Trump secures lowered bond in N.Y. civil fraud case

On Monday night, former President Donald Trump secured a bond in his New York civil fraud case as he appealed the original fraud penalty. The bond was secured after a New York appellate court granted Trump permission to lower it to $175 million, following his struggle to find a bond company willing to secure a bond of nearly half a billion.

The bond was granted through Knight Specialty Insurance Company. Don Hankey, chairman of the Hankey Group, which owns Knight Specialty Insurance Company, told ABC News, “This is what we do at Knight Insurance, and we’re happy to be able to accommodate the ex-president in this situation.” Hankey added, “I’d say it’s more of a business decision, but I happen to be a supporter also.”

In February, Judge Arthur Engoron initially charged the 2024 presidential frontrunner $355 million in damages in the case brought on by New York Attorney General Letitia James.

Before the New York Appellate court decided to reduce the bond amount, if Trump had failed to secure the bond — which his legal team said was virtually impossible — James would have seized his assets and properties to cover damages.

“As promised, President Trump has posted bond. He looks forward to vindicating his rights on appeal and overturning this unjust verdict,” said one of Trump’s attorneys, Alina Habba, per The Associated Press.

Trump has denied boosting his wealth for gain and has accused James and her office of being politically motivated.

“I’ve just posted a 175 Million Dollar Bond with the sadly failing and very troubled State of New York, based on a Corrupt Judge and Attorney General who used a Statute that was never used for this before, where no Jury was allowed, my financial statements were conservative and had a 100% perfect caution/non-reliance clause, there were no victims (except me!), there was no crime or damage, there was only success and HAPPY BANKS,” Trump posted on his social media platform Truth Social on Tuesday.