138 million."This is breaking news. Please check back for updates.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump New York fraud bond cut to $175 million in appeal from $454 millionFormer President Donald Trump earlier had complained he could not obtain a $454 million appeal bond for a New York civil fraud case judgment.
Read more »
Trump bond lowered to $175 million as he appeals civil fraud judgment in New YorkIt’s a major lifeline for the former president, who, along with his adult sons and his company, were fined more than $464 million, including interest, after Judge Arthur Engoron found Trump and his…
Read more »
Donald Trump posts $175 million bond in New York civil fraud caseFormer President Donald Trump and his co-defendants have secured a $175 million bond in their New York civil fraud case on Monday, according to a court filing.
Read more »
Donald Trump posts $175 million bond in New York civil fraud caseFormer President Donald Trump and his co-defendants have secured a $175 million bond in their New York civil fraud case on Monday, according to a court filing.
Read more »
Trump posts $175 million bond in New York fraud caseFormer President Donald Trump and co-defendants in his New York civil fraud case have posted a bond of $175 milliom.
Read more »
Trump locks down $175 million bond after New York civil fraud judgmentFormer President Donald Trump has secured a $175 million bond in his New York civil fraud case, according to the latest court filing.
Read more »