An attempt by New York Attorney General Letitia James to void the $175 million bond in former President Donald Trump’s civil fraud case failed, but Trump’s attorneys agreed to additional restrictions on the bond.
According to a Reuters report, the attorneys for Trump and his surety firm, Knight Specialty Insurance Company, agreed that the funds will remain as cash and will not be traded for securities. They also agreed Knight will exercise exclusive control of the account and not withdraw funds, with the company pledging to update James’ office with monthly statements.
If James succeeded in voiding the bond, Trump would have been given seven days to secure a new bond or face the prospect of James seizing his real estate assets.
Earlier today, Trump defended the bond before heading to his simultaneous criminal trial involving hush money payments to adult film performer Stormy Daniels.
“We put up cash and the number is 175,” Trump said, adding that James “shouldn’t be complaining about the bonding company. The bonding company would be good for it because I put up the money. I have plenty of money to put up.”
Photo by Gage Skidmore / Flickr Creative Commons
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