A New York judge recently ruled against Attorney General Letitia James over Trump’s $175 million bond judgment.
The judge confirmed that the $175 million bond related to former President Donald Trump’s civil fraud trial will remain in place. This decision came after the New York Attorney General, Letitia James, raised concerns about the validity of the bond.
The court previously lowered Trump’s bond to $175 million. In an attempt to derail Trump posting bond James questioned whether the issuer of the bond, Knight Specialty Insurance, was capable of covering this amount if required. Attorney General James challenged the ability of Knight Insurance to ensure the bond’s payment, prompting a legal review.
The court responded by upholding the bond amount and stipulated that the funds must be held in cash. This measure is to prevent fluctuations in value that could occur if the funds were held in mutual funds or securities. Additionally, the court ordered Knight Insurance not to trade or move the funds, although they will maintain control over the account holding the money.
Knight Insurance is also required to provide monthly financial statements to Attorney General James. These statements must clearly show that the $175 million is kept in cash. Any changes to this arrangement will need approval from the court.
The hearing regarding these issues lasted about an hour on Monday. Following the decision, Trump’s attorney, Alina Habba, expressed satisfaction with the outcome but criticized the proceedings as a misuse of resources and a political maneuver. She described the legal actions as a “witch hunt” against Trump, intended to undermine him due to his political influence rather than any legal wrongdoing.
This legal ruling coincided with Trump’s attendance at another court for the opening arguments in a criminal trial. The criminal charges, brought by Manhattan District Attorney Alvin Bragg, involve 34 counts of falsifying business records. Trump has pleaded not guilty to all charges.
In her remarks, Habba attempted to discredit the claims made against Trump and his financial practices, asserting that the allegations were baseless and politically motivated. She argued that the legal battles were a waste of taxpayer money and an attack on the integrity of the American judicial system.
BREAKING NEWS: Alina Habba Slams Letitia James After Defending Trump’s Bond In The Fake Civil Fraud Trial
It is a disgrace and a witch hunt. It needs to stop now!!!
THANK YOU @AlinaHabba FOR REPRESENTING PRESIDENT TRUMP! He will once again be the best President we will ever… pic.twitter.com/1G4rvI2JeC
— 🕊 𝓐𝓷𝓷 𝓲𝓼 𝓡𝓲𝓰𝓱𝓽 🕊 𝐗𝐋𝐕 (@Ann_Lilyflower) April 22, 2024
Despite the criticisms from Trump’s legal team, James’ office portrayed the ruling as a success in ensuring the financial accountability of the bond. The Attorney General’s office indicated that Trump had conceded to their demands concerning the bond, which was aimed at securing the financial interests involved.
Leave it to Democrats to claim success after losing in court.
