Judge Smacks Down AG Letitia James — TRUMP WINS!
"On Monday, a New York judge refused an attempt by New York Attorney General Letitia James to overturn the $175 million bail judgment awarded to former President Donald Trump during his civil trial, ruling that it will remain in place.
James' legal team argued on Monday for the court to reverse Trump's $175 million verdict in his civil fraud trial without a jury, questioning the ability of Knight Specialty Insurance, the entity that posted the substantial bond, to cover it if necessary.
However, the court ruled against James, upholding the bail, as reported by Fox News.
The court specified that the $175 million must be paid in cash, not in assets like mutual funds or securities, whose value can fluctuate. Knight Insurance was instructed to maintain control over the account without the ability to exchange or transfer the funds.
Furthermore, the court mandated that Knight Insurance provide James with a monthly financial statement reflecting the $175 million in cash and stipulated that the terms of the arrangement cannot be altered without court approval.
The proceedings on Monday lasted approximately sixty minutes.
Trump's legal team is appealing New York Judge Arthur Engoron's decision, which found Trump liable for fraud and ordered him to pay $454 million.
An appeals court reduced the $454 million verdict to $175 million while Trump contested Engoron's ruling.
If Trump's appeal is unsuccessful, he may be held responsible for the entire $454 million debt, potentially allowing James to seize his real estate assets.
New York Attorney General James requested the court overseeing Trump's civil fraud case to set aside the $175 million bond provided by a surety company, expressing concerns about the firm's credibility and the adequacy of the bond.
Knight Specialty Insurance Company (KSIC) issued a $175 million bond on April 1 on behalf of Trump. This bond shields his properties and assets from potential seizure following a $464 million verdict (plus interest) in a lawsuit alleging he inflated his asset values to secure better loan terms.
Shortly after KSIC posted the $175 million bond, James, who filed the civil fraud lawsuit against Trump, raised doubts in a court document about its sufficiency. Trump's legal team countered, asserting that the company possesses sufficient funds and collateral to support the bond.
In an April 19 court document, James refuted the claim, presenting several arguments against KSIC's assertion. She urged Justice Arthur Engoron of the New York Supreme Court, the presiding judge, to nullify the bail and require a replacement bond within seven days.
Trump's hush money trial is scheduled to begin in Manhattan on Monday, with Engoron scheduling a hearing for arguments in the case on April 22.
The Epoch Times also noted:
In response, President Trump's legal team filed a motion on April 15 requesting the judge dismiss Ms. James's objections to the bond, while presenting a series of arguments supporting the validity of the surety.
Trump's counsel highlighted that there's no legal mandate for a surety company to be an "admitted carrier" in New York State to issue the bond.
They further argued that the company is well-capitalized, with assets exceeding $539 million and equity of $138 million—along with access to assets exceeding $2 billion and equity of $1 billion.
Additionally, Trump has asserted unequivocally that he has nothing to hide and would willingly "speak the truth" if called upon to testify in his hush money case."