New York Attorney General Letitia James has requested that an appeals court requires former US President Donald Trump to offer proof of financial capability from the firm providing his $175 million bond in the state’s civil fraud case. The requirements stipulate that the proof be delivered within a 10-day window, and be sufficient to assure that the company is financially capable of meeting its commitments if Trump’s legal challenges fail.
This comes in the wake of a significant legal victory for the state of New York, after winning a judgment to the tune of $454 million against Trump over allegations of fraudulent asset valuations. The bond, arranged through a Californian insurance company, has temporarily put the judgment on hold while Trump seeks to appeal against the judgement.
It’s an additional hurdle for Trump, who has been facing a slew of legal challenges in recent times far removed from his previous position as President. Meanwhile, the case exemplifies the increasing scrutiny insurance companies are being subjected to regarding their financial viability, especially where large bonds in contentious, high-profile cases are concerned.
To read more about this ongoing legal case, you can find the full coverage of this story on Bloomberg Law here.