Trump has scored a huge victory in the non-jury civil “fraud” trial.
On Monday, a New York judge upheld Trump’s $175 million bond judgment.
Previously, Attorney General Letitia James had argued that the court should void Trump’s $175 million bond judgment due to doubts about whether the bonding company could cover the amount if necessary.
However, the court rejected James’ argument.
As part of a stipulation, the court mandated that Knight Insurance, the company behind Trump’s bond, must furnish a monthly financial statement to James, showing that they have $175 million in cash.
Watch:
Fox News: Court rules Trump $175 million bond stands pic.twitter.com/se9KBxVP9d
— The Post Millennial (@TPostMillennial) April 22, 2024
Fox News reported:
Former President Trump’s $175 million bond judgment stemming from his non-jury civil trial will stand, a New York judge ruled Monday after New York Attorney General Letitia James attempted to invalidate it.
Lawyers for James on Monday argued that the court should void Trump’s slashed judgment of $175 million in his non-jury civil fraud trial. James questioned whether the company that posted the massive bond, Knight Specialty Insurance, could actually pay the bond if needed.
The court, though, ruled against James, deciding that the bond will stand.
The court decided the $175 million needs to be in cash — not in mutual funds or securities where the value can fluctuate. The court said Knight Insurance cannot trade or move the money, but said they will retain control of the account.
The court also ruled that Knight Insurance must provide a monthly financial statement to James showing the $175 million in cash and decided that the agreement cannot change without approval from the court.
