The Attorney General of New York, Letitia James, requested this Thursday that the lawyers for former President Donald trump (who governed the period 2017-2021) or the company that issued his $175 million bond “file a motion” to justify it within 10 days.
Trump paid a $175 million deposit on civil fraud case on Monday that he faces in New York, thus preventing the state from seizing his assets to satisfy the debt that amounts to 454 million dollars while he appeals.
In a court filing, James requested that Knight Specialty Insurance Company present documents showing that he is financially able to post bail in case Trump loses his appeal in the case.
The company, based in California, is not registered with the New York Department of Financial Services.
Manhattan Judge Arthur Engoron scheduled a hearing to discuss bail on April 22.
For its part, a spokesperson for the Trump Organization told Axios that this was “pure harassment.”
While the president of Knight Specialty's parent company, Don Hankey, He told ABC News he “didn't have any concerns.”
Why was Donald Trump fined?
The former US president, along with some of his children and his company, was fined on February 16 after Judge Arthur Engoron noted that Trump and the other defendants fraudulently inflated the value of their assets to ensure better conditions on loans and insurance.
If the ruling is confirmed, the Republican candidate for the presidential elections will have to pay the total sum whose interest increases daily, but if he wins, Trump would recover the money he deposited this Monday and would be exempt from the debt.
trump has denied the accusations and has called the case a witch hunt by Democrats.
The former president also faces a criminal trial for 34 crimes related to irregular payments to porn actress Stormy Daniels in 2016, which will begin on April 15 in New York.
