Updated Apr 4, 2024 - Politics & Policy

N.Y. attorney general questions company providing Trump's $175 million bond

Former President Trump speaks into microphone

Former President Trump speaks at a rally on April 2 in Green Bay, Wis. Photo: Scott Olson/Getty Images

New York Attorney General Letitia James requested Thursday that former President Trump's attorneys or the company issuing his $175 million bond "file a motion to justify the surety" within 10 days.

The big picture: The presumptive GOP presidential nominee posted the $175 million bond earlier this week after a New York appeals court reduced the amount needed to appeal his $454 million judgment.

  • The state's Supreme Court on Wednesday had sent the bond paperwork back to Trump's legal team for correction without providing any details on deficiencies.

Zoom in: James is asking either Trump's legal team or Knight Specialty Insurance Company, which is not registered with the Empire State's Department of Financial Services, to prove that it is financially able to perform under the bond, court records show.

  • Billionaire Don Hankey, California-based chairman of the company that offers high-interest loans to car buyers with low credit scores, underwrote the bond.
  • Trump's legal team had faced difficulties in finding a company willing to secure such a large bond.

The other side: A spokesperson for the Trump Organization said this was "pure harassment," per a statement to Axios.

  • "The bond is fully collateralized and backed by 100% cash," the spokesperson added.

Go deeper: What to know about Don Hankey, billionaire who backed Trump's N.Y. bond

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