Trump's $175 million bond questioned by New York AG, hearing scheduled

The Republican presidential candidate narrowly averted possible asset seizures when an appeals court on March 25 agreed to pause the judgment if he posted a $175 million bond within 10 days, which he did on April 1. New York Attorney General Letitia James' office said on Thursday that Trump must offer proof that the surety company he used to post the bond, Knight Specialty Insurance Company, has enough assets to pay if his appeal fails.

A New York judge will hold a hearing on April 22 over the $175 million bond Donald Trump posted as he appeals a $454 million fraud judgment against him, the state attorney general's office said on Thursday, after asking for more details about the bond. The Republican presidential candidate narrowly averted possible asset seizures when an appeals court on March 25 agreed to pause the judgment if he posted a $175 million bond within 10 days, which he did on April 1.

New York Attorney General Letitia James' office said on Thursday that Trump must offer proof that the surety company he used to post the bond, Knight Specialty Insurance Company, has enough assets to pay if his appeal fails. The move does not necessarily imperil Trump's bond but will likely require California-based Knight to show that it can cover the bond.

Knight owner Don Hankey and the company's president, Amit Shah, did not immediately respond to requests for comment. Justice Arthur Engoron ordered Trump to pay the $454 million in penalties and interest in February, after finding him liable for overstating his net worth and the values of his real estate holdings to dupe lenders and insurers.

Trump denies wrongdoing and is appealing Engoron's decision. Trump's lawyer Chris Kise said in a statement that the questions about the bond were baseless.

Knight has $539 million in assets, including $26.8 million in cash, it said in a court filing. The hearing will take place a week after Trump's criminal trial on charges stemming from hush money paid to a porn star kicks off in New York, one of four indictments he faces as he campaigns to challenge Democratic President Joe Biden in the Nov. 5 election.

He has pleaded not guilty in all criminal cases. The other three stem from efforts to overturn Trump's 2020 election loss to Biden, and his handling of sensitive government documents after leaving office in 2021.

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