N.Y. judge upholds Trump $175 million civil fraud bond

New York Judge Arthur Engoron ruled Monday that the $175 million bond posted by former President Donald Trump for his civil fraud case can stand.

State Attorney General Letitia James questioned earlier this month whether the bond issued by Knight Specialty Insurance Company is valid and financially sound as a means to enable Mr. Trump to appeal the civil fraud judgment against him. Billionaire and Trump supporter Don Hankey, the company’s chairman, underwrote the bond.

In a court filing Friday, Ms. James said the company “failed to justify” the surety of the bond. She asked the judge to void the bond, which would leave Mr. Trump wide open for his assets to be seized to satisfy the court judgment.

There were five conditions that a prosecutor for the attorney general’s office proposed that would satisfy Ms. James’ concerns. One of the conditions said the $175 million needed to be in cash, while another said that Knight insurance must provide a monthly financial statement showing that it has the money. Another condition said the company will have “exclusive control” over the money in the account.

Judge Engoron ruled in February that the former president owed $464 million in the civil case that found his business liable for financial fraud, and he needed to post a bond for that amount if he wanted to appeal. The bond was later reduced to $175 million after Trump attorneys argued they couldn’t possibly find a bond for the higher amount.

Mr. Trump railed against Ms. James’ call for voiding the bond Monday outside of his criminal hush-money trial, and called her the “worst attorney general in the country.”

“The bonding company would be good for it because I put up the money, and I have plenty of money to put up,” Mr. Trump said.

He said New York has “got to be the most unfriendly place to do business, and that’s why businesses are leaving and people are leaving as migrants come in and take over our parks and our schools and everything else.”