New York Attorney General Letitia James's office argued it is concerned about the financial wherewithal of Knight Specialty Insurance company, which posted the bond for former President Donald Trump.
The $175 million bond posted by an insurance company for former President Donald Trump in a civil fraud case can stand after an agreement Monday that included assurances from his lawyers to comply with conditions from the Attorney General's office.New York Attorney General Letitia James 's office argued it is concerned about the financial wherewithal of Knight Specialty Insurance company, which posted the bond for Trump on April 1.
The attorney general said in a filing on April 19 that she believed that, even if Trump's funds were under Knight's control, the company would not meet several requirements for a surety bondholder.As CBS News has reported, Knight doesn't appear to meet a restriction under New York insurance law barring companies from putting more than 10% of their capital at risk. The attorney general's office noted that Knight has a surplus of only $138 million.
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