The Attorney General of New York Letizia GiacomoThe office moved to invalidate the $175 million bail secured by the former president Donald Trump delay payment of a higher monetary damages award in your civil fraud case.
What happened: The New York attorney general’s office has filed a request for a judge to void the $175 million bail secured by Trump, arguing that the former president and his co-defendants failed to demonstrate that the surety bond used to obtain bail had the money to support it, The Hill reported.
The bond was guaranteed by the California company Knight Specialty Insurance Company. State attorneys argued that Knight is a “small insurer not authorized to underwrite business in New York” and that he had “never underwritten a bond in New York” until Trump.
The company’s total policyholder surplus is just $138 million, and under New York state law, companies like Knight cannot expose themselves to liabilities greater than 10% of their surplus.
See also: Teary Biden criticizes Trump for his remarks about service members: ‘Who the hell does he think he is?’
Because matter: The civil fraud case against Trump and his organization was brought by the New York attorney general. The case alleges that Trump and his organization manipulated the value of assets to obtain loans and tax benefits.
The judge is expected to address the issues raised by the attorney general’s office in a hearing Monday, which will run alongside opening statements in Trump’s criminal trial in New York.
These developments come amid a series of dramatic events surrounding Trump’s legal proceedings. On Friday, a protester set himself on fire outside the courtroom where Trump’s secret trial was taking place. This incident briefly interrupted the jury selection process.
Donald Trump is currently facing legal challenges at both the federal and state levels, in several places such as New York City, Washington, Atlanta, Florida, and Georgia. Despite the accusations, he continues to maintain his innocence, describing the cases as a “witch hunt”.
Nationally, Trump had 44.6% support among voters, while Biden lagged behind with 44.2%, according to Real Clear Politics.
Read next: Trump’s former attorney says it’s ‘very unusual’ to have lawyers on the jury: ‘They can be a very loud voice’
Photo courtesy: Shutterstock