Is Trump's $175 million civil fraud bond valid in New York?
Is Trump's $175 million civil fraud bond valid in New York?
Attorney General Letitia James gave Knight Specialty Insurance Company or former President Donald Trump 10 days to "justify the surety" of the bond.
But the surety bond was missing vital information typically included in those filings, experts say. These standard elements include documents related to power of attorney for the bond provider, Knight Specialty Insurance Company, a financial statement from the company and a certificate of solvency from the Department of Financial Services.
On Wednesday, the New York Supreme Court clerk's office returned to Trump's attorneys the bond filing "for correction." There was no reason publicly specified in the request for correction.
Adam Pollock, a former assistant attorney general in New York, said, "This bond is deficient for a number of reasons."
"Including that the company doesn't appear to be licensed in New York and doesn't appear to have enough capital to make this undertaking," Pollock said."