A New York judge ruled on Monday that former President Trump's $175 million bond judgment from his non-jury civil trial will stand, despite efforts by New York Attorney General Letitia James to invalidate it.
During the court proceedings, lawyers representing James argued for the voiding of Trump's reduced judgment amount, expressing concerns about the ability of Knight Specialty Insurance, the company that posted the bond, to fulfill its financial obligations if necessary.
However, the court ultimately sided against James, affirming that the $175 million bond must be in cash and not subject to market fluctuations like mutual funds or securities. The court specified that Knight Insurance is prohibited from trading or transferring the funds and must maintain control of the account.
Additionally, the judge mandated that Knight Insurance provide monthly financial statements to James confirming the presence of the $175 million in cash. Any modifications to the agreement regarding the bond require prior approval from the court.
This ruling marks a significant development in the legal battle surrounding Trump's civil fraud trial, underscoring the importance of financial accountability and transparency in high-profile legal cases.
